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Tma submissions on Australian creditors’ scheme of arrangement consultation

On 2 August 2021, the Treasury released a consultation paper seeking feedback on changes to improve creditors’ schemes of arrangement in Australia (the Consultation Paper). The submissions process has now closed.

Australia, Capital Markets, Insolvency & Restructuring, Herbert Smith Freehills LLP, Moratorium, Debtor in possession, Debt restructuring, Creditors' rights, Australian Securities and Investments Commission
Treasury consults on Australian creditors’ schemes of arrangement reforms

The Treasury has released a consultation paper on changes to improve creditors’ schemes of arrangement in Australia (the Consultation Paper).[1] The main proposal in the Consultation Paper is the consideration of a broad automatic moratorium, available to companies proposing a creditors’ schem

Australia, Insolvency & Restructuring, Herbert Smith Freehills LLP, Coronavirus, Corporations Act 2001 (Australia)
U.S. Supreme Court adopts rule protecting a trademark licensee’s ability to use a trademark after a bankrupt licensor’s rejection of the license

This past May, in a highly-anticipated decision, the Supreme Court held in Mission Product Holdings, Inc. v. Tempnology, LLC that a debtor’s rejection of an executory contract under Section 365 of the Bankruptcy Code has the same effect as a breach of contract outside of bankruptcy.

USA, Company & Commercial, Insolvency & Restructuring, Litigation, Trademarks, Mintz, Debtor, Supreme Court of the United States