Despite three recent landmark UK restructuring plan decisions, uncertainty remains around the value, if any, a plan company should offer dissenting creditors as the “deliverability price” of a plan.

Actions brought against the BHS directors by the group’s liquidators have resulted in the largest reported award for wrongful trading since the provision’s introduction, but the judgment highlights some unsettled areas of the law relating to directors’ duties.

The key distinction between a fixed and a floating charge is well established as a matter of English law.

The U.S. Court of Appeals for the Seventh Circuit recently upheld a trial court’s rejection of a borrower’s allegations that a mortgagee and its servicer violated the federal Fair Credit Reporting Act and the federal Fair Debt Collection Practices Act by allegedly inaccurately reporting her loan as delinquent following the borrower’s successful completion of her bankruptcy plan, allegedly rejecting her subsequent monthly payments, and filing a foreclosure action based on the supposed post-bankruptcy defaults.

The U.S. Court of Appeals for the Eleventh Circuit recently held that the anti-modification provision in the federal Bankruptcy Code applies to loans secured by mixed-use real properties, such as the large parcel at issue here which functioned both for commercial use and as the debtor’s principal residence.

A copy of the opinion in Lee v. U.S. Bank National Association is available at: Link to Opinion.

Third Circuit Finds Future Royalty Obligations From Sale Transaction Dischargeable in Bankruptcy

The Third Circuit ruled that the obligations are prepetition "contingent and unliquidated" claims that can be discharged in a bankruptcy.

Across 2023, the rate of corporate insolvencies in England and Wales fluctuated but trended significantly higher than the previous year, peaking in an especially tumultuous November. Turning from statistics to the news headlines, it was striking but perhaps not surprising to see many household name businesses forced into administration.

The Legal Statement applies areas of insolvency law to digital assets, providing valuable guidance on the approach English courts will take.

The Legal Statement applies areas of insolvency law to digital assets, providing valuable guidance on the approach English courts will take.

ChatGPT was launched less than 18 months ago. This relatively brief period feels like a lifetime, considering the seismic changes to date which are likely only the start.