Two recent cases out of the Third Circuit and the Southern District of New York highlight some of the developing formulas US courts are using when engaging with foreign debtors. In a case out of the Third Circuit, Vertivv. Wayne Burt, the court expanded on factors to be considered when deciding whether international comity requires the dismissal of US civil claims that impact foreign insolvency proceedings.
Key Takeaways
Restructuring Advisory Partner David Hudson considers the outlook for corporates
There’s no denying that the latest insolvency figures make for uncomfortable reading. In 2023, there were more than 25,000 registered company insolvencies, the highest annual number since 1993 and 14% higher than 2022.
Key Takeaways
Friday January 26, 2024
Financial Advisory Partner, Jim Davies, explores the recent developments in Restructuring Plans
Financial Advisory Partner, Jim Davies, led the relevant alternative valuation analysis for four Restructuring Plans that were sanctioned by the High Court in 2023. Here, he explores recent developments in light of the Adler Restructuring Plan being overturned.
When a majority of a company’s board approves a tender offer in good faith, can it still be avoided as an actually fraudulent transfer? Yes, says the Delaware Bankruptcy Court, holding that the fraudulent intent of a corporation’s CEO who was a board member and exercised control over the board can be imputed to the corporation, even if he was the sole actor with fraudulent intent.
Background
Key Takeaways
Insolvency statistics for August were recently released and the number of companies entering into formal insolvency processes is the highest it has been for several years.
The economic outlook isn’t great, with the IMF predicting growth in the UK will be lowest of all the G7, off the back of pandemics, wars, energy crises, labour shortages, and borderline hyperinflation.
Restructuring Advisory Director, Luke Wilson, reflects on the manufacturing sector's economic activity.
From my experience every battle in business or life always has two sides, the one which is glaringly obvious, the fight itself – the difficulties and the alarming thoughts of, how do I find a way through – then the other side, beneath the surface, there is an abundance of opportunity for change, growth and learning. This is no different for the current state of flux that the manufacturing sector is facing.
Click here to listen to the audio
Restructuring Advisory Director, Luke Wilson sits down with Neil Taylor, founder and managing director of NTI, on the CPD Tap podcast to explore the latest insolvency trends.