In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

Contents

In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

Contents

In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company's creditors.

Contents

In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company's creditors.

Contents

In brief

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act ("Act") received royal assent on 15 December 2021.

The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities.

In brief

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act ("Act") received royal assent on 15 December 2021.

The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities.

In brief

On 14 May 2021, the Supreme People's Court of the PRC (SPC) and the Government of the Hong Kong Special Administrative Region (HKSAR)  signed a Record of Meeting setting out a framework to facilitate the mutual recognition of and assistance to insolvency proceedings between Mainland China and Hong Kong ("Arrangement"). The Record of Meeting is supplemented by the SPC's Opinion and the HKSAR Government's Practical Guide, which together provide the "Framework". 

In brief

On 14 May 2021, the Supreme People's Court of the PRC (SPC) and the Government of the Hong Kong Special Administrative Region (HKSAR)  signed a Record of Meeting setting out a framework to facilitate the mutual recognition of and assistance to insolvency proceedings between Mainland China and Hong Kong ("Arrangement"). The Record of Meeting is supplemented by the SPC's Opinion and the HKSAR Government's Practical Guide, which together provide the "Framework". 

In brief

The economic shock and disruption caused by the outbreak of the SARS-CoV-2-Virus (COVID-19-pandemic) resulted in unprecedented circumstances for companies and prompted recent emergency rescue measures by the German legislator. In the following, we are highlighting two major legislative measures that will come into force in the next few days.

Legislative changes to mitigate the consequences of the COVID-19-pandemic with respect to specific contract, corporate, insolvency and criminal law matters (the “COVInsAG”)