News & Analysis as of

Creditors Liquidation

Conyers

Holt the Press! Developments in SPC Restructuring

Conyers on

Appointment of Restructuring Officers - In late 2023, in the case of Holt Fund SPC, the Grand Court ordered the first appointment of Restructuring Officers over particular segregated portfolios of a segregated portfolio...more

Troutman Pepper Locke

How Does a Chapter 7 Case Work in General? - Creditor’s Rights Toolkit

Troutman Pepper Locke on

The essence of a Chapter 7 business bankruptcy is the orderly liquidation of the business debtor’s assets by a bankruptcy trustee and the distribution of funds to creditors. Troutman Pepper Locke's Creditor’s Rights...more

Seward & Kissel LLP

Re-Volting, Short Circuit, and Seed of Doubt

Seward & Kissel LLP on

Li-Cycle files for bankruptcy, seeks protection for facilities in Greece | WXXI News - Li-Cycle filed a chapter 15 in the Southern District of New York on Wednesday to support its Canadian CCAA proceeding. The...more

Troutman Pepper Locke

What Is a Receivership and How Does It Differ From Bankruptcy?

Troutman Pepper Locke on

A receivership is an equitable remedy in which an independent third party is appointed by a court to manage and preserve a company’s assets. Though bankruptcy and receiverships are similar, there are significant differences...more

Carey Olsen

Standing room only: a “person aggrieved” under s.273 of the BVI Insolvency Act 2003

Carey Olsen on

In a judgment handed down on 15 April 2025, Stevanovich v Matthew Richardson and another (as Joint Liquidators of Barrington Capital Group Ltd (in Liquidation) [2025] UKPC 18, the Judicial Committee of the Privy Council (the...more

Carey Olsen

Singapore Apex Court recognises BVI as the COMI of a BVI registered company – an examination of article 16(3) of the Model Law

Carey Olsen on

In Re Fullerton Capital Limited (in liquidation) [2025] SGCA 11, the Singapore Court of Appeal has affirmed the importance of a debtor’s registered office (in this case in the BVI) as its centre of main interests (“COMI”)....more

Troutman Pepper Locke

What Is a Structured Dismissal of a Bankruptcy Case and How Does It Affect Creditors? - Creditor’s Rights Toolkit

Troutman Pepper Locke on

More often than not, Chapter 11 debtors seek to exit bankruptcy by confirming a Chapter 11 plan of reorganization or liquidation. However, not only is this approach expensive, but it requires that the debtors have sufficient...more

Jones Day

U.S. Bankruptcy Court Directs Turnover of Chapter 15 Debtor's Assets for Administration in Foreign Bankruptcy Proceeding

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Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more

Walkers

Jersey – Creditor-Driven Winding up Regime in Jersey

Walkers on

Changes to the Companies Law in 2022 have increased the options available to creditors of insolvent Jersey companies - A creditor is now able to apply to the Jersey Court to wind up a company a liquidated claim against a...more

Seward & Kissel LLP

Mortimer—We’re Back, Fabric of Our Lives, and Jump-Start (My Heart)

Seward & Kissel LLP on

Purdue's new Ch. 11 plan sidesteps nonconsensual releases | Law360 - Mediators in the Purdue Pharma bankruptcy case reported that the revised settlement no longer includes nonconsensual third-party releases....more

Awatif Mohammad Shoqi Advocates & Legal...

Preventive Settlement and Restructuring Procedures Under the UAE Bankruptcy Laws

Running a business involves taking risks in order to continue to scale new grounds. Sometimes, these risks may not be successful, leading to debts. Even without risks, debts may be incurred as a result of not being able to...more

Seward & Kissel LLP

Forever 22, Powder Room, and Initial Here

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Forever 21 plans nearly 200 store closures in second bankruptcy, Bloomberg News reports | Reuters - The U.S.-based operator of clothing retail chain Forever 21 is planning to shut down at least 200 additional locations as...more

Jones Day

Cramdown of Equity in Chapter 11 Plan Requires Assessment of Equity's Value to Satisfy "Fair and Equitable" Standard

Jones Day on

Chapter 11 plans that propose to extinguish existing equity interests because the estate does not have any value remaining after the payment of creditor claims are common. The Bankruptcy Code's "absolute priority rule"...more

Farrell Fritz, P.C.

Party City Seeks to Monetize its Lease Portfolio Through Bankruptcy Auction Process

Farrell Fritz, P.C. on

On December 21, 2024, Party City Holdco Inc. and certain of its subsidiaries initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas to accomplish an orderly wind down of its...more

Seward & Kissel LLP

Sack Exchange and Which Craft?

Seward & Kissel LLP on

Purdue's Sackler family offers to increase contribution in new opioid settlement, WSJ reports | Reuters - The Sackler family, owners of Purdue Pharma, is offering to increase their contribution to the opioid lawsuit...more

Walkers

Jersey Company Law Series: Migration / Continuation – Moving companies to and from Jersey

Walkers on

Effects of a company migration into - Jersey Steps to migrate a company out of Jersey...more

Walkers

Company Migration to and from Jersey

Walkers on

The application process and evidence required by the JFSC for a migration - Consideration of a migration application by the JFSC...more

Hendershot Cowart P.C.

Executory Contracts and Contract Rejection: What Non-Debtors Need to Know About Bankruptcy

Hendershot Cowart P.C. on

Bankruptcy debtors have special rights in contracts or leases where both parties have outstanding obligations, known in legal terms as “executory contracts” or “unexpired leases”. If you are doing business with a company that...more

International Lawyers Network

Bankruptcy Proceedings in the United States (Updated)

Bankruptcy Proceedings in the United States - General Overview of the Primary Protection Granted to a Debtor Under the United States Bankruptcy Code - The United States Bankruptcy Code, through its various chapters,...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Spain (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER SPANISH LAW - I. INTRODUCTION -REGULATION INSOLVENCY OF OF COMPANIES AND INDIVIDUALS. We believe that the opportunity to present this article...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Slovakia (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER SLOVAKIAN LAW - We present here the following answers to the questions mentioned in the ILN Restructuring & Insolvency Collaborative Paper which...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Romania (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ROMANIAN LAW - 1. A brief presentation of the bankruptcy/insolvency/rehabilitation proceedings of the country and their main differences. ...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Portugal (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER PORTUGUESE LAW - I. INTRODUCTION – KEY ASPECTS OF PORTUGUESE LAW - DEFINITION OF INSOLVENCY AND LEGAL FRAMEWORK - Insolvency proceedings consist of...more

BCLP

Key Lessons from the Collapse of ISG

BCLP on

The recent collapse of Interior Services Group (ISG), which filed for administration on 20 September 2024, has alarmed the industry. EY has been tasked with managing outstanding projects that Glenigan suggests total over £2.5...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in the Netherlands (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER DUTCH LAW - I. Insolvency proceedings in The Netherlands - There are four law-regulated insolvency proceedings in The Netherlands: bankruptcy...more

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