Like many other strategically important sectors, there has long been a bespoke insolvency regime for the water sector. New legislation has been brought into effect in early 2024 as a first step to bringing the special administration regime for water (the SAR) up to date with the general UK insolvency regime.

Like many other strategically important sectors, there has long been a bespoke insolvency regime for the water sector. New legislation has been brought into effect in January 2024 as a first step to bringing the special administration regime for water (the SAR) up to date with the general UK insolvency regime.

The High Court has, for the first time, sanctioned a restructuring plan exercising the power to cross-class cram down. The court handed down its sanction order but noted that, as the first decision to use cross-class cram down, a reasoned judgment will follow in due course.

On 13 January 2021, the court sanctioned three interconditional restructuring plans ('the restructuring plans') for three subsidiaries of DeepOcean Group Holding BV (together with all of its subsidiaries, 'the DeepOcean Group'):

The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future. The not-so-good news is that municipal bankruptcy filings are on the rise, and they are likely to increase. The issues facing parties under contract with a municipality when it files for bankruptcy protection are playing out nationally in places like Stockton, California, and Detroit, Michigan.