The M&A Word of the Day® from the Book of Jargon® – Global Mergers & Acquisitions Is Distressed Sale
Investors must address several key issues at the outset of a restructuring to smooth the path to a successful realisation of their investment.
The classic image of a restructuring situation is of the critically ill...more
In Bank of Tokyo-Mitsubishi UFJ Ltd v Owners of the MV Sanko Mineral  EWHC 3927 it was held that, as a matter of English law, a claimant should have commenced arbitration within 12 months, in accordance with contractual...more
Following a consultation on the issues last year, an Order was laid before the UK Parliament on Monday (9 February 2015) to prevent suppliers of water, gas, electricity, communications services and IT from cutting off supply...more
PROTECTING YOUR BUSINESS FROM YOUR CUSTOMER’S INSOLVENCY -
In the second article in our series on risk and opportunity in the fashion retail sector, Rob Russell and Peter Manley assess one of the most prominent areas...more
The recent drop in crude oil prices has been a boon to consumers and businesses alike. However, sustained lower crude prices will invariably have a negative impact on drilling activity in those states where oil and gas...more
As a reaction to the dramatic oil price volatility, many energy companies plan to streamline operations by reducing work force and shedding assets. Those who do so face tightening credit and decline in asset value that may...more
The Vermont Supreme Court has ruled in In Re Ambassador Ins. Co., 2015 VT 4 (Vt. Jan. 23, 2015) that the liquidator of Ambassador Insurance acted unreasonably in setting a December 31, 2013 bar date for policyholder claims...more
In recent years, companies in financial distress have found “independent” directors to be useful to achieve protections for their board members. An independent director is a director – usually with no prior affiliation to the...more
In 2014, the health care industry continued to see a high level of M&A activity, with announced transactions approaching $440 billion globally by the end of November. In the United States, consolidation continues to occur in...more
Even at Sony, cyber security was a hot topic before Kim Jong-un took an interest in Seth Rogen’s oeuvre. In 2011, hackers gained access to the personal and financial information Sony had collected on more than 100 million...more
When the Lehman Brothers group imploded in September 2008, the impact of events on the Lehman Brothers UK pension scheme (the "Scheme") was not seen as a key concern for anyone other than the members themselves. Yet as time...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 contains two sets of provisions for managing the insolvency of financial institutions. First, the legislation creates an Orderly Liquidation Authority...more
Oil price movement through 2014 and into 2015 is a consequence of market fundamentals. Europe’s continued economic woes, paired with the slowdown in China’s economy, have led to a fall in demand for oil....more
The Anguillan government has published a bill for a new Insolvency Act for public review and consultation.
Reform of Anguillan insolvency law is long overdue. Personal bankruptcy is presently...more
On January 15, the Federal Reserve and the FDIC issued a joint press release making available the public sections of resolution plans of firms with less than $100 billion in qualifying nonbank assets. The Dodd-Frank Act...more
Legislation has come into effect to create a new class of debt in insolvency, being “secondary preferential debts”.
Secondary preferential debts are, in brief, those parts of a deposit which do not fall within the...more
In This Issue:
- Americas: Chapter 15: Section 363 Review Trumps Comity
- Continental Europe:
..Update On Spanish Insolvency Laws - Refinancing Agreements And Purchase Of Business Units Of Companies...more
Atlantic City has been struggling in recent years, and it remains unclear how the city’s problems will improve in the face of a deteriorating tax base. According to the Update Report of Governor’s Advisory Commission on New...more
The attention of foreign insolvency and bankruptcy
professionals is often turned towards the British Virgin Islands (BVI). The volume of asset holding structures and the network of connected service providers and directors...more
- If a document attracts litigation privilege, it does not have to be produced to the other party in litigation as part of the disclosure process.
- The material must be confidential, made for the...more
Opportunity Arises Out of Adversity -
The recent global financial crisis has seen consumers tighten their belts and the retail industry as a whole has faced increasing pressure. Profits warnings have peppered the...more
In Connecticut Ins. Guaranty Association v. Joshua Drown, the Connecticut Supreme Court addressed, as an issue of first impression, whether an insurer’s preinsolvency breach of its duty to defend a claim during an underlying...more
During its 44th congress in Toronto, on September 17, 2014, the International Association for the Protection of Intellectual Property (AIPPI) adopted a resolution on "IP Licensing and Insolvency". The resolution regarding...more
Directors of an insolvent corporation face a host of difficult questions. Should they wind up operations or file for bankruptcy to preserve assets for creditors, or chart a riskier course that could lead the company back to...more
Royal Decree Law 4/2014, intended to promote efficiency in Spanish insolvency proceedings, is officially enacted with some important updates.
The Spanish legislature has finally enacted Royal Decree Law 4/2014 (the...more
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