On April 6, the Small Business Administration (SBA) updated its Paycheck Protection Program (PPP) frequently asked questions to clarify when an applicant or owner is no longer considered to be “presently involved in any bankruptcy” for PPP loan eligibility purposes.
Arbitral awards benefit from being widely enforceable. This is the case particularly in jurisdictions that are members of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 10 June 1958 (New York Convention). Recognition and enforcement of a foreign arbitral award under the New York Convention is rejected only on narrow grounds (Article V). There is, however, an additional ground for an award to become unenforceable in a specific jurisdiction that is often overlooked: limitation periods.
On November 25, the U.S. Court of Appeals vacated summary judgment in favor of defendants in an action alleging the defendants violated the FDCPA by attempting to collect a debt that was discharged in a bankruptcy proceeding and no longer owed.
When stakeholders in a bankruptcy disagree as to how assets should be distributed, the result may be intercreditor litigation that is both expensive and time-consuming. Such litigation can seem antithetical to the purpose of the Bankruptcy Code, which encourages stakeholders to approve a consensual restructuring plan. Nevertheless, many creditors conclude they have no other choice but to litigate.
On 29 September 2020, lawyers from Carey Olsen obtained adecision from the Commercial Court in the British Virgin Islands (BVIs), approving the use of third party funding (TPF) by liquidators in a BVI insolvency case.
As in most countries around the globe, businesses and individuals in Singapore are grappling with the financial fallout from the COVID-19 pandemic.
Although not drafted with the effects of a pandemic in mind, new insolvency and restructuring laws in Singapore are timely and should provide valuable assistance in some circumstances.
On August 12, the U.S. District Court for the District of Colorado reversed in part a bankruptcy court judgment, concluding that the OCC’s valid-when-made rule applied but that discovery was needed to determine whether a nonbank entity was the true lender.
In the last installment of this 3-part series, Oscar van Rossum du Chattel, a Senior Case Intelligence Manager based in Omni Bridgeway’s Geneva office, and Jonathan Siklos, a Senior Case Intelligence Manager bas
In part 2 of this 3-part series, Omni Bridgeway turns to Nathan Landis, an Investment Manager based in our Perth office, Shane Taylor, a Business Development Director based in our Sydney office,