Key Points:
A forbearance arrangement is a useful instrument to ensure that both the lender and the customer are aligned on the proposed turnaround or workout.
The UNCITRAL Model Law on Cross-Border Insolvency is designed to supplement States' insolvency laws with a framework to address cross-border insolvency proceedings.
Australia, British Virgin Islands, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Clayton Utz, Debtor, Liquidation, UNCITRAL
The UK Supreme Court, which is the UK's highest court, has handed down its long-awaited decision in Belmont Park Investments Pty Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc [2011] UKSC 38, in which the Court considered the validity and enforceability of so-called "flip" clauses under English bankruptcy law.
United Kingdom, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Clayton Utz, Bankruptcy, Surety, Collateral (finance), Security (finance), Swap (finance), Good faith, Default (finance), Credit default swap, Lehman Brothers, Court of Appeal of England & Wales, High Court of Justice (England & Wales), UK Supreme Court