This briefing first appeared in the June 2020 edition of South Square Digest.

Executive Summary

In February 2020 the British Virgin Islands Commercial Court (the "BVI Court") sanctioned a creditor scheme of arrangement, which was part of a much larger cross boarder restructuring. This scheme of arrangement, which as a creditor scheme was itself rare for the BVI, was preceded by the BVI's first ever "soft touch" provisional liquidation (in linked proceedings), which commenced in December 2018.

Summary

The briefing provides an overview of the reorganisation plan introduced by the new Greek Bankruptcy Code. Its purpose is to set out the more important mechanics of the reorganisation plan and examine its more important ramifications within the bankruptcy process.

The new Greek Bankruptcy Code