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Restructuring Globalview
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Restructuring Globalview
Routes to Reorganisation: A Comparative Study of the Insolvency Procedures Available in the UAE, KSA, US and England and Wales
By Monika Lorenzo-Perez, Rebecca Terrace, Nima Fath, Peter Morrison
Our recent insight provides a comparative summary of the insolvency procedures that are available in the United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA), England and Wales, and…
Restructuring Globalview
Tips For Subchapter V Creditors (US)
By Kelly Singer
The overwhelming majority of my practice has involved larger, complex Chapter 11 cases and out-of-court restructurings, representing debtors, Chapter 11 trustees, committees, or creditors. However, with the expansion during Covid…
Restructuring Globalview
(UK) Moratoriums – a New Stay on Winding Up Petitions?
In a recent decision that will add some welcomed clarity to the imposition of Part A1 moratoriums over companies which have been presented with a winding-up petition, the High Court…
Restructuring Globalview
(UK) ‘Substitution First, Standing Later’ – The Risk of Supporting Creditors
By Jess Bradley, Rachael Markham
The case of Liberty Commodities Ltd v Citibank NA London & Ors [2023] EWHC 2020 (Ch) provides a helpful reminder of the principles that the court will adopt when dealing with a winding…
Restructuring Globalview
(UK) Streamlining Out of Hours Qualifying Floating Charge Holder Appointments
Making an out of hours qualifying floating charge holder (“QFCH”) appointment can be problematic due to the procedural requirements set out in Rule 3.20 of the Insolvency (England and Wales)…
Restructuring Globalview
(UK) HMRC and Restructuring Plans: The Next Chapter
By Helena Clarke, Rachael Markham
A thorny question facing a company when considering a Restructuring Plan is how to deal with HMRC particularly following HMRC's opposition to recent plans. Creditors now have some assistance in…
Restructuring Globalview
Are UK Administrators Criminally Liable For Failing to File a HR1?
The answer to that question and with a huge sigh of relief is thankfully not, following the Supreme Court finding that an administrator of a company appointed under the Insolvency…
Restructuring Globalview
Decision of the German Court Causes Waves For Investors but is Welcomed by Creditors of Insolvent Companies
In September 2023, the insolvency administrator of the insolvent Wirecard AG began reclaiming dividend distributions for 2017 and 2018 from shareholders. This is following a judgment of the Federal Court…
Restructuring Globalview
The Enforcement of Non-Consensual Restructuring Plans in Spain on the Shareholders of Limited Liability Companies
The implementation, just over a year ago, of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on Preventive Restructuring Frameworks, has meant a…
Restructuring Globalview
A Stellar Result for the Sellers of Comet Group Plc – UK Court of Appeal Unanimously Overturns £115m Preference Judgment
By Rebecca Terrace, Devinder Singh
The Court of Appeal has unanimously overturned an unlawful preference ruling from the High Court, finding instead that the repayment of inter-company debt did not amount to a preference because,…