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English High Court grants an anti-suit injunction in favour of arbitration in respect of proceedings under foreign insolvency legislation

In Riverrock Securities Limited v International Bank of St Petersburg (Joint Stock Company) [2020] EWHC 2483 (Comm) the High Court granted Riverrock Securities Limited (“RSL”) an interim anti-suit injunction against bankruptcy proceedings brought against RSL by the receiver of the International Bank of St Petersburg (“IBSP”) (the Bankruptcy Proceedings).

United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
The English High Court finds that arbitration clause “trumps” Insolvency Rules

The case of Philpott & Orton v Lycee Francais Charles De Gaulle Schoolserves as a welcome reminder that the English court will strictly enforce agreements to arbitrate by ordering a mandatory stay of court proceedings, even in contexts where court procedures may traditionally apply.

United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Arbitration clause
Main amendments to the Spanish Insolvency Act introduced by Royal Decree Act 11/2014 and how they affect Spanish in-Court restructurings
  1. Introduction

On 7 September 2014, Royal Decree Act 11/2014 on urgent measures in insolvency matters (“RD 11/2014”) came into force, introducing important changes in the Spanish Insolvency Act (“SIA”), especially regarding incourt proceedings, whether within a composition or a liquidation stage. This piece of legislation followed Royal Decree 4/2014 (“RD 4/2014), which introduced equivalent measures for preinsolvency restructurings.

Spain, Insolvency & Restructuring, Litigation, Gomez-Acebo & Pombo Abogados