Global Restructuring Watch, published by Reed Smith LLP, focuses on legal issues related to corporate restructuring, insolvency, and bankruptcy across multiple jurisdictions. The blog covers topics such as mass redundancies following insolvency, airline insolvency protections, bankruptcy proceedings involving environmental agencies, and the impact of economic disruptions like the COVID-19 pandemic on various industries. It also addresses legal compliance in restructuring scenarios, employee consultation obligations, and government policy responses affecting distressed companies. The content is aimed at providing insights into the legal and regulatory challenges faced by companies undergoing financial distress and restructuring processes globally.
Reed Smith’s global Commercial Restructuring & Bankruptcy team have recently published the January issue of their quarterly newsletter. The newsletter provides a detailed review of some of the most important legal developments in the sector. The January issue includes the following:
In…
In October we issued an article on the criminal charges that had been brought against the former directors of City Link Limited (in administration) for their failure to notify the Secretary of State of proposals for collective redundancies under section 193…
Re Omni Trustees Ltd (In Liquidation) [2015] EWHC 2697 (Ch)
In an interesting judgment, the High Court in Manchester has decided not to follow the ruling from earlier this year of Mr Justice Richards in Re MF Global (UK) Ltd…
To qualify as a “debtor” under the U.S. Bankruptcy Code, an entity must reside, have a place of business or property in the U.S. It is common for non-U.S. entities that file for chapter 11 protection to rely on the…
The French fiducie, introduced following years of debate into French law in 2007, is directly inspired by the English trust mechanism. Even though there is no significant case law supporting this, some academics have gone so far as to refer…
The fallout from the OW Bunker bankruptcy in November last year continues with a number of claims being heard in the English courts. Last month the owners of the vessel “Res Cogitans” appealed to the Court of Appeal against the…
The recent criminal charges being brought against the former directors of City Link Limited (in administration) are a timely reminder for insolvency practitioners and directors to be mindful of their employment law obligations when initiating and carrying out collective redundancies.…
In this article, Anker Sorensen, a partner of the Financial Industry Group of the Paris office of Reed Smith LLP, practicing predominantly in the area of corporate and restructuring, shortly describes and comments the main changes which have been introduced…
We published a blog update in May informing readers of the staggered implementation of the Small Business, Enterprise and Employment Act 2015 (the “SBEEA”). The SBEEA received Royal Assent on 26 March 2015 and a previous client alert, published in…
Brooks and another v Armstrong and another [2015] EWHC 2289 (Ch)
In a rare judgment considering wrongful trading in detail, the memorably-named “Robin Hood” case considers at which point the directors ought to have known that there was no reasonable…
