Actions brought against the BHS directors by the group’s liquidators have resulted in the largest reported award for wrongful trading since the provision’s introduction, but the judgment highlights some unsettled areas of the...more
The Legal Statement applies areas of insolvency law to digital assets, providing valuable guidance on the approach English courts will take.
In October 2023, the UK’s Jurisdiction Taskforce (UKJT), which is made up of...more
The decision represents the first appellate-level ruling on the Part 26A regime.
On 23 January 2024, the Court of Appeal set aside the sanction of the Adler restructuring plan (RP) in the first appellate-level decision on...more
2/1/2024
/ Cramdown ,
Creditors ,
Debt Restructuring ,
Insolvency ,
Jurisdiction ,
Lenders ,
Liquidation ,
Pari Passu ,
Priority Debt ,
Restructuring ,
Shareholders ,
UK
The model law aims to maximise group-wide recoveries in an insolvency through cooperation and efficient administration.
The UK government has announced its intention to legislate to implement the UNCITRAL Model Law on...more
In a new ruling, the UK Supreme Court concluded that the rule applies only when a company is “insolvent or bordering on insolvency”.
On 5 October 2022, the UK Supreme Court handed down judgment in BTI 2014 LLC v. Sequana...more
The rules provide an arbitration procedure to determine the amount of affordable rent arrears for a commercial tenant where landlord and tenant have been unable to reach a consensual agreement.
On 9 November 2021, the UK...more
11/19/2021
/ Arbitration ,
Arrearages ,
Commercial Leases ,
Commercial Property Owners ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Dispute Resolution ,
Pending Legislation ,
Rent ,
Rental Property ,
UK
The ruling confirmed that Section 423 of the Insolvency Act 1986 has extensive international reach, and does not require a transaction at an undervalue to leave the debtor with insufficient assets.
Background -
The...more
The decision confirms that company voluntary arrangements remain a flexible tool for restructuring leasehold portfolios.
Key Points:
The judge rejected each of the landlords’ arguments, confirming that:
..A CVA...more