The post-pandemic anxiety on the European markets was largely due to the anticipated wave of bankruptcies. High interest rates, surging energy prices and out-of-control inflation took their toll on many European businesses. Although the doomsday scenario did not come to
It is usual for administrators to ask for an administration to be extended by 12 months – but we have seen the courts agree to longer periods. For example, certain of the Lehman group company administrations were extended by periods
The date that a winding up petition is presented has consequences – consequences for the company subject to the petition, its directors, the petitioning creditor and it is also important in the context of a subsequent liquidation where the date
Following the decisions in Fore Fitness and Active Wear – where the court examined the validity of decisions made by a sole director of a company that operated wholly or partly under the Model Articles[1]– the position was
Subchapter V bankruptcy cases have exploded in popularity, primarily due to its high rate of obtaining confirmed plans, significantly lower costs, faster pace, and ability for debtors to retain the equity in their businesses. But some bankruptcy courts and circuit
The powers of investigation afforded to office-holders under s. 236 of the Insolvency Act 1986 are there to enable the court to help an office-holder discover the true facts concerning the affairs of a company, its trading and dealings, to
The Supreme Court recently issued its long-awaited decision in Harrington v. Purdue Pharma L.P., 144 S.Ct. 2071 (U.S. 2024) (“Purdue Pharma”), addressing whether nonconsensual third-party releases are permissible under the Bankruptcy Code. In a 5-4 decision, the Court ruled that
Earlier this year ICC Judge Baister handed down judgment in the case of UKCloud Ltd, building on the decision in Avanti[1] by providing further analysis around the distinction between fixed and floating charges – following a dearth of caselaw
The statistics are clear that the number of restructuring proceedings in Poland is on rise.
Among all types of restructuring proceedings available in Poland, the procedure which is of most interest is the approval of an arrangement, primarily because it
In the case of JDK Construction Limited the Court of Appeal had to consider whether an earlier decision by a High Court judge that liquidators had been validly appointed was correct.
The answer to that question turned on whether the
