Archive: September 2023

In the latest development in the long running Galapagos litigation, the English High Court held, in July 2023, that the 2019 restructuring was valid.

Earlier this year the English High Court held that a charge granted by a company (Avanti) was properly characterised as a fixed charge (as opposed to a floating charge), despite Avanti retaining a degree of control to dispose of the charged assets. The decision is the first major ruling on how to characterise fixed and floating charges since the leading House of Lords’ case, Re Spectrum Plus . It marks an evolution in the law by moving away from a rigid analysis that suggested only total control over a charged asset by a security holder would constitute a fixed charge.

The current headwinds facing businesses in the global economy have led to an increase in client queries on cross border restructuring solutions. Those businesses that understand the options available to them will have the advantage when it comes to navigating economic challenges. In response, we have updated our interactive cross border restructuring guide to provide a general overview of restructuring and insolvency frameworks across more than 20 jurisdictions.

The US Bankruptcy Code provides significant advantages to businesses looking to restructure their financial affairs, liquidate assets, and administer claims.