The International Committee hosted an in-person happy hour social during INSOL London 2022 on June 27 at the conference hotel, the JW Marriott Grosvenor House London. Thank you to everyone who attended to mix-and-mingle with fellow ABI members; we had a blast!
We are pleased to announce that, with the help of ABI’s Karim Guirguis and his team, the Global Insolvency website (globalinsolvency.com) has had numerous updates that will enhance its visibility, add significantly more valuable content, and draw more viewers to the site.
The ABI International Committee is actively soliciting nominations for the First Annual ABI International Committee Matter of the Year Award. The details are set forth below.
Nomination Deadline: September 15, 2022.
Each submission should address how the matter (the “Matter”) satisfies the following criteria:
Maximizing value for creditors is one of the paramount objectives of the Canadian insolvency system. Where the value is in a business varies in each situation. Depending on the nature of the business, a debtor company may have crucial licenses or contracts that are not transferrable but are necessary in order to operate.
Mexico adopted the UNCITRAL Model Law on Cross-Border Insolvency (MLCBI) in May 2000, when the current Business Reorganizations Law (Ley de Concursos Mercantiles) (LCM) was enacted. It was incorporated in Title XII of the LCM, which contains essentially the same provisions as the MLCBI, with a few additions. It distinguishes between main insolvency proceedings and non-main insolvency proceedings.
Welcome to the ABI International Committee’s Spring 2022 Newsletter. We thank all the members of the committee for their continued support, and we encourage you to get involved with the committee over the coming year. Please reach out to us if you are interested in contributing to a future newsletter, have an idea for a conference panel, or just want to get more involved.
On March 7, 2022, the U.S. Supreme Court in Estate of Omar Fontana v. ACFB Administração Judicial Ltda.-ME, No. 21-828 (U.S. Mar. 7, 2022), denied a petition for review of a decision by the Eleventh Circuit, In re Transbrasil S.A. Linhas Aéreas, 860 Fed. Appx 166 (11th Cir. 2021).
As co-chairs, we thank all of the members of ABI’s International Committee for their continued support and involvement with the committee during this pandemic-dominated year. We also extend a warm welcome to our new members and encourage you to reach out to us or International Committee Membership Chair Kenneth Kraft (Dentons Canada; Toronto) to discuss ways to get more involved with the International Committee.
On Jan. 1, 2021, the Dutch Act on the Confirmation of Private Plans (hereafter referred to by its Dutch acronym, “WHOA,” or the “Dutch Scheme”) entered into force. It represents a robust and flexible restructuring framework. This brief article provides a summary of the Dutch Scheme and an update about the first published cases involving the scheme.
Dutch Scheme Inspired by U.S. Chapter 11 Reorganization Plan
The COVID-19 crisis has encouraged many countries to amend their bankruptcy laws. In many cases, these amendments took place temporarily — especially during the hibernation phase of the pandemic. In other countries, however, the pandemic has led to permanent changes in their insolvency legislations. More importantly, the COVID-19 crisis has encouraged many countries around the world to reassess the desirability of their insolvency and restructuring frameworks.