Overview
Background
The defining feature of the restructuring plan, which was introduced by the Corporate Insolvency and Governance Act 2020, is the "cross class cram down" ("CCCD") mechanism it introduces as a means of imposing a settlement on recalcitrant creditors.
United Kingdom, Insolvency & Restructuring, Litigation, DAC Beachcroft, Coronavirus, Insolvency, Companies Act 2006 (UK), Corporate Insolvency and Governance Act 2020
On 9 February, the High Court handed down its judgement on Re Link Fund Solutions Ltd [2024] EWHC 250 (Ch) (the "Link Case").
United Kingdom, Capital Markets, Insolvency & Restructuring, Litigation, DAC Beachcroft, Financial Conduct Authority (UK), Companies Act 2006 (UK), Financial Services and Markets Act 2000 (UK)
On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette, repealing the prior federal law on bankruptcy (Federal Law No. 9 of 2016, the Prior Law) and significantly developing the bankruptcy regime in the UAE.