HMRC has successfully opposed a restructuring plan (“Plan”) brought by The Great Annual Savings Company Limited (“GAS” or “the Company”) under which HMRC would have been crammed down as a dissenting creditor. The Court held...more
Hong Kong’s last remaining independent airline carrier, Hong Kong Airlines Limited has undergone a significant debt restructuring. In parallel proceedings (a restructuring plan in the UK and a scheme of arrangement in Hong...more
Although the IMF recently announced at Davos that it would upgrade its global economic forecasts, with an improvement predicted in the later part of 2023 and into 2024, times remain difficult for many companies and their...more
On 26 November 2020, the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (the “Regulations”) came into force....more
On 28 March 2020 the Secretary of State for BEIS, Alok Sharma, announced that changes would be made to the UK insolvency laws to help companies "…emerge intact the other side of the COVID-19 pandemic…to give them extra time...more
On 19 September 2019, Norris J handed down judgment in the challenge brought by six landlords against the Debenhams Retail Limited (Debenhams) company voluntary arrangement (CVA) which was approved by 94.71% of Debenham’s...more
9/20/2019
/ Commercial Bankruptcy ,
Creditors ,
CVAs (Company Voluntary Arrangements) ,
Debt ,
Debt Restructuring ,
Fairness Standard ,
Forfeiture ,
Insolvency ,
Jurisdiction ,
Landlords ,
Liquidation ,
Plan of Arrangement ,
Retail Market ,
Retailers ,
UK ,
UK Insolvency Act ,
Unfair Prejudice ,
Variation Clauses