The UK government recently introduced legislation implementing changes to the special administration regime for regulated water companies (“WISAR”). The changes are designed to modernise the WISAR and to better align it with...more
Since its inception under CIGA 2020, there has been no shortage of legal commentary on the effectiveness of the legislation governing Part 26A Restructuring Plans, and the ways in which the judiciary have interpreted and...more
The bankruptcy Pegasus: stalking horse agreements in aviation -
The Covid-19 pandemic has had a significant impact on the aviation industry, with regular international travel being halted for prolonged periods since March...more
1/18/2022
/ 363 Sales ,
Aircraft ,
Airlines ,
Asset Purchase Agreements ,
Asset Purchaser ,
Aviation Industry ,
Bids ,
Chapter 11 ,
Commercial Bankruptcy ,
Contract Terms ,
Coronavirus/COVID-19 ,
Creditors ,
Debtors ,
Distressed Assets ,
Distressed Debt ,
Stalking Horse Bids ,
UK
What is a credit bid?
In certain circumstances, a secured lender can ‘bid’ its secured claim against the purchase price in a sale of the secured assets. The secured lender can compete with cash bids for the collateral,...more
As most global markets attempt a return to normal (or a new form of normal) business, it is hard to imagine a sector or an industry that isn’t already reeling from the effects of the past three months. Getting back on your...more
In the coming months, very few companies, whether public or private, will be able to avoid including statements in their quarterly reports or financials that attribute single or double digit percentage declines in revenue to...more
The Corporate Insolvency and Governance Bill introduces the most significant reforms to the UK’s corporate restructuring and insolvency framework in over 15 years. The UK government’s aim is to provide businesses with the...more
Globally, boards and management teams are taking stock of current operations and finances to identity vulnerabilities to the unprecedented distress that markets are anticipating from the pandemic for the next 12-18 months. As...more