News & Analysis as of

United Kingdom Creditors Financial Distress

K&L Gates LLP

UK Company Restructuring Plans: What Is Next After Adler?

K&L Gates LLP on

The England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a...more

Cadwalader, Wickersham & Taft LLP

Comet: The Court of Appeal provides timely guidance regarding unlawful preferences

Overview - The Court of Appeal has overturned the decision of the High Court in Carton-Kelly v Darty Holdings SAS, providing welcome clarity for directors of distressed companies when considering whether to make payments...more

Skadden, Arps, Slate, Meagher & Flom LLP

How Directors Can Manage the UK Supreme Court’s ‘Balancing Exercise’ in Difficult Times

Economic downturns can put both companies and their boards to the test. An important judgment from the U.K. Supreme Court in October 2022, the Sequana case,1 clarifies the obligations of directors of a company facing the...more

K&L Gates LLP

The Position of Directors of Financially Distressed Companies

K&L Gates LLP on

The UK Supreme Court has delivered its long awaited judgment in BTI v Sequana. It considers if and when directors of a financially distressed company incorporated in England and Wales have a duty to consider, or to act in...more

K&L Gates LLP

COVID-19: UK Restructuring and Insolvency Update - July 2021 Is the Month to Watch

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The UK government has extended its suspension of various rules and procedures affecting distressed businesses as a result of the coronavirus (COVID-19) pandemic. However, with the UK lockdown easing on a rolling basis up to...more

Goodwin

The Return of Crown Preference on 1 December, 2020

Goodwin on

The return of Crown Preference on 1 December, 2020 has widely united the restructuring community against the new measures. Whilst the rationale that the Treasury should have priority for sums received by a debtor on its...more

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