On 20 May 2020, in response to the coronavirus pandemic, the UK government published the text of the Corporate Insolvency and Governance Bill 2020 (the “Bill”), a 238-page document which sets out some of the most sweeping...more
Insolvency intersected with the UK government’s response to the coronavirus pandemic in an application to the High Court by the administrators of restaurant chain Carluccio’s. Considering the government’s Coronavirus Job...more
This client alert summarises the recent announcement by the UK government concerning reforms to UK insolvency law to help struggling businesses, being:
•US-style restructuring tools to allow companies to continue trading as...more
3/30/2020
/ Best Practices ,
Business Continuity Plans ,
Coronavirus/COVID-19 ,
Crisis Management ,
Emergency Management Plans ,
Health and Safety ,
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Workplace Safety
As COVID-19 continues to cause widespread economic disruption, the UK government has announced lending measures to support struggling businesses. This alert summarises:
•the measures available;
•key legal considerations for...more
In recent years the European direct lending market has grown dramatically. That expansion can be attributed to a number of factors, including (i) a sizeable jump in the number of private equity firms with direct lending...more
In recent years the European direct lending market has grown dramatically. Such expansion can be attributed to a number of factors, including (i) a sizeable jump in the number of private equity firms with direct lending...more
Case: Pantiles Investments Ltd & Anor v Winckler [2019] EWHC 1298 (Ch) (23 May 2019) -
A recent decision of the English High Court (the “Court”) has found a director guilty of fraudulent trading under s. 213 Insolvency Act...more
A recent decision of the High Court of Justice in England & Wales in Re Burnden Holdings (UK) Limited (in liquidation) [2019] EWHC 1566 (Ch) (“Burnden Holdings”) provides a thorough review of English dividends law, including...more
Much controversy followed the British government’s announcement in 2018 that it intended to reintroduce a statutory priority for certain tax debts of companies subject to the UK insolvency regime. Following consultation by...more
The Court of Appeal of England and Wales (“CA”) made a significant ruling on two matters affecting the powers and duties of directors of English companies....more
UNCITRAL has adopted and published a second model law to promote universalism of restructuring and insolvency. This new model law is now readily available for domestic implementation across the world. The earlier model law...more
English law restructuring and insolvency tools are used to implement financial restructurings and the external administration of foreign companies. The attractiveness of the English tools and legal system is highlighted by...more
Summary – Decision of U.K. Supreme Court -
The U.K. Supreme Court has closed off a challenge to the restructuring of Banco Esporito Santo (BES) under English law. Through an emergency liquidity facility creditors had...more
Distressed and special situations investors should take note of the U.S. Bankruptcy Court’s recent decision in Oi’s Chapter 15 case. We present our takeaways for investors.
The U.S. Bankruptcy Court refused to recognise...more
The Court of Appeal has upheld the validity of Banco de Portugal’s exercise of its resolution powers, overturning last year’s decision of the High Court -
The Facts -
Readers familiar with this case will recall that...more