Last year we discussed the impact of funding insolvency litigation following the Supreme Court decision in PACCAR where the court found that litigation funding agreements (LFAs) were damaged based agreements. This meant that unless LFAs complied with the Damages Based
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New York’s Renewed Efforts to Pass Sovereign Debt Legislation (US)
As discussed in our prior blog entitled “New York’s Sovereign Debt Restructuring Proposals,”[1] three bills were introduced in the New York state legislature to overhaul the way sovereign debt restructurings are handled in New York. Those bills sought to…
Texas Bankruptcy Court Declines to Deem Nonvotes as Votes in Favor of Plan (US)
As seen in the recent proliferation of bankruptcy cases seeking a structured dismissal or conversion after a successful sale, debtors constantly seek creative and efficient ways to wind up a case, including through a traditional plan of liquidation. Yet, as…
Update for Insolvency Practitioners on UK Companies House Filings
Following our previous alert, in which we highlighted an issue with entries relating to registered security maintained at Companies House being incorrectly updated to indicate that they had in fact been discharged without the awareness of the relevant company…
Quick Guide to Administration (UK)
For those unfamilar with the various insolvency processes it is not always easy to differentiate between them.
In our latest insight we have produced a quick guide to administration that explains the procedure, benefits and effect of administration on third…
Members Voluntary Liquidations (MVL) – Update
In recent months, there have been a few changes regarding MVLs which we have set out in this insight as a helpful reminder to practitioners.
Our insight considers the changes to filing statements of solvency, comments on the practice of…
Additional Caution Required for Insolvency Practitioners Relying on Companies House Filings (UK)
Over the past week, reports have emerged about filings that have been made at Companies House marking a charge as satisfied, without the company’s or relevant lender’s knowledge.
There were rumours last week, which were simply that, because Companies House…
The Restructuring Outlook in Australia, Asia Pacific and the US in 2024
In our latest insight we look back at the key restructuring cases and events from last year in the United States, Asia-Pacific, and Australia and consider the outlook in 2024 for restructuring transactions as a whole.
This insight provides…
Mallinckrodt Trust Asserts Novel Argument in Response to Safe Harbor Defense (US)
A common defense to a fraudulent transfer claim in bankruptcy concerning a securities transaction is the “safe harbor” defense under section 546(e) of the Bankruptcy Code. In a unique twist, a post-confirmation trust in Delaware recently argued that the safe…
Aggregate’s UK Restructuring Plan Sanction Hearing: Adler in Action
On 7th February 2024, Mr Justice Richards heard closing submissions in the English High Court for a contested sanction hearing for Aggregate Group’s Part 26A restructuring plan. This hearing presented one of the first opportunities to analyse how the Adler…