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New Bankruptcy Court-Supervised Business Rehabilitation Scheme for SMEs Introduced

Thailand's amended Bankruptcy Act (No. 9) B.E. 2559 (2016) (the "Amendment") was published in the Royal Thai Government Gazette on 24 May 2016 and came into force on 25 May 2016. The Amendment is specifically aimed at small and medium-sized enterprises (SMEs). It introduces a new scheme which allows SMEs to enter into Court-supervised business rehabilitations.

Thailand, Insolvency & Restructuring, Litigation, Mayer Brown, Public company, Debtor, Debt, Limited partnership, United States bankruptcy court
Who should hold the bag for employment liabilities when the portfolio company goes “belly-up”? The private equity firm, maybe.

In the world of private equity, vast sums of money are raised by private investors who pool their money into collective funds in order to acquire companies, i.e., a “portfolio company”, with the goal of eventually flipping the portfolio company at a significant profit. Sometimes, however, that bet goes wrong, and the portfolio company is sold at a loss or, worse, liquidated in bankruptcy.

USA, Corporate Finance/M&A, Employment & Labor, Insolvency & Restructuring, Litigation, Mintz, Private equity, Angel investor, Worker Adjustment and Retraining Notification Act 1988 (USA)