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
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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…
Changes to the UK Water Special Administration Regime – Do Pension Trustees of Water Industry Schemes Need to Care?
Changes are afoot to the statutory regime governing special administrations for regulated water companies (the SAR) following the publication of a suite of new legislation.
Impact of the changes on pension trustees
Further details of the changes are set out…
Sri Lanka’s Restructuring Plan Is Here to Stay (US)
In March 2022, the International Monetary Fund (the “IMF”) assessed Sri Lanka’s public debt to be unsustainable after the country entered the pandemic with thin reserve buffers, high debt levels, and no fiscal space. The IMF’s determination prompted Sri Lanka…
(UK) Timing, disclosure and fairness: lessons from the Adler judgment
On 23 January 2024, the Court of Appeal handed down its much anticipated judgment[1] on the appeal of the Adler restructuring plan pursuant to Part 26A of the Companies Act 2006 (“RP”), which was sanctioned by the High Court…