The U.K. Financial Services and Markets Act 2023
The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities being brought within the regulatory perimeter for financial services in the U.K.
Bankruptcy Code section 363(f) allows a debtor to sell an asset free and clear of interests (such as liens and leases) under certain conditions − for example, if the interest is subject to a bona fide dispute, the interest holder consents, or the debt secured by the lien is fully satisfied.
Twenty years after Noble Energy, Inc. acquired assets from the bankruptcy estate of Alma Energy Corp., ConocoPhillips, Co. asserted a US$63 million claim against Noble regarding the acquisition.
Restructurings are all about alternatives. It is one thing for a creditor to hold an instrument that entitles it to payment of $X on Y date. But if the debtor does not have the cash to satisfy the obligation when due, some type of restructuring must occur.