Accountability is the major theme of the recent government consultation regarding ‘Insolvency and Corporate Governance’, which follows high profile failures such as BHS and Carillion. The consultation contains proposals...more
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
In a significant judgment on 9 November 2017, the High Court in London granted recognition of the extraordinary administration proceedings on-going in respect of the Croatian conglomerate Agrokor as a foreign proceeding under...more
1/29/2018
/ Appeals ,
Croatia ,
Cross-Border Insolvency Regulations (CBIR) ,
Cross-Border Transactions ,
Enforcement Actions ,
Foreign Bankruptcies ,
Lenders ,
Member State ,
Moratorium ,
Public Policy ,
Russia ,
UK
In recent months certain restructuring processes have gained quite some notoriety in press headlines in connection with a number of UK businesses. This article provides secured lenders with a brief recap on the key points to...more
1/19/2018
/ Commercial Tenants ,
Corporate Restructuring ,
CVAs (Company Voluntary Arrangements) ,
Insolvency ,
Landlords ,
Lenders ,
Liquidation ,
Secured Debt ,
Subsidiaries ,
UK ,
UK Insolvency Act ,
Unsecured Debt
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
10/17/2017
/ Brussels Regulation ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Debt Restructuring ,
EU ,
Exceptions ,
Insolvency ,
Jurisdiction ,
Member State ,
Scheme of Arrangement ,
Share Class Structures ,
Share Classes ,
Shareholder Votes ,
UK
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