Insolvency reform: let’s not forget about the scheme of arrangement regime (again!)
In brief
Australia, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Bankruptcy, Moratorium
As settlement in relation to Ukraine’s successful sovereign exchange offers is expected today, we explain why this sovereign deal is groundbreaking.
Background: The Exchange Offers
On 22 September 2015, Ukraine launched Exchange Offers in relation to the following (Old Notes):
Speed Read
United Kingdom, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, High Court of Justice (England & Wales)
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:
Summary
Australia, Capital Markets, Corporate Finance/M&A, Insolvency & Restructuring, Herbert Smith Freehills LLP, Share (finance), Public company
Summary
Summary
Australia, Insolvency & Restructuring, Insurance, Litigation, Herbert Smith Freehills LLP, Class action, Investment management, Lehman Brothers
There have recently been a number of significant developments in relation to schemes of arrangement. These include:
- the Federal Court refusing to make orders convening a meeting of CSR’s shareholders to vote on a demerger proposal by way of scheme, on public policy and commercial morality grounds relating to CSR’s potential asbestos liabilities
- the Government’s corporate law advisory body recommending significant reforms to the scheme regime, and
- developments regarding ‘hostile schemes’.
Each of these developments is discussed below.
Australia, Insolvency & Restructuring, Herbert Smith Freehills LLP, Shareholder, Renewable energy, Interest, Liability (financial accounting), Due diligence, Voting, Federal Court of Australia