News & Analysis as of

Restructuring

A&O Shearman

Sanction for scheme of arrangement refused by Hong Kong court: Key takeaways

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Notwithstanding that the requisite statutory majority was obtained in the relevant creditors’ scheme meeting, the Hong Kong Companies Court refused to sanction a scheme of arrangement propounded by a company that professed to...more

Akin Gump Strauss Hauer & Feld LLP

New Money - Marking the Boundaries

The majority of all 2023 EMEA restructurings involving an equitisation and/or a maturity extension required the provision of new money. While equitisation can solve for an over-leveraged capital structure, and maturity...more

A&O Shearman

Singapore: reinventing an ASEAN hub for investments, funds and restructuring

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Singapore’s status as a leading financial centre in Asia and regional hub for commodity trading, shipping, and increasingly, private capital activity has been cemented over the years, especially in the past decade....more

Dunlap Bennett & Ludwig PLLC

Opportunities In Distressed M&A: A Guide For Buyers

Distressed mergers and acquisitions (M&A) involve companies in financial or operational distress, potentially on the brink of insolvency or already grappling with significant debt burdens. These transactions are typically...more

Eversheds Sutherland (US) LLP

US Supreme Court weighs in on insurer rights in bankruptcy

In the ever-evolving landscape of insurance law, a recent decision by the Supreme Court has set a new precedent that could have far-reaching implications for insurers in bankruptcy cases. In the case of Truck...more

Hahn Loeser & Parks LLP

Ohio: An Introduction to Bankruptcy/Restructuring (Chambers)

In 2023, despite aggressive predictions of a near-term recession, the economy remained relatively steady. This resulted in an uneven year for restructuring. Substantial money has been raised in the private credit markets and...more

Pillsbury Winthrop Shaw Pittman LLP

SCOTUS Grants Insurers “Party in Interest” Standing in Chapter 11 Cases

In a rebuke of a common law doctrine that denied insurer standing in chapter 11, the U.S. Supreme Court ruled unanimously that insurers with financial responsibility for claims asserted in bankruptcy are parties in interest...more

A&O Shearman

Court awards first security for costs order in respect of a challenge to a restructuring plan

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Court awards first security for costs order in respect of a challenge to a restructuring plan. Key takeaways - The High Court has for the first time awarded security for costs in respect of a challenge to a proposed...more

Paul Hastings LLP

The Legal 500’s Restructuring & Insolvency Comparative Guide

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Our London Financial Restructuring team authored the UK chapter of the 8th Edition of The Legal 500’s “Restructuring & Insolvency Comparative Guide". The guide provides information on the current issues affecting...more

Troutman Pepper

What Is the Difference Between Pre-Packaged and Pre-Negotiated Bankruptcy Plans, and What Are Restructuring Support Agreements? -...

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Unlike traditional Chapter 11 “free fall” bankruptcy cases, some debtors enter bankruptcy with pre-packaged or pre-negotiated plans, offering major advantages such as reduced case length. These plans, largely drafted and...more

McDermott Will & Emery

Das StaRUG und dessen Bedeutung für die Restrukturierung von Immobiliengesellschaften – Die wichtigsten Fragen und Antworten

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Insolvenzanträge von namhaften Projektentwicklern und Immobiliengesellschaften stellen die betroffenen Unternehmen und ihre Gläubiger vor große Herausforderungen und setzen die gesamte Immobilienbranche unter Druck....more

Katten Muchin Rosenman LLP

Exploring the Intersection of Gender, Restructuring and Distress in the Life Sciences: A Discussion With Angela Allen

In the latest TMA Chicago Midwest Podcast episode, I was delighted to speak with Angela Allen, a partner at Jenner & Block in Chicago. Angela's law practice focuses on all aspects of financial distress, from protecting...more

White & Case LLP

Statutory Avoidance Provisions in Singapore – An Overview

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Following an overhaul of the Singapore insolvency regime which came into force on 30 July 2020, the insolvency and restructuring framework was consolidated in the omnibus Insolvency, Restructuring and Dissolution Act 2018...more

Seward & Kissel LLP

Grand Salame, Making a Statement, Many Happy Returns, and Going Yardi

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Ex-FTX Executive Salame Sentenced to 7.5 Years in Prison | Reuters - Former co-CEO of bankrupt cryptocurrency exchange FTX’s Bahamian subsidiary has been sentenced to 90 months in prison after pleading guilty in September...more

Akin Gump Strauss Hauer & Feld LLP

Updates to the UK National Security and Investment Act

Key Points - Following our Alert last month addressing the United Kingdom Government’s intentions to improve the workings of the National Security and Investment Act 2021 (NSIA), the U.K. Government has now published two new...more

Kramer Levin Naftalis & Frankel LLP

NAIC Group Issues Guidance on Corporate Restructurings

Insurers with unwanted runoff blocks of business should consider the latest guidance from insurance regulators on potential transactional structures that could mitigate this issue. On May 13, the Restructuring Mechanisms (E)...more

Hogan Lovells

No clear picture - Hong Kong court criticises legal representatives in refusing to sanction scheme of arrangement

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A Hong Kong court has refused to sanction a scheme of arrangement, saying that practitioners should explain the key terms and effect of any proposed restructuring in a way which can be easily understood by the creditors and...more

Proskauer Rose LLP

Proskauer's Hedge Start: Key Structuring Issues

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A key initial decision for a manager launching a new hedge fund is to decide between: A “master-feeder” fund structure: In a typical “master-feeder” structure, an onshore “feeder” fund and an offshore “feeder” fund both...more

White & Case LLP

Navigating Chapter 11 Restructurings in Australia: How Important is Recognition?

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In today's globalised economy, local recognition of foreign insolvency proceedings can be essential for the successful implementation of cross-border restructurings. This is particularly relevant in Australia — a popular host...more

White & Case LLP

APAC FRI Pulse

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As 2024 comes into full swing, it is timely to reflect on the lessons from 2023 and the impact that global economies have had on the financial landscape in Australia. Post-global pandemic and in the midst of the current...more

Jones Day

The Adler Aftermath: From Colombia to Germany, Junior Creditors Crammed and Compromised

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Following the seminal Adler judgment, the English Court has now ruled on a further two contested restructuring plans ("RPs"). These two judgments provide important commentary relevant to all parties considering or affected by...more

Jones Day

Business Restructuring Review Vol. 23 No. 2 | March–April 2024

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Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the “SICC”) is a division of the General Division of the...more

Jones Day

Singapore Court Issues Landmark Decision Recognizing Indonesian Restructuring Plan

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The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That...more

Mayer Brown

Adler: Court of Appeal sets aside sanction of a Restructuring Plan

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In the first appeal of a restructuring plan under Part 26A Companies Act 2006, the English Court of Appeal unanimously set aside the first instance decision sanctioning the plan proposed by AGPS BondCo PLC, part of the Adler...more

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan (UPDATE)

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On January 23, 2024, the Court of Appeal in England and Wales (the "Appeal Court") upheld a challenge launched by dissenting creditors to overturn the UK Restructuring Plan (the "RP") of the Adler Group previously approved by...more

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