Market -
overview Whilst Europe did not witness the flood of restructuring and insolvencies some had predicted at the start of the year, 2024 was a significant year nonetheless. Many commentators now predict an extended...more
Introduction & Key Takeaways - The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have...more
Until recently, two of the most important cases interpreting the Bankruptcy Code’s “safe harbor” provisions appeared to be in potential tension. First, in the U.S. Supreme Court’s 2018 Merit Management decision, the Supreme...more
10/1/2024
/ Bankruptcy Code ,
Chapter 11 ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
Liquidation ,
Parent Corporation ,
Recapitalization ,
Safe Harbors ,
Securities ,
Trustees
On September 10, 2024, the U.S. Court of Appeals for the Third Circuit held in In re The Hertz Corporation that unsecured creditors of a solvent debtor are entitled to receive the contractual rate of interest, rather than...more
On 23 January the Court of Appeal unanimously overturned the High Court’s decision to sanction Adler’s restructuring plan, following a successful challenge from an ad hoc committee of noteholders (the AHG). The judgment is...more
As 2024 gets underway, 2023 will be remembered as the year that King Charles III’s coronation captured our attention with its many (and occasionally bizarre) storied traditions and customs and, of course, for the passing of...more
Three years have passed since the COVID-19 pandemic reached the United States and its effects are still being felt today. Even though lockdown measures have largely disappeared and many workers have returned to the office,...more
8/17/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Executory Contracts ,
Financial Distress ,
Office Space ,
Remote Working ,
Restructuring ,
Section 365
What Happened -
On 21 April 2023, Mr Justice Leech gave his written reasons for sanctioning the Adler Group’s novel and ground-breaking English restructuring plan following a fully contested hearing and cross-examination...more
Market overview -
Few could have predicted the unexpected twists and turns 2022 would provide. A year in which the spectre of war came home to haunt Europe....more
On May 12, 2014, the State Administration of Foreign Exchange (“SAFE”) of the People’s Republic of China (the “PRC”) issued a notice on the Issuance of Administration Rules of Foreign Exchange on Cross-border Security (the...more