On April 19, 2023, the US Supreme Court unanimously held that Section 363(m) of the Bankruptcy Code is not “jurisdictional,” and therefore does not limit a court’s authority to hear an appeal of a bankruptcy sale order (even if it
Latest from Zone of Insolvency
When is a Cayman Islands liquidation not a foreign proceeding?
INSOL International’s latest news update discusses a decision by a court in the Southern District of New York finding that a Cayman Islands liquidation under Section 92(e) of the Companies Act is not a foreign proceeding that can be
The role of AI in insolvency litigation: an enhancement but not a replacement for human lawyers in the administration of justice
Introduction
A duty to act in the best interests of our clients goes to the heart of the legal profession, both functionally and ethically. Can our ability to fulfil this duty be enhanced by the use artificial intelligence (AI)?
There
Norton Rose Fulbright’s global restructuring group releases the Q2 2023 issue of International Restructuring Newswire
Our global restructuring team has released its quarterly International Restructuring Newswire.
Our new issue features articles from Hong Kong, Australia, the US, the UK and Canada to help you stay current on recent developments in restructurings in various jurisdictions around
What debts are provable on a debtor’s insolvency? Part Two
In the second of this two-part post, we continue our overview of claiming in a debtor’s insolvency. In particular we look at contingent debts, interest on debts, and debts in foreign currencies.
- How are contingent debts valued?
For obvious reasons,
What debts are provable on a debtor’s insolvency? Part One
Under English insolvency law, creditors “prove” for their debts against an insolvent debtor’s assets. They do this by submitting a ‘proof of debt’ form. Generally, submitting a proof of debt is necessary to allow the creditor to both receive a
US bankruptcy Court dismisses Ch. 15 case, bars foreign representative from appearing before court
INSOL International’s latest news update discusses the dismissal of a chapter 15 case and the foreign representative now barred from appearing before the United States Bankruptcy Court for the Northern District of Illinois.
View the article here INSOL News
No amendment to the ranking of security rights under the Dutch Scheme (WHOA) procedure
The Rotterdam District Court, the Netherlands, has ruled that an amendment to the ranking of security rights is not possible under the Dutch Scheme procedure (WHOA), without the consent of the relevant secured creditors. While there is still ambiguity about
Small business restructuring in Australia – Two years on, is the new process working as intended?
From 1 January 2021, Australia’s insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive – specifically, by providing these businesses with simpler, more flexible restructuring
Looking forward to the revival of the pre-pack In the Netherlands
The pre-pack was widely used as a restructuring tool in the Netherlands in the aftermath of the global financial crisis. The process was developed by the Dutch restructuring market and facilitated by the majority of Dutch courts.
However, as a