From a UK perspective, the majority of UK/EU cross border insolvencies are currently subject to the Recast Insolvency Regulation (Regulation (EU) 2015/848 of 20 May 2015 on insolvency...
Mourant acted for Tailored Brands Worldwide Purchasing Co in
relation to its application for the appointment of joint
We have now seen the new restructuring plan under Part 26A Companies Act 2006 utilised twice to effect debt restructurings, mostly recently in the case of casual dining chain PizzaExpress...
Commercial lenders, landlords and tenants are increasingly needing to reach arrangements and reschedule debt and/or interest payments as the financial implications of lockdowns and weakened economies intensify pressure on businesses.
Long term contracts frequently contain clauses which either terminate the contract automatically or entitle a party to terminate the contract in the event of the other party becoming insolvent; so-called ‘ipso facto' clauses.
In light of the ongoing business uncertainty occasioned by the COVID-19 pandemic it is perhaps more important than ever that the international trade lawyer is aware of the practical impact of cross-border insolvency on their clients' rights.
As discussed in Part 1 of our article on enforcement of Adjudicator's Decisions in the context of insolvency Bresco Electrical Services Ltd (in liquidation) v Michael J Lonsdale (Electrical) Ltd...
Shepherd and Wedderburn LLP
In the recent case of Re CHF 2 Ltd  EWHC 2685 (Ch), officeholders of insolvent 'unitised property ownership schemes' asked the High Court of England and Wales...
In a move to increase confidence in the insolvency regime, the UK Government has proposed new measures to improve transparency
Charles Russell Speechlys LLP
Following its decision in July to consider restructuring options in light of its mounting debts, the popular restaurant chain Pizza Hut has reached an agreement with its creditors by way of a company voluntary arrangement ...
On 25 June 2020, the new Corporate Insolvency and Governance Act (the "Act") received Royal Assent.
Veale Wasbrough Vizards
It is so obvious to say, but suppliers want to be paid for the goods or services they supply, and we are living in highly uncertain times with suppliers increasingly concerned about the ability of customers (or clients) to pay.
This article considers whether, following the case of Wallace (as liquidator of Carna Meats (UK) Ltd) v Wallace, the power to summon persons...
Private equity firms have largely been closed off from government support in the UK context, and are in many cases heavily exposed to sectors like retail and hospitality that have been severely impacted by the pandemic.
In two recent decisions, The Financial Conduct Authority v Arch Insurance (UK) Ltd and others  EWHC 2448 (Comm) (‘the FCA Test Case') and TKC London Limited v Allianz Insurance Plc ...
The current COVID-19 pandemic has placed many companies registered in England and Wales into a position where they are now either balance sheet or cash flow insolvency or both.
In the recent High Court decision in Rawbank S.A. -v- Travelex Banknotes Ltd  EWHC 1619 (Ch) the advantages of making a Part 36
Duncan Lole and Olivia Robinson discuss their recent case in the High Court (Strategic Advantage SPC v High Street Rooftop Holdings Limited
Does a negative valuation from an Adjudicator equate to an order for payment?
The Corporate Insolvency and Governance Act (‘CIGA') which came into force on 26 June 2020 represents one of the biggest changes to the insolvency law of England and Wales in two decades.