News & Analysis as of

Corporate Restructuring Financial Distress

K&L Gates LLP

UK Company Restructuring Plans: What Is Next After Adler?

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The England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a...more

Goodwin

Ten Considerations for Large-Cap and Upper-Middle-Market Borrowers in Early Stages of Distress

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Companies continue to face economic uncertainty caused by a variety of factors such as high interest rates, changing consumer spending habits, a tight debt and equity environment, labor market and inflationary pressures,...more

Conyers

Under Pressure: Key considerations and practical tips for BVI companies approaching insolvency

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Inflationary pressures and increasing interest rates are expected to continue to have a negative impact on the global economy during 2023. In this article we consider restructuring options under BVI law available to companies...more

Hogan Lovells

Negotiated settlements: New opportunities for Italian distressed businesses?

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The conversion into statute on 23 October 2021 of the so-called Business Distress Bill adds new provisions to those recently adopted by the Italian government to address corporate distress following the COVID-19 pandemic, to...more

Sheppard Mullin Richter & Hampton LLP

Seven Commandments for the Financially Distressed Company

Most restructuring professionals will tell you that there is no “typical” restructuring. That is absolutely true. Every financially distressed business is different and the character and direction of its restructuring will be...more

K&L Gates LLP

COVID-19: UK Government Announces End of Temporary Restrictions on Certain Insolvency Proceedings

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The UK government has announced that temporary restrictions on creditor action introduced in the Corporate Insolvency and Governance Act 2020 are to be phased out. These temporary restrictions were put in place to protect...more

Greenberg Glusker LLP

Bankruptcy & Restructuring - A Roundtable Discussion

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Due in large part to the challenges brought on by the pandemic, Chapter 11 bankruptcy filings last year hit the highest level since 2010—a trend expected to continue throughout this year. Bankruptcy and restructuring is...more

A&O Shearman

The Corporate Insolvency and Governance Act 2020 – extension of temporary measures (UPDATED)

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The Corporate Insolvency and Governance Act (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least, the widespread...more

Jones Day

Directors' Duties—A European Overview: Financial Distress and COVID-19 - November 2020

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A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant...more

White & Case LLP

A tale of two retail loan markets

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COVID-19 split the retail financing market—players of scale with online capabilities thrived, while retailers reliant on brick-and-mortar stores for the bulk of their earnings came under increasing financial pressure - ...more

Jones Day

Legislative Update: Enactment of the UK Corporate Insolvency and Governance Act

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On June 25, 2020, the new UK Corporate Insolvency and Governance Act ("Act") became law after it was given Royal Assent by Queen Elizabeth II. The changes introduced by the Act will have a significant impact on the future...more

Morgan Lewis

Singapore Introduces ‘Simplified Insolvency Programme’ for Micro and Small Companies

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Micro and small companies will be able to use a “Simplified Insolvency Programme” to be introduced by proposed amendments to Singapore’s Insolvency, Restructuring, and Dissolution Act 2018 (IRDA)....more

Dechert LLP

UK Life Sciences and Healthcare Newsletter - September 2020: Changes to Insolvency Rules Provide Breathing Space

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The UK Government has long been considering significant reforms of the UK’s insolvency framework, even before the advent of COVID-19. The pandemic resulted in the acceleration of those reforms and the passing of the new...more

Goodwin

Restructuring: Top Ten Questions for Boards to Consider During a Down Cycle

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Board Decision Making in a Down Cycle - The last several months have been unprecedented in terms of how quickly and drastically business environments have changed. With widespread uncertainty and financial distress...more

White & Case LLP

Ipso facto clauses under the Insolvency, Restructuring and Dissolution Act

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The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more

Foster Garvey PC

OTA & Travel Distribution Update: Booking Holdings and TripAdvisor dominate headlines with second-quarter earnings releases,...

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Below is an abbreviated version of this week’s OTA &Travel Distribution Update. Enjoy....more

Hogan Lovells

The current oil and gas environment: Navigating distressed operators and business partners

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Rick Wynne: The JOAs are very common; they allow co-owners of undivided fractional interests to use a single operator, but they also are particularly vulnerable in a bankruptcy because they’re normally executory contracts...more

Morgan Lewis

Out-of-Court Restructurings During the COVID-19 Pandemic

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While the full extent of COVID-19’s impact on the economy remains to be seen, it will likely create significant restructuring activity for companies already experiencing financial distress and otherwise healthy companies...more

Dechert LLP

In Second Circuit, “Economic Reality” and Degree of Control to Determine Whether an “Employer” Faces “Single Employer” Liability

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In a recent decision on motions for summary judgement in the TransCare case, the SDNY bankruptcy court addressed the test for the imposition of liability under the US and New York Worker Adjustment and Retraining Notification...more

Dechert LLP

Revisiting the DIFC Insolvency Law in the Context of the COVID-19 Crisis: An Innovative Toolkit for the Turnaround of Troubled...

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In the wake of the high profile collapse of the private equity firm Abraaj Capital, the Dubai International Financial Centre (“DIFC”) updated its insolvency regime with the introduction on June 13, 2019 of the new DIFC...more

Patterson Belknap Webb & Tyler LLP

Retail Apocalypse 2.0: The Fallout from the Coronavirus Will Present New Challenges to an Already Reeling Sector of the Economy

Changes in culture and technology have been reshaping the way Americans acquire and consume goods and services for a generation. Indeed, long before the coronavirus, insolvency professionals and industry experts understood...more

White & Case LLP

Lessons from the trenches: Tips from a leasing company’s chapter 11

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Fixed-wing leasing companies should consider six tips for navigating a possible restructuring precipitated by the COVID-19 crisis. About a year ago, I completed the most exhausting marathon of my life serving as the chief...more

Lowenstein Sandler LLP

When Financial Stress Turns to Distress–Restructuring Tools to Avoid Disaster Parts 1 and 2: Chapter 11 Checklist and What Else Is...

In this Client Alert series, Lowenstein’s Bankruptcy, Financial Reorganization & Creditors’ Rights Department will introduce the various restructuring tools available to help businesses avoid financial catastrophe in the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Medicare and Medicaid Developments in Health Care Bankruptcies

In 2019, the increased wave of distressed health care companies continued, and with downward pressure on reimbursement rates, regulatory changes, decreased occupancy rates and technological advances, this trend is unlikely to...more

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