Introducción
Este mes destacamos especialmente dos resoluciones judiciales recaídas en relación a dos planes de restructuración: (i) una es la sentencia de la audiencia provincial de la Coruña que resuelve sobre la impugnación del plan de XELDIST cuya homologación fue tan discutida por su peculiar formación de clases (4 de 8 de ellas eran unipersonales) (ii) otra la homologación del plan de SINGLE HOME que sale adelante con el voto favorable tan solo de la clase de los especialmente relacionados.
Background
Decision
Key takeaways
The High Court has clarified the grounds for challenging a CVA for guarantee creditors.
The High Court has clarified the grounds for challenging a CVA for guarantee creditors.
Background
Mizen Design/Build Ltd's (Mizen) directors proposed a CVA stating that this would lead to a better result for unsecured creditors than the likely alternative, administration.
The CVA compromised guarantee creditors' ability both to bring a claim against Mizen and to call upon their performance guarantees against Mizen's parent company (the Parent Guarantor).
Introducción
En este mes comienzan a publicarse algunas resoluciones interesantes en aplicación de la Ley 16/2022 en relación a planes de restructuración y nombramientos de experto. En este campo preconcursal tan de moda son especialmente reseñables:
This recent decision has opened up a new opportunity for creditors who are not satisfied with a proposal to put forward their own restructuring plan.
Background
Good Box Co Labs Limited (the Company), a fintech start-up, developed contactless payment technologies in the charity sector.
It entered administration in June 2022 on the application of NGI Systems Limited (NGI) a principal technology supplier, creditor and shareholder of the Company.
Introducción
Este mes las resoluciones reseñadas son menos y de menor relevancia que el mes pasado. Destacamos en todo caso el auto de homologación de uno de los primeros planes de restructuración aprobados tras la entrada en vigor de la nueva ley 16/2022 con una peculiar formación de clases donde muchas de ellas son clases unipersonales.
También destacamos un auto del Juzgado de lo Mercantil número 3 de Gijón que niega el embargo preventivo de los bienes de los administradores de la concursada por no apreciarse que vaya a existir un déficit concursal.
CargoLogicAir Limited (the Company) was the UK's only all-cargo main deck freight airline. Due to sanctions imposed on its Russian owner, the Company was unable to effectively trade and pay its debts as they fell due despite obtaining a 'Basic Needs Licence'. Its sole director applied to appoint administrators.
Issues
The court considered two key issues:
Introducción
Esta edición tiene esta vez bastante contenido interesante entre el que destacamos:
On 7 December 2022, the European Commission published its proposal for a directive harmonising certain aspects of insolvency law (the Insolvency Directive).
The Insolvency Directive seeks to offer more certainty and create a common minimum standard of insolvency regimes across member states, encouraging more effective cross-border investment.
It aims to harmonise three key areas of EU insolvency law (the Insolvency Directive).
Aims law:
the recovery of assets
the efficiency of proceedings
On 7 December 2022, the European Commission published its proposal for a directive harmonising certain aspects of insolvency law (the Insolvency Directive).
Aims
The Insolvency Directive seeks to offer more certainty and create a common minimum standard of insolvency regimes across Member States, encouraging more effective cross-border investment.
It aims to harmonise three key areas of EU insolvency law:
the recovery of assets
the efficiency of proceedings, and