The Spanish Congress has approved important amendments into the so-called Spanish scheme of arrangements, to facilitate Spanish company refinancings.

Several blogs ago, I asked whether a party could still argue that the Notified Sum (as defined in the Housing Grants Construction Regeneration Act 1996, as amended by the Local Democracy, Economic Development and Construction Act 2009 - the Act) was not payable even in the absence of a Pay Less Notice.  To continue the theme of Pay Less Notices and their absence, what about the interplay between construction law and insolvency law - in the absence of a Pay Less Notice, and faced with a petition to the court to wind them up, could a party defend itself by saying that the so-called 'debt

With business liquidations and administrations down in Q1 of 2013, what will be the likely effect on claims against insolvency practitioners?

The numbers

The Insolvency Service recently reported that:

Relief for lenders and administrators as UK Supreme Court reverses “super-priority” status of pensions liabilities in insolvency ranking.

In an unusual move the High Court recently wound up a credit union on its own motion. Despite some procedural irregularities with the winding up petition, it was felt that the exceptional facts of this particular case justified the measure.

The case concerned a credit union registered under the Industrial and Provident Societies Act

Second Circuit’s Quebecor bankruptcy decision offers comfort to capital markets participants that certain transactions will qualify for the Section 546(e) safe harbor.

Delaware Bankruptcy Court Holds that Private Equity Firm And Its Portfolio Company Are Not Liable Under Federal WARN Act

The Technology and Construction Court has decided that judgment should not be stayed following a contractor's unsuccessful defence of an adjudication claim brought by its M&E subcontractor.

The case reaffirmed some key principles in assessing whether a stay is justified in adjudication enforcement proceedings:

Your good client Michael Bluth calls you from the Delaware bankruptcy court. Now that his family’s business, The Bluth Company, has filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code and his late nights with DIP lenders and our bankruptcy colleagues have come to a temporary pause, Michael’s ready to turn back to his typical day-to-day job running his business.

Chapter 15 of the Bankruptcy Code is designed to provide an effective mechanism to aid insolvency proceedings in foreign countries that involve a foreign debtor with assets, creditors and other parties in interest located in the foreign country as well as in United States. A foreign representative that is authorized to administer the foreign reorganization or liquidation or act as a representative of the foreign proceeding is the party who applies to the US bankruptcy court for recognition of the foreign proceeding.