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UK Government consultation on a new insolvency regime for UK-authorised payment institutions and electronic money institutions

On 3 December 2020, the UK Government (HM Treasury) issued a consultation paper (the Consultation) setting out a proposal to implement a new “special administration regime” (the SAR) which it is proposed would apply to any insolvency of an authorised payment institution (a PI) or electronic money institution (an EMI).

United Kingdom, Company & Commercial, Insolvency & Restructuring, Bird & Bird LLP, Financial Conduct Authority (UK)
HM Treasury publishes consultation on a new insolvency regime for UK authorised payment institutions (PI) and electronic money institutions (EMI)

On 3 December 2020, HM Treasury published the Government's proposal to implement a new special administration regime for PIs and EMIs (PI and EMI SAR), a copy of which can be seen here.

United Kingdom, Insolvency & Restructuring, Bird & Bird LLP, Financial Conduct Authority (UK)
No Contradiction in Contribution: Tenth Circuit Finds that Bankruptcy Court Approval of Settlement of CERCLA Environmental Claims Does Not Estop Subsequent CERCLA Contribution Claim

Overview

In Asarco, LLC v. Noranda Mining, Inc., the Tenth Circuit Court of Appeals held that representations made to the bankruptcy court that the Debtor’s settlement of environmental claims reflected only the Debtor’s share of the cleanup costs did not judicially estop the Debtor from brining a contribution claim against another potentially responsible party for those same costs.

USA, Environment & Climate Change, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, US Environmental Protection Agency, Title 11 of the US Code, United States bankruptcy court, Tenth Circuit
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets

Introduction

USA, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Debtor
Furniture retailer, Carl's Patio, files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Retail
Penson Worldwide files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
Preference complaints filed in RG Steel bankruptcy

Introduction

USA, Insolvency & Restructuring, Fox Rothschild LLP, Bankruptcy, United States bankruptcy court
Bankruptcy trustee in ultimate electronics files more preference actions

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code
Overseas Shipholding Group files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Shipping & Transport, Fox Rothschild LLP, Bankruptcy, Liquefied natural gas, United States bankruptcy court
First Place Bank Holding Co. files for bankruptcy in Delaware

Introduction

USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Holding company, Office of the Comptroller of the Currency (USA), United States bankruptcy court