The offshore industry is thriving but ESG is adding new priorities both to transactions and to the way firms are being run, according to a new report by Reports Legal featuring Ogier's global managing partner Edward Mackereth.

With record deal activity across service lines this year, Ogier has been busier than ever in the past 12 months.

"Corporate has had a stellar year with all the M&A transactions and SPACs," said Edward.

On May 11, 2021, the United States Bankruptcy Court for the Northern District of Texas (“Court”) issued a decision[1] dismissing the chapter 11 cases of the National Rifle Association of America and its affiliate (“NRA”) for cause pursuant to section 1112(b) of the Bankruptcy Code.

On March 19, 2021, the United States Court of Appeals for the Third Circuit issued a unanimous decision[1] affirming that the mutuality requirement of section 553(a) of the Bankruptcy Code must be strictly construed and, therefore, that triangular setoffs are not permissible in bankruptcy.

Introduction

The Statutory Position:

The provisions governing the recognition of a foreign (including a UK) insolvency office holder under Jersey law are found in Article 49 of the Bankruptcy (Désastre) (Jersey) Law 1990 (the 'Law') and Article 6 of the Bankruptcy (Désastre) (Jersey) Order 2006 (the 'Order').