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Insolvency Ipso Facto Clauses

Pillsbury Winthrop Shaw Pittman LLP

ISDA and SIFMA Back Dealers’ Bankruptcy Interest Swap Termination Claims over Debtor Objection

In an amicus brief, the International Swaps and Derivatives Association and the Securities Industry and Financial Markets Association argued that the amount of a dealer’s termination claim under the 1992 ISDA Master Agreement...more

White & Case LLP

New Swedish Restructuring Act

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Effective from 1 August 2022, a new Restructuring Act (Sw. lag om företagsrekonstruktion), which implements the EU Directive on restructuring and insolvency (the "Restructuring Directive"), comes into force in Sweden. As...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Ipso Facto Clauses - Bankruptcy Basics for New and Non-Bankruptcy Attorneys

This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals.  This entry will discuss how...more

Shumaker, Loop & Kendrick, LLP

Do prohibitions against ipso facto clauses push suppliers into the insolvency abyss? - Eurofenix

David examines the impact of ipso facto clauses with reference to UK and Dutch insolvency proceedings by Simeon Gilchrist and Nicolaes Tollenaar. Originally published in Eurofenix, Winter 2020/2021. ...more

Hogan Lovells

Hong Kong government announces long-awaited corporate rescue regime

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The Hong Kong government is proposing much-anticipated legislation for the introduction of a corporate rescue procedure and insolvent trading regime. Hong Kong has, for years, struggled to introduce a statutory corporate...more

Jones Day

Legislative Update: Enactment of the UK Corporate Insolvency and Governance Act

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On June 25, 2020, the new UK Corporate Insolvency and Governance Act ("Act") became law after it was given Royal Assent by Queen Elizabeth II. The changes introduced by the Act will have a significant impact on the future...more

White & Case LLP

Termination For Insolvency in Construction Contracts

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Recent insolvency law reforms in the UK, Singapore and Australia impact upon the ability of a party to a construction contract to terminate it due to the other party's insolvency... ...more

White & Case LLP

Singapore’s omnibus insolvency legislation

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The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more

White & Case LLP

Ipso facto clauses under the Insolvency, Restructuring and Dissolution Act

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The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more

Faegre Drinker Biddle & Reath LLP

Key Takeaways From the Corporate Insolvency and Governance Act 2020: Restriction on Ipso Facto Clauses

On 26 June 2020 the Corporate Insolvency and Governance Act 2020 (the Act) came into force, introducing a number of permanent reforms to English insolvency and restructuring law. Among these reforms is a restriction on the...more

A&O Shearman

UK corporate insolvency reforms: the nuts and bolts of the future UK restructuring toolkit

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The UK has for some time been considered the jurisdiction of choice for implementing large scale, and often highly complex, cross-border financial restructurings. The pre-eminence of the UK restructuring market going forward,...more

Bennett Jones LLP

Supreme Court to Consider Enforceability of Consequences Imposed Upon Insolvency

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The Supreme Court of Canada recently granted leave to appeal from the Alberta Court of Appeal's decision in Capital Steel Inc v Chandos Construction Ltd, 2019 ABCA 32. The case addresses the enforceability of clauses that...more

K&L Gates LLP

Consultation Process on Ipso Facto Insolvency Regulations Begins

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In September 2017, the Australian government introduced the most significant reforms to Australia's insolvency regime for the past 30 years with the enactment of the Treasury Laws Amendment (2017 Enterprise Incentives No. 2)...more

K&L Gates LLP

Navigating the Insolvency Reforms - Impending Changes to Contractual Termination Rights

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Last year the government introduced the most significant reforms to Australia's insolvency regime for over three decades. Among other changes, reforms that will come into effect on 1 July this year (or earlier by...more

Polsinelli

The Devil's Dictionary of Bankruptcy Terms: Ipso Facto Clause/Provision

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IPSO FACTO CLAUSE/PROVISION: A contract clause that terminates or modifies, or grants the non-debtor party the right to terminate or modify, the contract upon the debtor’s bankruptcy filing or the insolvency or financial...more

Morgan Lewis

Reform Comes to Australian Restructuring and Insolvency Law

Morgan Lewis on

Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors. ...more

K&L Gates LLP

Australian Insolvency Reforms - The Harbour Appears Safer Than it Was

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On 1 June 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 (Bill) was introduced to the House of Representatives. The Bill introduces amendments to the Corporations Act 2001 (Cth) (Act) that are...more

K&L Gates LLP

The Harbour is Not Yet Safe – Reform on the Move in Australia

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Following on from the Productivity Commission's Report on Business Set-up, Transfer and Closure, the Australian Government has issued a Proposals Paper entitled Improving bankruptcy and insolvency laws. The paper has...more

K&L Gates LLP

Will the Safe Harbour Ipso Facto Assist with Restructuring in Australia? - Proposed Reform to Australian Insolvency Laws

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The Productivity Commission has handed down its long-awaited report on Business Set-Up, Transfer and Closure (Report) to the Australian Federal Government. Key recommendations from the Report have been embraced by the...more

K&L Gates LLP

The Limited Liability Company and Bankruptcy Code

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This K&L Gates Legal Insight highlights certain potential bankruptcy and insolvency issues that clients and legal practitioners should take into account when forming a limited liability company (“LLC”) under state law. These...more

K&L Gates LLP

German Supreme Court renders ipso facto clauses invalid and unenforceable – Roma locuta, causa finita?

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An ipso facto clause is a contractual provision which states that a contract or agreement automatically terminates or may be terminated by a party if bankruptcy proceedings have been instituted over the other party’s assets....more

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