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Court of Appeal Overturns Restructuring Plan Sanction and Looks at Cram Down

On 23 January 2024, Snowden LJ handed down the Court of Appeal's judgment in the Adler Restructuring Plan case - AGPS Bondco plc - overturning the sanctioning of the Plan by the High Court in April 2023.

United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, A&O Shearman, Companies Act 2006 (UK), Corporate Insolvency and Governance Act 2020
New proposals to amend Shareholder Rights Directive

On 9 April 2014, the Commission published proposals to amend the existing Shareholder Rights Directive (2007/36/EC).

European Union, Capital Markets, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Hogan Lovells, Corporate governance, Shareholder
Unauthorized UCC filings: a cautionary tale in the absence of requisite authority to file, a UCC termination statement is ineffective to bring a perfected security interest to an end

A recent decision by the United States Bankruptcy Court for the Southern District of New York1 found that a UCC-3 termination statement filed on behalf of a secured creditor was not effective because it lacked the proper authorization.

USA, New York, Insolvency & Restructuring, Litigation, Milbank LLP, Debtor, Uniform Commercial Code (USA), United States bankruptcy court