June 2016 BREXIT A changing legal landscape? 1 INTRODUCTION Yesterday, the UK public voted for the UK to leave the European Union ( EU). This briefing discusses, in outline, the potential timetable for Brexit, the possible shape that Brexit might take and the potential impact Brexit might have on certain areas of law relevant to your business.
On March 11, 2016, the Seventh Circuit ruled that a distressed company’s termination of a lease pursuant to an agreement with its landlord and the relinquishment of its leasehold interest to its landlord constituted “transfers” that may be avoidable as fraudulent transfers and preferences under the Bankruptcy Code. The decision, Official Comm. Of Unsecured Creditors v. T.D. Invs. I, LLP (In re Great Lakes Quick Lube LP, 816 F.3d 482 (7th Cir. 2016)), serves as a cautionary tale for landlords dealing with distressed tenants.
Background
Recent Developments in Bankruptcy Law, April 2016 (Covering cases reported through 545 B.R. 785 and 810 F.3d 860) RICHARD LEVIN Partner +1 (212) 891-1601 [email protected] © Copyright 2016 Jenner & Block LLP. 353 North Clark Street Chicago, IL 60654-3456. Jenner & Block is an Illinois Limited Liability Partnership including professional corporations. Attorney Advertising. Prior results do not guarantee a similar outcome.
The Court of Appeal has allowed an appeal against a limitation order (providing for the restoration to the register of a dissolved company, C, and the suspension of the limitation period during dissolution) and provided guidance on how judicial discretion should be exercised when making such an order.
Shortly before being placed into administration C entered into a sale and leaseback arrangement. C later went into liquidation; however, the purchase price in respect of the sale was not received before the company was dissolved, over four years later.
Tough trading conditions
In re China Medical Technologies, Inc., 539 B.R. 643 (S.D.N.Y. 2015) (No. 12-BR-13736)において、倒産手続 における会社の清算人は、同社の監査委員会に向けて外部弁護士が実施した倒産前の内部調査に関連 する資料にアクセスすることを求めた。破産裁判所は、外部弁護士に対し、秘匿特権で保護されない 資料の提出を命じたが、弁護士と依頼人の間の秘匿特権や職務活動の法理（ワークプロダクトの法 理）で保護される資料については提出を命じなかった。清算人は、提出が命じられなかったこれらの 資料につき、控訴した。当事者は、本件で先例となる秘匿特権についての判例はCFTC v.
Litigation
A referral to the financial list!
In GSO Credit v Barclays Bank plc, the Commercial Court has given guidance on the interpretation of terms in, but not directly defined by, standard Loan Market Association (LMA) documentation which was used in the context of secondary trading of a commitment under a surety bonds facility.
Recent Developments in Bankruptcy Law, January 2016 (Covering cases reported through 541 B.R. 768 and 804 F.3d 977) RICHARD LEVIN Partner +1 (212) 891-1601 [email protected] © Copyright 2016 Jenner & Block LLP. 353 North Clark Street Chicago, IL 60654-3456. Jenner & Block is an Illinois Limited Liability Partnership including professional corporations. Attorney Advertising. Prior results do not guarantee a similar outcome.
In In re China Medical Technologies, Inc.,539 B.R. 643 (S.D.N.Y. 2015) (No.
© Copyright 2015 Jenner & Block LLP. 353 North Clark Street Chicago, IL 60654-3456. Jenner & Block is an Illinois Limited Liability Partnership including professional corporations. Attorney Advertising. Prior results do not guarantee a similar outcome. Recent Developments in Bankruptcy Law, October 2015 (Covering cases reported through 536 B.R.