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.
Legislation has come into effect to create a new class of debt in insolvency, being “secondary preferential debts”.
Secondary preferential debts are, in brief, those parts of a deposit which do not fall within the protection of the Financial Services…
In this article, the author Anker Sorensen, a senior partner of the Financial Industry Group of Reed Smith Paris, practising predominantly in the area of Corporate and Restructuring, sets out various recent labor related reforms applicable in France in…
Singularis Holdings Limited v PricewaterhouseCoopers [2014] UKPC 36
PricewaterhouseCoopers v Saad Investments Company Limited [2014] UKPC 35
The Privy Council gives credence to the concept of “modified universalism” (being the court’s common law power to assist foreign winding up proceedings)…
This post was also written by Artur Korn.
German insolvency law, unlike US insolvency law, only recently introduced (in 2012) the so-called protective shield proceedings (Schutzschirmverfahren) to enable potentially illiquid and/or over-indebted debtors to restructure the company on the basis…
This post was also written by Artur Korn.
If you are a creditor of an insolvent German company, you may have come across the following difficult phenomenon: your contractual counterparty is unable to pay outstanding debts when they become due.…
Reed Smith’s global Commercial Restructuring & Bankruptcy team have recently published the October Edition of their quarterly newsletter. The newsletter provides a detailed review of some of the most important legal developments in the sector. The October edition covers…
Introduction
The consultation on the new powers introduced by the Enterprise and Regulatory Reform Act 2013 to help ensure the continuity of certain essential IT supplies to insolvent business closed today, 8 October.
Section 233 of the Insolvency Act 1986…
As readers may be aware, general changes to the ability to recover litigation funding under certain mechanisms came into general effect in 2013 pursuant to the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (‘LAPSO’). However, the insolvency profession…
“Ipso facto”: The concept that clauses allowing for the termination of contracts purely for the insolvency of the contractual counterpart should be invalid, has long been an established principle of the Chapter 11 regime in the US. However,…
If you’re reading this, you understand the necessity of keeping up-to-date on global restructuring trends and developments. Reed Smith’s global restructuring group is known worldwide as one of the premier practices focusing on complex financial restructurings, workouts, bankruptcies, insolvencies and…
