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Proposed insolvency (and other) relief for businesses impacted by COVID-19

Finance Minister Grant Robertson yesterday afternoon announced a number of proposed temporary changes to the Companies Act, with the stated purpose to help businesses facing insolvency due to COVID-19 remain viable.

The temporary changes include:

New Zealand, Company & Commercial, Insolvency & Restructuring, Buddle Findlay, Coronavirus
SDNY Bankruptcy Court Rejects Non-Consensual Third-Party Releases

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US District Court for the Southern District of New York
Suppliers Beware: Two Recent Cases (in Third Circuit and Delaware) Hold that Debtor Must Physically Possess Goods Within Statutory Period To Sustain Administrative Priority Under Section 503(b)(9)

The Bottom Line

USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Third Circuit