In the recent decision Sian Participation v Halimeda (Sian), the Judicial Committee of the Privy Council (the Privy Council) held on a BVI appeal that a winding-up petition should not be stayed or dismissed merely because the underlying debt is subject to a generally-worded arbitration agreement.
United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer, Insolvency, Arbitration Act 1996 (UK)
As widely blogged about, on 26 June 2020 the Corporate Insolvency and Governance Act 2020 (the Act) came into force, introducing both far-reaching wholescale reforms to the UK’s restructuring toolbox as well as temporary measures dealing with COVID-19 impacts on companies. The two most significant temporary measures for companies facing financial difficulties as a result of the COVID 19 pandemic were:
European Union, United Kingdom, Insolvency & Restructuring, Freshfields Bruckhaus Deringer, Coronavirus