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Restructuring Touchpoint

When banks go bust – an overview of the UK Special Resolution Regime

May 31, 2023

The SRR was created to deal with failing banks following the 2008 financial crash and the run on the first UK bank in more than a century, Northern Rock. The SRR was introduced by the Banking Act 2009 (BA 2009) and subsequently amended, notably to comply with the EU Bank Recovery and Resolution Directive (BRRD), Directive 2014/59/EU.

Pre-pack sales add to the German restructuring toolbox

May 12, 2023

A pre-pack procedure provides for the negotiation of the sale of a financially distressed entity, as a going concern, prior to the commencement of the insolvency proceedings through which it is executed. The concept is widely used in the UK in the course of an administration.

Time is almost up on the ipso facto grandfathering clock

May 10, 2023

Incredibly it has been almost 5 years since the introduction of the ipso facto reforms to the Corporations Act 2001 (Cth) (Act). Most commercial contracts will typically include a clause that allows one party to terminate or modify the contract if the other party becomes insolvent, even if there is no other default.

English High Court approves latest fully contested restructuring plan: Adler group - PART TWO

May 10, 2023

In the second of two blog posts on the Adler group restructuring plan, we look at the court’s decision to sanction the scheme and the practical implications for future restructurings.

English High Court approves latest fully contested restructuring plan: Adler group – PART ONE

May 10, 2023

In the first of two blog posts on the Adler group restructuring, we look at the background to the plan, the key terms, and the key issues for the court had to grapple with.

Supreme Court: Bankruptcy Code 363(m) does not limit appellate jurisdiction over sale orders

April 26, 2023

SCOTUS held that Section 363(m) of the Bankruptcy Code is not “jurisdictional” and does not limit a court’s authority to hear an appeal of a bankruptcy sale order.

StaRUG a fallen Star

April 26, 2023

As a consequence of the 2019 EU restructuring directive, new preventive restructuring frameworks have been created in almost all European Union member states.

Evaluation of the UKs CIGA Reforms: A Best Practice Model for other jurisdictions

April 26, 2023

Scott Atkins discusses the UK Restructuring Plan under CIGA with Felicity Toube KC, Hilary Stone, and Professor Peter Walton in the April 2023 edition of the South Square Digest.

When is a Cayman Islands liquidation not a foreign proceeding?

April 25, 2023

INSOL International’s latest news update discusses a decision by a court in the Southern District of New York finding that a Cayman Islands liquidation under Section 92(e) of the Companies Act is not a foreign proceeding that can be recognized under Chapter 15 of the US Bankruptcy Code.

View the article.

The role of AI in insolvency litigation: An enhancement but not a replacement for human lawyers in the administration of justice

April 13, 2023

Introduction A duty to act in the best interests of our clients goes to the heart of the legal profession, both functionally and ethically.