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.

You've been appointed as chapter 7 trustee in a case involving a well-known, high-flying debtor whose schedules reflect substantial unsecured liabilities, nominal non-exempt assets, and potential avoidance claims.

In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”.

In connection with the Zachry Holdings Chapter 11 case filed in the Southern District of Texas on May 21, 2024, the Bankruptcy Court made disturbing comments regarding treatment of critical vendors.

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.

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.

In its recent opinion in Raymond James & Associates Inc. v. Jalbert (In re German Pellets Louisiana LLC), 23-30040, 2024 WL 339101 (5th Cir. Jan. 30, 2024), the Fifth Circuit held that a confirmed bankruptcy plan enjoined a party from asserting certain indemnification counterclaims against a plan trustee because the party did not file a proof of claim.

Background

Ever since unpaid taxes due to HMRC were “crammed down” pursuant to a restructuring plan that it voted against but did not actively oppose in Houst,¹ HMRC has challenged restructuring plans and asserted its interests more aggressively, causing the failure of restructuring plans inNasmyth