Key Points
- COMI of Jersey companies held to be in England and Wales
- Argument of improper motive generally insignificant where purpose of administration can be achieved
The Facts
Key Points
- Costs incurred in preparing to comply with disclosure orders not payable by liquidators
- Protection for wasted costs should have been sought earlier in the proceedings
The Facts
Judge Christopher Sontchi recently issued an important opinion in the Molycorp chapter 11 case.
Key Points
- Provisions of the Civil Procedure Rules apply to applications for an extension of time to apply for rescission of winding up order
- Any such extensions of time should be exceptional and for a very short period
The Facts
Key Points
- A dividend is a ‘transaction’ and therefore can be challenged under s 423 IA 86
- A duty to act in the best interests of creditors does not arise simply because there is a risk of insolvency which is not ‘remote’
The Facts
Key Points
The U.S. Supreme Court will hear the case of Czyzewski v. Jevic Holding Corp. during the new term that began last week. The questions it presents are relatively simple. First, can a bankruptcy court, in dismissing a case under the U.S.
Having launched the original version three years ago, we have refreshed our Safeguarding Your Business guide as an eBook. The guide assists clients in protecting themselves either proactively or reactively in respect of a counterparty’s insolvency with new sections on trusts and examples of how we have helped, using some of the principles raised.
The ability of a secured creditor to credit bid its debt in connection with a sale of a debtor’s assets received a strong boost in a decision last month in the Chapter 11 case of Aeropostale from U.S. Bankruptcy Judge Sean Lane of the Southern District of New York.