Imagine this: a contractor undertakes to perform certain works by a specified date, and agrees to pay liquidated damages (LDs) if it does not complete by that date (subject to any entitlement to an extension of time). The contractor, through its own fault, is late and does not complete by the specified date. In fact, the contractor is very late and, in the end, the employer terminates the contract before the works are completed (as it is entitled to do under the contract).
On February 8, 2019, the United States District Court for the Southern District of Texas, Houston Division, affirmed a Bankruptcy Court order enjoining a claimant from pursuing claims against a debtor’s non-debtor affiliates based upon third-party release and injunction provisions included in the debtor’s confirmed chapter 11 plan. In re CJ Holding Co., 2019 WL 497728 (S.D. Tex. Feb. 8, 2019).
In the In re FirstEnergy Solutions Corporation bankruptcy cases,[1] the court recently issued an opinion narrowing the number of situations in which a fixed
The appointment of a receivership is an incredibly useful tool for lawyers. Since it is such a useful tool and due to a recent ruling in Texas, we thought now was as good as any to brush up on our familiarity with receiverships.
自己破産というのは、借金を返すことがもう絶対にできないということを裁判所に理解してもらい、法律上で、借金をなくしてもらうことができるやり方です。生活する中で、最低限必要な財産以外のものは、何もかも失うことになります。 日本の国民であるならば、誰もが自己破産ができるのです。
本来、債務は自分で返済すべきですが、どうにも返済の見込みが立たないときには、債務整理を考えてみるべきです。 一般的に債務整理が必要かどうか判断するタイミングというのは、毎月の返済が収入の３割以上に及ぶ場合が妥当な時期のようです。任意整理で弁護士等を訪れるのはこのタイミングが一番多いです。予定していた日に返済が行われないと、貸した側から次の日には支払いに関しての連絡がくるでしょう。
次の支払い予定日を聞かれるのでそこで約束すれば、あとでしつこく電話がかかってくることもありません。
しかし、もしその期日に約束を果たさないと、また催促の連絡がきて、やがて訴訟に発展する可能性もあります。
どうあがいても返済不能な状態に陥ったら、任意整理、個人再生、自己破産といった債務手続きをするという手があります。
どういった形で債務者が借金を整理するかによって債務整理には４つの方法があります。
Whether liquidated damages (LDs) can be claimed after termination is a question which comes up regularly. It is very relevant in the current climate where contracts are often terminated following contractor insolvency. If I were devising a construction law exam paper, this classic question would undoubtedly appear.
On December 27th, Jonathan and I returned to the studio to record the latest podcast for The Bank Account. We haven’t discussed New Year’s Resolutions, but we’ll try to return to a little more normalcy in 2019!
Bankruptcy partner Brian Hermann and counsel Lauren Shumejda co-authored the chapter, “U.S.: New Strategies for Getting Paid: Recent Investment Fund Activity in Chapter 11,” in the 2019 edition of the Global Restructuring Review (GRR) Special Report, “The Restructuring Review of the Americas.”
This article first appeared in Corporate Rescue & Insolvency, December 2018.
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