News & Analysis as of September 18, 2024

European Union › Cramdown

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Schemes and Restructuring Plans: Where Are We Now?

Latham & Watkins LLP on 5/12/2022

The forecast for the English scheme and plan looks set fair despite concerns around Brexit turbulence. The restructuring market’s appetite for Part 26 schemes of arrangement and Part 26A restructuring plans shows no...more

UK and European Restructuring Tools: Choosing the Optimal Forum for Creditor and Shareholder Cramdown

Latham & Watkins LLP on 5/12/2022

Debtors and investors have an enhanced choice of restructuring venues as the EU Restructuring Directive is rolled out in Member States - A number of key European jurisdictions have now implemented the EU Preventive...more

European Restructuring Update: France Introduces New Accelerated Safeguard Proceedings

Dechert LLP on 11/12/2021

France has now introduced a new restructuring tool following the enactment of Ordinance 2021- 1193 (the “Ordinance”), which incorporates the Directive (EU) 2019/1023 on preventive restructuring frameworks (the “Directive”)...more

France Publishes Restructuring and Insolvency Law Reform Ordinance

Latham & Watkins LLP on 9/21/2021

Ordinance 2021-1193, which effects into law the European Directive on preventive restructuring frameworks, applies to proceedings opened from 1 October 2021. Key Points: ..Certain preventive mechanisms are...more

Special Report - Out-of-Court Restructuring Alternatives in the European Union, Germany and the United States - November 2020

McDermott Will & Emery on 11/13/2020

The Coronavirus (COVID-19) pandemic has had a huge impact on the global economy and most businesses, creating thousands of companies with urgent restructuring needs. Restructurings are ideally carried out early, quietly, and...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/27/2017

CFTC Comparability Determination on EU Margin Requirements and a Common Approach on Trading Venues - On October 13, 2017, the U.S. Commodity Futures Trading Commission ("CFTC") announced determinations by the CFTC and the...more

Restructuring and Insolvency Bulletin Issue 2 - 2017: An update on COMI shifting to take advantage of the best insolvency tools to...

Dechert LLP on 10/19/2017

The EU has taken aim at fraudulent or abusive forum shopping in the Recast Insolvency Regulation, acknowledging the potential for misuse by debtors seeking to take advantage of more flexible insolvency processes available in...more

Restructuring and Insolvency Bulletin Issue 1 - 2017 - Cross border restructuring landscape continues to evolve – EU and Singapore...

Dechert LLP on 7/12/2017

Legislative changes in Singapore and the EU introduce pre-insolvency processes facilitating non-consensual debt restructurings or cram downs comparable to those already available in London and New York. In particular, the EU...more

European Restructuring Landscape Improves with Multiple Reforms

Latham & Watkins LLP on 6/7/2016

In light of the UK’s cram down and director-friendly processes, in particular its scheme of arrangement model, major European economies such as France, Germany and Italy have worked hard to develop regimes that give greater...more

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European Union › Cramdown

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