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McDermott Will & Emery

Das StaRUG und dessen Bedeutung für die Restrukturierung von Immobiliengesellschaften – Die wichtigsten Fragen und Antworten

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Insolvenzanträge von namhaften Projektentwicklern und Immobiliengesellschaften stellen die betroffenen Unternehmen und ihre Gläubiger vor große Herausforderungen und setzen die gesamte Immobilienbranche unter Druck....more

Conyers

Cayman Islands Restructuring: Obtaining Consent in a Crisis

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Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable. We are often engaged to assist creditors,...more

White & Case LLP

The director’s duty to consider creditor interests

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In Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10 (OP3 International)1 the Singapore Court of Appeal considered the trigger for when the director's duty to consider the interests of creditors is...more

White & Case LLP

Credit Bids on the rise in Australia

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Investors in the Australian market are more sophisticated than ever and – unsurprisingly – so too are the restructuring transactions being promoted by these investors. One such transaction is the credit bid. While not a...more

White & Case LLP

Navigating Chapter 11 Restructurings in Australia: How Important is Recognition?

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In today's globalised economy, local recognition of foreign insolvency proceedings can be essential for the successful implementation of cross-border restructurings. This is particularly relevant in Australia — a popular host...more

White & Case LLP

APAC FRI Pulse

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As 2024 comes into full swing, it is timely to reflect on the lessons from 2023 and the impact that global economies have had on the financial landscape in Australia. Post-global pandemic and in the midst of the current...more

Conyers

Update to the Adler High Court Decision: The UK’s Court of Appeal Overturns the High Court’s Approval of the Adler Restructuring...

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Following the English High Court’s written reasons for sanctioning the Adler Group restructuring plan on 21 April 2023, the English Court of Appeal has overturned the High Court’s decision and sent a strong message regarding...more

A&O Shearman

The Adler appeal: our key takeaways

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The Adler appeal: Our key takeaways from the landmark Court of Appeal judgment setting aside the Adler restructuring plan, and what it means for future restructuring plans - The Court of Appeal has handed down its...more

Conyers

Members’ schemes of arrangements in the Cayman Islands no longer must satisfy the ‘headcount test’

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From 31 August 2022, members’ schemes of arrangement pursuant to section 86 of the Companies Act of the Cayman Islands are not subject to the ‘headcount test’ being met, bringing further certainty to the process. The...more

Katten Muchin Rosenman LLP

Tips for Dissenting Stakeholders Challenging a Cram Down (or Up)

This article considers the key issues a dissenting creditor or shareholder (Dissenting Stakeholder) should consider when challenging a UK Restructuring Plan (Plan) under Part 26A of the Companies Act 2006. For convenience,...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

Jones Day

Sequana: Directors' Duties in a Distressed Landscape

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In Short - The Situation: Directors in England and Wales owe duties to the companies to which they are appointed (and may face personal liability for breaching such duties). Although the Companies Act 2006 obliges...more

White & Case LLP

2022 Half-year in review M&A legal and market developments

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We set out below a number of interesting English court decisions and market developments which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical guidance on...more

Skadden, Arps, Slate, Meagher & Flom LLP

How Directors Can Manage the UK Supreme Court’s ‘Balancing Exercise’ in Difficult Times

Economic downturns can put both companies and their boards to the test. An important judgment from the U.K. Supreme Court in October 2022, the Sequana case,1 clarifies the obligations of directors of a company facing the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Dechert LLP

International Capital Markets Newsletter - October 2022, Issue 7: The Corporate Insolvency & Governance Act 2020

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As the UK teeters on the brink of what would appear to be an inevitable recession, new restructuring tools introduced in the UK in 2020 pursuant to the Corporate Insolvency & Governance Act 2020 (“CIGA”) will ensure that...more

Cadwalader, Wickersham & Taft LLP

Sequana – What You Need to Know

Summary - The Supreme Court has delivered its long-awaited decision in BTI 2014 LLC v. Sequana S.A. [2022] UKSC 25.  It is a significant decision for the law of directors’ duties. For the first time the UK’s highest...more

Proskauer Rose LLP

NYC Office Tower Ch. 11 Shines Light On Blocking Provisions

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This article analyzes PWM Property Management LLC's bankruptcy filing in the U.S. Bankruptcy Court for the District of Delaware to explain the impact of the use of corporate governance blocking provisions. The filing also...more

Proskauer Rose LLP

Creditors Ask Court to Enforce Bankruptcy Blocking Provision and Approve Creditor Created Plan During Exclusivity Period in PWM...

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I. Introduction - The economic upheaval caused by the outbreak of COVID-19 was unprecedented in the United States and abroad. Employees were furloughed, businesses were mothballed or shut down altogether....more

International Lawyers Network

Establishing A Business Entity In Israel (Updated)

While there are a few different forms of “corporate” entities in Israel, this guide will focus on companies and partnerships as these are the entities that the non-Israeli businessman is most likely to set up or invest in if...more

Hogan Lovells

Significant developments in the UK's insolvency regime: a creditor's perspective

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In this article we look at current trends and developments at the intersection between insolvency and dispute resolution, including a rundown of some of the latest legislative changes, and issues to consider when litigating...more

Morrison & Foerster LLP

The Part A1 Moratorium: Stop Right Now, Thank You Very Much – I Need Some Time For A Rescue

The Part A1 Moratorium is an insolvency process that was introduced by the Corporate Insolvency Governance Act 2020 to help financially distressed companies obtain temporary protection from creditor action, while the company...more

International Lawyers Network

Establishing A Business Entity In Israel (Updated)

While there are a few different forms of “corporate” entities in Israel, this guide will focus on companies and partnerships as these are the entities that the non-Israeli businessman is most likely to set up or invest in if...more

Orrick, Herrington & Sutcliffe LLP

COVID-19 UK: The Corporate Insolvency and Governance Act 2020 – The UK Restructuring Plan

Introduction - The economic impact of COVID-19 will be far reaching. Governments around the globe are currently grappling with a balance between the protection of the health of their populations and limiting damage to...more

Goodwin

UK Corporate Insolvency and Governance Act 2020 Brings Significant Changes to Law

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The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out...more

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