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Insolvency Member State

Latham & Watkins LLP

Adler: A Spanish Perspective

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How would the Spanish court tackle the issues faced by the English Court of Appeal in Adler? Our analysis provides an instructive comparison for groups, shareholders, and creditors when considering where to restructure....more

Alston & Bird

European Enforcement Guide

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In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Latham & Watkins LLP

Schemes and Restructuring Plans: Where Are We Now?

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The forecast for the English scheme and plan looks set fair despite concerns around Brexit turbulence. The restructuring market’s appetite for Part 26 schemes of arrangement and Part 26A restructuring plans shows no...more

Latham & Watkins LLP

UK and European Restructuring Tools: Choosing the Optimal Forum for Creditor and Shareholder Cramdown

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Debtors and investors have an enhanced choice of restructuring venues as the EU Restructuring Directive is rolled out in Member States - A number of key European jurisdictions have now implemented the EU Preventive...more

BCLP

UK Private Equity: Horizon Scanning for 2021

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In a year dominated by the pandemic, it is easy to lose sight of some of the more granular legal developments and trends coming over the horizon for 2021 which, in their own ways, can also have a significant impact on the...more

A&O Shearman

Report on Loan Enforcement Laws Across the EU Published

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The European Commission has published a study analyzing the individual and collective loan enforcement laws in the 28 EU member states. The report, authored by Dr Steffek, University of Cambridge, sets out in anonymized...more

Latham & Watkins LLP

Spain to Implement and Apply Directive (EU) 2019/1023 to the Spanish Insolvency Act

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The Directive will require Spain to adapt key areas of the Spanish Insolvency Act, affecting the rights of debtors, creditors, and shareholders. On 26 June 2019, Directive (EU) 2019/1023 of the European Parliament and of...more

Shumaker, Loop & Kendrick, LLP

Cross-Border Insolvency: English High Court ruling impacts Delaware Chapter 11 case

David Conaway reports on a ruling by the English High Court in late 2018 that impacted the US Chapter 11 proceedings in Delaware. Originally published in Eurofenix, Spring 2019. ...more

White & Case LLP

Restructuring across Europe – a new era?

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All three institutions of the European Union have now approved the EU Preventive Restructuring Framework Directive. This is the EU's first attempt to "harmonise" insolvency laws across the Member States, that have disparate...more

Morrison & Foerster LLP

"No Deal" Brexit: the Bank Recovery and Resolution Directive (the ‘BRRD’) After Brexit

Government Position on Bank Recovery and Resolution Directive after Brexit - The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (the ‘BRR Regulation’) came into force on 20...more

Patterson Belknap Webb & Tyler LLP

Creditors’ Contractual Autonomy Does Not Triumph the Value of Bankruptcy Law as a Collective Dispute Resolution Mechanism

In a recent cross-border insolvency case, In re Agrokor d.d., 591 B.R. 163 (Bankr. S.D.N.Y. 2018), Judge Glenn of the United States Bankruptcy Court for the Southern District of New York recognized and enforced a...more

K&L Gates LLP

New EU Restructuring Directive: Harmony in Troubled Times

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Introduction - Following recent proposed changes to UK restructuring and insolvency law, a new European Union (“EU”) directive concerning restructuring within EU Member States proposed by the European Commission...more

Jones Day

Greater Flexibility for Belgian Companies Issuing Bonds

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The Situation: A draft law designed to substantially reform the Belgian Companies Code was submitted to the Belgian Parliament for review ("New Companies Code") on June 4, 2018. The Result: The New Companies Code will lift...more

Orrick, Herrington & Sutcliffe LLP

Stephen Phillips Weighs in on How Brexit Could Change UK Insolvency Law

Stephen Phillips, Co-head of Orrick's European Restructuring team, recently spoke with IFLR regarding the effect that Brexit could have on a century-old insolvency rule in the UK. ...more

Dechert LLP

Restructuring and Insolvency Bulletin Issue 2 - 2017: Focus on schemes of arrangement: recent key judicial decisions

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Schemes of arrangement remain a popular tool for companies to reach a compromise with their creditors and effect complex multi-jurisdictional restructurings. In this article, we highlight a number of recent judicial decisions...more

Jones Day

ECJ: Clarification on Withdrawing State Aid from Companies Deemed "Undertaking in Difficulty"

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The notion of "undertaking in difficulty" is a key element in State aid law because undertakings in difficulty can receive State aid only under the restrictive conditions for so-called rescue and restructuring aid. Any other...more

Orrick, Herrington & Sutcliffe LLP

Recast EU Insolvency Regulation Comes Into Force

From today, 26 June 2017, the Recast EU Insolvency Regulation (Council Regulation (EC) No. 2015/848) comes into force and will apply to all relevant insolvency proceedings (although existing and ongoing proceedings will...more

Jones Day

Group Insolvency Proceedings Under the Revised EU Insolvency Regulation

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Restructuring an international group of companies in Europe continues to be challenging. While companies can transact business freely across European borders, coordination between the stakeholders involved in a cross-border...more

Dechert LLP

Financial Services Quarterly Report - Fourth Quarter 2016: European Commission Proposes to Harmonise Insolvency Laws across Member...

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The European Commission (EC) announced proposals on 22 November 2016, which are intended to harmonise national insolvency laws across the EU through a proposed directive “on preventative restructuring frameworks, second...more

Morrison & Foerster LLP

8 Things You Need To Know About EU's Insolvency Proposal

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Did the European Commission read our article this summer? Because in November, harking back two years to its “recommendation,” which most of the industry had forgotten, the commission, now by directive, will mandate European...more

Morrison & Foerster LLP

MoFo Brexit Briefing: Flourishing by becoming familiar: how to attract restructuring investors to the post-Brexit UK

The process of Brexit will take years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and working...more

Morgan Lewis

New OHADA Uniform Act Streamlines Collective Insolvency Proceedings

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Innovations to the Act in late 2015 seek to modernize and simplify collective proceedings in OHADA member states. On 10 September 2015 in Grand-Bassam (Republic of Côte d’Ivoire), the Organization for the Harmonization...more

Locke Lord LLP

Brexit: What You Need To Know - Insolvency / Restructuring

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Some important areas of the UK insolvency law regime are impacted by the harmonisation and applicability of EU treaties, regulations, directives and court decisions: both directly (e.g., recognition of cross-border...more

Morrison & Foerster LLP

Brexit: Impact on Restructuring and Insolvency for Credit Institutions

The process of Brexit will take many years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and...more

Orrick, Herrington & Sutcliffe LLP

Brexit - What Now For Your Business

So, the UK has voted to leave the EU. Everyone has their own opinion and we've all seen the news reports and various viewpoints but what does this result mean for you in practical terms and where do we go from here? Here's...more

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