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Insolvency
Australia
Corrs Chambers Westgarth
ASIC pursued enforcement action against directors that resulted in the first sentence of imprisonment for a 'shadow director'.
Canada
Torkin Manes LLP
Resolving the way a separated couple's property is dealt with can be complicated, but it gets even more complex if one of the spouses declares bankruptcy after separation.
Aird & Berlis LLP
On January 29, 2020, the Alberta Court of Appeal (the "Alberta CA") released its decision in PricewaterhouseCoopers Inc. v Perpetual Energy Inc.1
Borden Ladner Gervais LLP
On January 23, 2020, the Supreme Court of Canada unanimously allowed the appeal from the Québec Court of Appeal's ...
Guernsey
Walkers
The spotlight is now back on the role of directors in pre-pack deals following the English High Court's recent decision on the fiduciary duties directors owe following a company's insolvency.
India
HSA Advocates
The banking sector has been under tremendous stress in the past few years due to the increasing number of non-performing assets (NPA)...
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 ("IBC") deals with reorganisation and insolvency resolution of corporate persons
Fair & Just Legal Solutions LLP
In case any corporate debtor defaults in making payment to its creditor(s), a corporate insolvency resolution process ("CIRP") may be initiated against such corporate debtor.
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 is considered as an important legislation for early detection of financial sickness of any corporate debtor and to deal with such sickness in a time bound manner ...
Israel
Yigal Arnon & Co
Israel recently enacted a new Insolvency Law, which came into effect in September 2019. The statute substantially revises procedures and substantive rights in connection with corporate insolvency
Jersey
Bedell Cristin Cayman Partnership
There are two principal regimes for corporate insolvency in Jersey: désastre and winding-up.
Turkey
ADMD
Cebri bir sulh anlaşması olan konkordato kurumunun uygulama alanı genişletilirken iflas ertelemesi kurumu kaldırılmıştır.
ADMD
While the postponement of bankruptcy is abolished, the application of concordat as a compulsory peaceful agreement is rendered more applicable.
United Arab Emirates
BSA Ahmad Bin Hezeem & Associates LLP
Misconceptions persist among business owners and directors as to the purpose of the UAE Bankruptcy Law and its comparative likeness to international counterparts, notably the US Bankruptcy Code.
United States
Jones Day
A basic tenet of bankruptcy law, premised on the legal separateness of a debtor prior to filing for bankruptcy and the estate created upon a bankruptcy filing, is that prepetition debts are generally treated differently.
Jones Day
Under the "single-satisfaction rule," although a bankruptcy trustee or a chapter 11 debtor-in-possession ("DIP") may seek to avoid and recover avoidable transfers of a debtor's property from more than one transferee
Jones Day
In McKillen v. Wallace (In re Irish Bank Resolution Corp. Ltd.), 2019 WL 4740249 (D. Del. Sept. 27, 2019), the U.S. District Court for the District of Delaware had an opportunity to consider, as an apparent matter of first impression, ...
Shearman & Sterling LLP
On January 14, 2020, the Supreme Court of the United States issued a decision resolving the question of whether a motion for relief from the automatic stay constitutes...
Squire Patton Boggs LLP
Thus Ritzen Group's notice of appeal came too late.
Bedell Cristin Cayman Partnership
The Judicial Committee of the Privy Council ("Privy Council") in London, which is the highest appeal court for many Caribbean jurisdictions
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