The High Court has confirmed it will adopt a broad definition of a “financial institution” for the purposes of the transferability provisions in a loan agreement including: (i) a newly incorporated company with a share...more
The EU has taken aim at fraudulent or abusive forum shopping in the Recast Insolvency Regulation, acknowledging the potential for misuse by debtors seeking to take advantage of more flexible insolvency processes available in...more
10/19/2017
/ Cayman Islands ,
Chapter 15 ,
COMI ,
Cramdown ,
Creditors ,
Debt Restructuring ,
Debtors ,
EU ,
Foreign Bankruptcies ,
Foreign Judgments ,
Foreign Subsidiaries ,
Forum Shopping ,
Insolvency ,
Jurisdiction ,
Parent Corporation ,
Shareholders ,
Value Maximization
98% of the liabilities of Lehman Brothers International (Europe) (in administration) (“LBIE”) were denominated in non-sterling currencies. The fall in sterling after LBIE entered administration resulted in significant paper...more
The existing insolvency rules in the UK have been recast with the aim to "modernize and consolidate" the procedural framework for insolvency processes in the UK and promote efficiency. The Insolvency (England and Wales) Rules...more