Section 423 of the Insolvency Act 1986 allows for the reversal of certain transactions at an undervalue that are intended to prejudice the interests of creditors. The scope of Section 423 is extensive and may be used to...more
On 25 April 2023, the English Court of Appeal reversed a decision of the High Court that found three senior former employees of an investment adviser to an investment fund liable for dishonest assistance (amongst other...more
Under section 213 Insolvency Act 1986, liquidators may bring claims against third parties suspected of being a party to fraud, even where they were not involved in the management or control of the insolvent company.
The...more
The UK Supreme Court has found that an introducer of business was not entitled to any remuneration for a valuable introduction outside of circumstances expressly provided for in the contract.
This judgment highlights the...more
In a recent judgment the Court of Appeal in Kaefer Aislamientos SA de CV v AMS Drilling Mexico SA de CV & Ors [2019] EWCA Civ 10 clarified the three-stage test which must be applied by the Court when determining an...more
In a decision widely anticipated by investors in emerging market and distressed debt, the Court of Appeal has upheld the decision of the High Court to refuse to grant an indefinite moratorium on claims under certain English...more
12/22/2018
/ Appeals ,
Banks ,
Corporate Restructuring ,
Creditors ,
Cross-Border Insolvency Regulations (CBIR) ,
Debt ,
Debt Securities ,
Debtors ,
Foreign Bankruptcies ,
Moratorium ,
Reaffirmation ,
UK
In a 2-1 opinion, the Second Circuit overruled the district court in Marblegate Asset Management LLC v. Education Management Corp., finding no violation of the Trust Indenture Act (“TIA”) in connection with an out-of-court...more
1/28/2017
/ Appeals ,
Bonds ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Fraudulent Conveyance ,
Lenders ,
Payment Terms ,
Section 316(b) ,
Secured Notes ,
Senior Indenture ,
Trust Indenture Act ,
Vacated