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
The rule against reflective loss bars claims against wrongdoers by shareholders of a company (for instance for the diminution in the value of their shareholding) where the shareholder’s loss is merely reflective of the loss...more
7/20/2020
/ Board of Directors ,
Business Losses ,
Corporate Misconduct ,
Creditors ,
Foreign Judgments ,
Fraud ,
Fraudulent Transfers ,
Freezing Order ,
Insolvency ,
Reflective Loss Rule ,
Reversal ,
Shareholders ,
UK Supreme Court
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