The Singapore High Court recently issued the first-ever super-priority order for debts arising from rescue financing under Section 211E(1)(b) of the amended insolvency laws in the Companies Act. The decision shows that the court is open to adopting relatively unique deal structures, and could be a benefit for more business-centric solutions.
Singapore, USA, Company & Commercial, Insolvency & Restructuring, Litigation, Morgan, Lewis & Bockius LLP, Title 11 of the US Code, Companies Act, Singapore High Court
After years of delay, on 1 August 2016, the Third Parties (Rights against Insurers) Act 2010 will be brought into force in the United Kingdom, making it easier for a party with a claim against an insolvent business to bring the claim directly against the insurer of that business.
United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Morgan, Lewis & Bockius LLP, Legal personality, Reinsurance, Liability insurance, Business ethics, Law Commission (England and Wales), Insurance Act 2015 (UK)