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New guidance from the High Court on section 6(a) of the ISDA Master Agreement (right to terminate following event of default)

The High Court has recently considered the interpretation of Section 6(a) of the 1992 ISDA Master Agreement: Grant & Ors v WDW 3 Investments Ltd & Anor [2017] EWHC 2807 (Ch).

United Kingdom, Derivatives, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Liquidation, Unsecured creditor, International Swaps and Derivatives Association, High Court of Justice (England & Wales)
Germany introduces legislation to facilitate corporate group insolvencies (Konzerninsolvenzrecht)

Germany's major legal reform aiming to facilitate group insolvencies comes into effect on April 21, 2018 (full German text). The new law allows insolvency proceedings over companies within a corporate group to be concentrated at a single German insolvency court and/or to be administered by one insolvency administrator.

Germany, Insolvency & Restructuring, Litigation, DLA Piper, Debtor
Reform of German clawback law

The German Parliament passed an act to reduce the risk of clawback actions and provide more legal certainty in this regard under German law, the so called "Act for the Improvement of Legal Certainty concerning Clawback pursuant to the German Insolvency Code and the Creditor's Avoidance of Transfers Act" (Gesetz zur Verbesserung der Rechtssicherheit bei Anfechtungen nach der Insolvenzordnung und dem Anfechtungsgesetz) on Thursday, 16 February 2017.

Germany, Insolvency & Restructuring, DLA Piper