United Kingdom

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Bankruptcy law in the Republic of Macedonia

Insolvency legislation reform in the country began back in 1997 when the new bankruptcy law was enacted and published in the “Official Gazette” in October 1997. It entered into force on 6 November 1997 and came into effect on 5 June 1998. With the enac ...

Resource Article - abi_admin - 07/27/2015 - 14:56 - 0 comments - 1 attachment

Rights of trade creditors in the US

A trade creditor who supplies goods to a company that files for bankruptcy should seek to enforce certain rights in the Chapter 11 case. For instance, the Bankruptcy Code Section 546(c) preserves a creditor’s right of reclamation under state law. The a ...

Resource Article - abi_admin - 07/27/2015 - 14:49 - 0 comments - 1 attachment

Brown Rudnick Alert: MENA - Trends and Opportunities

Over the last few years there have been a number of very substantial and high profile distressed situations in the Middle East and North Africa. A combination of the financial crisis, the “Arab Spring” and more recently fluctuations in petrodollar have h ...

Resource Article - abi_admin - 07/27/2015 - 13:05 - 0 comments - 0 attachments

LDK Solar: Implementing a global restructuring of a China-based corporate family

As the attention of restructuring experts moves east, the LDK Solar group (“LDK”) has set a precedent as one of the first China-based groups to successfully restructure debt issued in the international capital markets through a court-based process. L ...

Resource Article - abi_admin - 07/27/2015 - 12:59 - 0 comments - 1 attachment

Bond restructuring: A completely new legal regulation in Poland

Completely new solutions on bond restructuring will come into force in Poland on 1 July 2015. The change is crucial – so far, in principle, bond restructuring has been impossible, with the issuers having to resort to partial solutions or being unable ...

Resource Article - abi_admin - 07/27/2015 - 12:54 - 0 comments - 1 attachment

Insolvency Service Turns Screw On Directors

Despite having its budget cut significantly in recent years the Insolvency Service has made orders against 119 rogue directors in the year ending 31 March 2015, compared to 65 the year before, economia reported. The government body has laid off more ...

Daily Headline - global.abi.org - 07/22/2015 - 19:35 - 0 comments

George Osborne Set to Take U.K. Austerity Battle onto Golf Course

U.K. Treasury chief George Osborne Tuesday announced plans to sell billions of pounds of publicly owned buildings and land in the latest stage of his 10-year plan to repair Britain’s public finances, The Wall Street Journal reported. As part of a rev ...

Daily Headline - global.abi.org - 07/21/2015 - 21:27 - 0 comments

Isle Of Wight's Debt Problems Revealed By New Insolvency Figures

Insolvency rates on the Isle of Wight are among the highest in the country according to latest figures, the County Press reported. They paint a bleak picture for the Island which has been ranked joint 18th in a league table of local authority areas w ...

Daily Headline - global.abi.org - 07/21/2015 - 21:28 - 0 comments

Best Menswear Group Goes Into Examinership

An interim examiner has been appointed to Best, the company operating thirteen Best Menswear stores across Ireland and two other fashion stores employing 130 people, the Irish Times reported. The sudden closure of Clerys department store in Dublin la ...

Daily Headline - global.abi.org - 07/21/2015 - 21:28 - 0 comments

UK Budget: Osborne Cuts Welfare Spending

George Osborne, Britain’s chancellor of the exchequer, fresh from a decisive election victory, pledged to recast the country’s economy by cutting welfare spending, lowering the tax bill for workers and tackling low productivity, the Irish Times repor ...

Daily Headline - global.abi.org - 07/08/2015 - 18:05 - 0 comments

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