The Small Business, Enterprise and Employment Act (the Act) recently received Royal Assent. The Act introduces a number of new provisions across a wide range of issues, including regulatory reform, public sector procurement and companies. In relation to the insolvency
Global Restructuring Watch
Providing updates and commentary on global restructuring and bankruptcy law
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.
Latest from Global Restructuring Watch - Page 8
Delaware Joins the 7th and 9th Circuits in Protecting Trademark License Owners from Non-consensual Bankruptcy Assumptions and Assignments
The bankruptcy court in Delaware recently joined a number of bankruptcy courts in other jurisdictions protecting trademark owners’ rights to prohibit a debtor from either assuming or assigning a trademark without the trademark owner’s consent.
In In re Trump Entertainment…
To Fund or Not to Fund – that is the Question
By Amy M. Tonti
On Friday the 13th (3/13/2015), the Court of Appeals for the 7th Circuit decided that a title insurer did not have to provide coverage to its insured – the perfected, first lien lender – for priming mechanics’ liens that –…
Recent Insolvency Developments
- The Ministry of Justice announced last Thursday that the insolvency exemption to the Jackson Reforms has been indefinitely extended. This means that office-holders are able to continue to operate on conditional fee arrangements, recovering success fees from the losing party
…
Trump Taj Mahal Fined Record $10 Million for Inadequate AML Program
As disclosed recently in a bankruptcy court filing, on January 27, 2015, the Financial Crimes Enforcement Network (“FinCEN”) imposed a $10 million civil money penalty pursuant to the Bank Secrecy Act (the “BSA”) on Trump Taj Mahal Associates LLC. Trump…
Continuity of supply of essential services to be guaranteed during business recovery (UK update)
Following a consultation on the issues last year, an Order was laid before the UK Parliament on Monday (9 February 2015) to prevent suppliers of water, gas, electricity, communications services and IT from cutting off supply or charging premium rates…
Oil Price Decline: Positioning for Turnaround or Sale
As a reaction to the dramatic oil price volatility, many energy companies plan to streamline operations by reducing work force and shedding assets. Those who do so face tightening credit and decline in asset value that may impact the solvency…
February Newsletter
By Peter Clark
Reed Smith’s global Commercial Restructuring & Bankruptcy team have recently published the February Edition of their quarterly newsletter. The newsletter provides a detailed review of some of the most important legal developments in the sector. The February issue includes the…
The Fall in Crude Oil Prices: Headline Issues to Watch
Oil price movement through 2014 and into 2015 is a consequence of market fundamentals. Europe’s continued economic woes, paired with the slowdown in China’s economy, have led to a fall in demand for oil.
At the same time, the growing…
A Cautionary Tale: Companies House owes a duty of care when registering winding up orders
In Sebry v Companies House and The Registrar of Companies, it was recently held that Companies House owes a duty of care when entering a winding up order (“Order”) on the Register of Companies. This duty is owed ‘to any…