Tradition Financial Services Ltd v Bilta (UK) Ltd and others [2023] EWCA Civ 112
Key Takeaways:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Tax, White Collar Crime, Dechert LLP, Insolvency, HM Revenue and Customs (UK)
In a decision widely anticipated by investors in emerging market and distressed debt, the Court of Appeal has upheld the decision of the High Court to refuse to grant an indefinite moratorium on claims under certain English law debts under the Cross Border Insolvency Rules (“CBIR”). In doing so, the Court of Appeal has reaffirmed a long-standing principle of English common law that provides important protection to creditors; known as the Rule in Gibbs, the rule provides that a debt may only be discharged according to its own governing law.
European Union, United Kingdom, Insolvency & Restructuring, Litigation, Public, Dechert LLP, Brexit, Liquidation
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets
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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code
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USA, Delaware, Insolvency & Restructuring, Litigation, Shipping & Transport, Fox Rothschild LLP, Bankruptcy, Liquefied natural gas, United States bankruptcy court