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Canada and the Development of Reverse Vesting Orders

In Canadian proceedings, it had previously been common for assets of the debtor to be conveyed to a purchaser through the granting of a vesting order. Normally, the court supervising the relevant insolvency proceeding in approving the transaction would issue an order that title to the purchased assets would vest in the purchaser “free and clear” of the claims of the vendors’ creditors. Instead, the purchase price proceeds would stand in place of the purchased assets.

Subchapter V in International Applications: How Is the World Prop...

The United Nations Commission on International Trade Law Working Group V has been working on a simplified insolvency regime for six sessions because “[m]icro, small and medium-sized enterprises (MSMEs) (MSEs) constitute the majority of businesses in economies around the world.”[1] Its efforts are aimed at ameliorating the effects of rigid insolvency schemes that stifle the efforts of small business enterprises to reorganize.

ABI International Committee Co-Chair Corner 2019

It has been another great year for the International Committee. As co-chairs, we would like to thank all the members of the ABI International Committee for their support and continued participation on the committee for 2019. The committee’s success reflects the hard work of its members each year.

As always, we also thank the support of the ABI staff and the ABI Board of Directors, both of whom helped to facilitate and guide our work throughout the year.

Pick a Date: The Debate About When to Determine a Debtor’s COMI

The United Nations Commission on International Trade Law promulgated the Model Law on Cross-Border Insolvency (Model Law) as “a uniform approach” to having one proceeding — a foreign main proceeding — be principally responsible for managing a debtor’s insolvency regardless of the number of jurisdictions in which the debtor has assets or creditors.[1] Many jurisdictions have adopted the Model Law, including the U.S.

Jet Airways: The First Indian Company to Undergo Cross-Border Ins...

This article addresses the legal issues arising from the cross-border insolvency proceedings for Jet Airways Ltd., India’s largest private airline, which maintained flight routes around the world but stopped flying on April 17, 2019. Jet Airways is the first Indian airline company to undergo cross-border insolvency proceedings under the provisions of Insolvency and Bankruptcy Code, 2016 (IBC) from India.

The Highs and Lows of Serving Canada’s Newest Emerging Market: Financial Strategies to Manage the Opportunities and Risks of the Cannabis Sector

As Canada moves toward marijuana legalization in 2018, the cannabis industry is quickly emerging as one of the most promising Canadian markets. Early estimates predict that the medical/recreational cannabis industry will reach $10 billion by 2020, offering exciting opportunities for astute entrepreneurs.