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Class Wars, Cram Downs and Share Pledge Enforcements: English Schemes of Arrangement to Date in 2020

Cram-Down There has been much commentary on the new restructuring plan which is modelled on the existing scheme of arrangement but includes cross-class cram-down powers afforded under section 901G of the new Part26A of the...more

Special Situations and the UK Corporate Insolvency and Governance Act

The enacted Corporate Insolvency and Governance Act (the Act) introduces three permanent reforms to the existing insolvency legislation and certain temporary measures designed to address the immediate impact of COVID-19 on UK...more

European Financing Dynamics in the Second Half of 2020

Although companies across many sectors felt the impact of the Coronavirus (COVID-19) pandemic immediately, the true effects and likely impact will not be seen until later this quarter and beyond. Whilst some companies have...more

Insolvency Reforms Under the Corporate Insolvency and Governance Bill

On 20 May 2020, the Corporate Insolvency and Governance Bill (the Bill) was introduced to the House of Commons for its first reading, with the aim of completing all its stages in the Commons and progressing through the House...more

Stress and Distress: CFO Checklist

Three months into the outbreak of the Coronavirus (COVID-19) in the United Kingdom, there are clearly many unknowns as businesses seek a return to normality or, at the very least, economic stability. Such uncertainty may...more

Special Situations: 102

During these unprecedented times, many funds seek opportunities to deploy capital, with a particular focus on the “special situations” space. A certain amount of heightened risk (or risk perception) in this economic climate...more

Debt Buybacks: What You Need to Know

The Coronavirus (COVID-19) pandemic has not been in play long enough for market participants to properly assess its long-term impact. In the short term, however, the pandemic continues to affect the markets, with many loans...more

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