News & Analysis as of

Debtors Appeals United Kingdom

Patterson Belknap Webb & Tyler LLP

Courts Split Over Requirement for Chapter 15 Jurisdiction in the U.S.

To file bankruptcy in the U.S., a debtor must reside in, have a domicile or a place of business in, or have property in the United States. 11 U.S.C. § 109(a). In cross border chapter 15 cases, courts have considered whether...more

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan (UPDATE)

Jones Day on

On January 23, 2024, the Court of Appeal in England and Wales (the "Appeal Court") upheld a challenge launched by dissenting creditors to overturn the UK Restructuring Plan (the "RP") of the Adler Group previously approved by...more

Akin Gump Strauss Hauer & Feld LLP

Adler Restructuring Plan Set Aside: Reflections on the English Court of Appeal’s Landmark Ruling

In one of the most highly anticipated judgments in the European restructuring market in recent years, on 23 January 2024, the English Court of Appeal overturned the High Court’s decision sanctioning the Adler restructuring...more

Dechert LLP

UK Court Rules Debtor Cannot Use Corporate Vehicle to Evade Liability

Dechert LLP on

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

Conyers

Directors: “What shall we do?” – Interplay between the Sequana decision, HSBC v NewOcean Energy Holdings Ltd and the new Cayman...

Conyers on

Due to the recent challenging economic environment, the law’s treatment of creditors’ interests in a restructuring or insolvency has been a hot topic. From a creditor’s perspective, its objective will be straightforward: to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Dechert LLP

English Court of Appeal Refuses to Give Effect to Foreign Restructuring

Dechert LLP on

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

Bryan Cave Leighton Paisner

Bibby Factors Northwest Limited v HFD Limited and MCD Group Limited: Buyers of debt beware

In Bibby Factors Northwest Limited v HFD Limited and MCD Group Limited the Court of Appeal held that a company whose debt has been purchased (the “Debtor”) is under no obligation to inform the purchasing party (the “Funder”)...more

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