Where lenders rely on floating charge security to make recoveries from companies in administration, some recent cases have massively increased the potential for administration expenses to swallow up those recoveries. The more well-known cases could just be the start. So, what are the potential risks? What can lenders do in the face of the law as it currently stands? What is going to happen next?
The Nortel decisions
United Kingdom, Banking, Insolvency & Restructuring, Litigation, Dentons, Unsecured debt, Landlord, Leasehold estate, Debt, Liability (financial accounting), Occupational safety and health, Liquidation, Debenture, The Pensions Regulator (UK), House of Lords, High Court of Justice (England & Wales)
Introduction
USA, Environment & Climate Change, Insolvency & Restructuring, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Contamination, Pollution, Bankruptcy, Debtor, Injunction, Breach of contract, Liability (financial accounting), Bankruptcy discharge, Supreme Court of the United States, Third Circuit, Sixth Circuit