The Court of Appeal overturns the High Court decision concerning an ATE insurance policy lacking anti-avoidance provisions as adequate security for costs.
United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP, Court of Appeal (England and Wales)
On 1 September 2016, the Korean Court issued orders commencing rehabilitation proceedings for Hanjin and staying proceedings against it and its assets (Korean Orders).
The purpose of the Korean proceeding is to rehabilitate the insolvent debtor company, Hanjin, by restructuring its debts. The debts are restructured according to a rehabilitation plan approved by the creditors and the Korean Court. The aim is to protect Hanjin while it trades out of its debt.