Insolvency and restructuring

News

London skyline

Exclusive: Kirkland raids four firms for restructuring push

Kirkland & Ellis has taken four lawyers from Milbank Tweed Hadley & McCloy, Freshfields Bruckhaus Deringer, Norton Rose Fulbright and Orrick to bolster its London restructuring capability.

 

Kirkland & Ellis has taken four lawyers from Milbank Tweed Hadley & McCloy, Freshfields Bruckhaus Deringer, Norton Rose Fulbright and Orrick Herrington & Sutcliffe to bolster its London restructuring capability.

 

Analysis

Oil

Insolvency – The spillover effect

Collapsed oil prices and Ebola have hit businesses hard, while European plans to copy UK restructuring tools could challenge British courts’ dominant role. City Link, Phones 4U, London Mining – in recent months we have witnessed the unexpected collapse of some industry giants. However, for the most part, the market was kind to ailing companies […]

Borrowed time

With sovereign debt problems sweeping Europe, is an increase in insolvencies likely? Not necessarily, says Frank Tschentscher May you live in interesting times” is reputed to be the English ­translation of an ancient Chinese curse heaped upon an enemy, and I cannot remember a time of greater uncertainty than the present one. Skyrocketing government debt in Europe and […]

Affairs of the hearth

The outcome of the Stonham v Ramrattan appeal could set a precedent for the treatment of matrimonial homes in insolvency cases. In the unreported decision of ­Stonham v Ramrattan in May 2010, the judge, Justice Mann, allowed an appeal by a trustee in bankruptcy against an earlier refusal to set aside a transfer of a […]

Floating free

A recent court ruling has left the door open for parties to dispense with the registration of a floating charge via the use of a security financial collateral arrangement. But its application is likely to be very narrow. A floating charge on a ­company’s property requires registration under Section 860 of the Companies Act 2006. If […]

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Paying by the rules

With HMRC standing firm when it comes to being paid by insolvent football clubs, it could be back to jumpers for goalposts for an unlucky few.

Cleaning up the act

The Third Party (Rights Against Insurers) Act 1930 is due a facelift. But the means to do so could well be held up by the general election and the willingness of the next government
to tackle the issue.

Con figuration

A downturn in profit often equals a commensurate rise in fraud. Samantha Bewick and Janice Edgar examine the modern role of insolvency professionals in rooting out deception Cheap money and the debt ­bubble concealed many ­problems around the globe. One of these was fraud. Fraud was there during the boom times, but no one had a great […]

Featured Briefings

Landlord wins as CVA term not a penalty

By Kate McCall and Aaron Harlow Following the liquidation of BHS Ltd, the High Court was asked to consider whether a landlord could claim full rent as an administration expense following termination of the Company Voluntary Arrangement…

Luxembourg: Modernisation of the limited partnership regime

The limited partnership legislation in Luxembourg has been modernised by the Luxembourg law dated 10 July 2013 (the Law) in ways that assist the establishment of vehicles suitable for structuring liquid or illiquid funds and unregulated and regulated funds. The Law also transposed Directive 2011/61/EU on Alternative Investment Fund Managers (the AIFMD) into Luxembourg domestic law. […]

Oil rig

Regulations on decommissioning of oil and gas facilities

Presidential Decree 91/18 of 10 April 2018 (“PD 91/18”) enacted the regulations on abandonment and decommissioning of upstream oil and gas facilities located in Angola. Below you will find an overview of PD 91/18…

No jurisdiction for covenant not to sue claim after foreign proceedings

Mr Justice Butcher has upheld a challenge by Vakifbank, a Turkish bank, to the English Court’s jurisdiction to try a claim brought by BTA, a Kazakh bank, and its affiliate. The background was that BTA had given Vakifbank a guarantee, governed by Turkish law, of a debt. By the time Vakifbank called on the guarantee, […]

Advice needed as corporate insolvencies expected to rise

The anticipated rise in UK and European corporate insolvencies over the next two years should be prompting both borrowers and lenders to take early advice where they have concerns about businesses’ solvency outlook, says Ogier offshore restructuring specialist Simon Felton…

Switzerland: Subordination at the interface of finance and insolvency law

By Daniel Hayek and Chantal Joris There are different forms and treatments of subordination agreements in Swiss insolvency. This article is inspired by the authors’ experience representing the security agent of $1.75 billion bond issue of a Swiss-based oil refinery group…

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