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Validation orders under s127 of the Insolvency Act 1986

Key Point

Judgment sets out the rationale behind validating three payments made by a Company after the presentation of a winding up petition.

The Facts

This was the third application made by Sahaviriya Steel Industries UK Limited (the “Company”) in connection with payments made that would require validation under s127 Insolvency Act 1986. The payments were necessary to keep part of its business going pending discussions on sale or restructuring.

The Decision

United Kingdom, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency Act 1986 (UK)
Distributions to creditors of UK and non-UK incorporated companies

Key Point

Judgement provides detailed guidance on administrators making distributions in relation to EU incorporated companies.

The Facts

United Kingdom, Insolvency & Restructuring, Litigation, Taylor Wessing, High Court of Justice (England & Wales)
Apcoa restructuring scheme of arrangement sanctioned by the English High Court despite being contested – Court of Appeal hearing set for 9/10 December 2014

Speed Read

United Kingdom, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, High Court of Justice (England & Wales)
Insights from the 2014 European Distressed Investor Conference

On Monday 17 November 2014, Weil held its inaugural European Distressed Investor Conference at The Dorchester in London. A summary of the key discussion points follows.

Panel A:

European Union, Insolvency & Restructuring, Weil Gotshal & Manges LLP