On 15 January 2018, the UK’s second largest contractor filed for compulsory liquidation.

Shortly after, the Insolvency Service reported that there had been 2,668 insolvencies in the construction sector in the twelve months ended Q1 2018—more than any other sector.

In an important new English Court of Appeal judgment in LBI EHF v Raiffeisen Bank International AG [2018] EWCA Civ 719 (11 April 2018), Lord Justice Flaux approved and expanded the earlier High Court judgment of Mr Justice Knowles CBE in LBI EHF (in winding up) v Raiffeisen Zentralbank Osterreich [2017] EWHC 522 (Comm) (20 March 2017) on the correct meaning and treatment of t

The government action bar provides that a relator may not bring a False Claims Act (FCA) lawsuit “based upon allegations or transactions which are the subject of a civil suit or anadministrative civil money penalty proceeding in which the Government is already a party.” 31 U.S.C. § 3730(e)(3) (emphasis added). Recently, in Schagrin v. LDR Industries, LLC, No. 14 C 9125, 2018 WL 2332252 (N.D. Ill.

On May 25, 2018, the U.S. Court of Appeals for the Second Circuit affirmed a district court decision finding that producer Sabine Oil and Gas Corp. could reject certain midstream gathering contracts in its bankruptcy case.i

The Bankruptcy Court for the Southern District of New York (the Bankruptcy Court) issued an opinion on April 9, 2018 recognizing and enforcing a scheme of arrangement that contained non-consensual releases of non-debtor subsidiary guarantors under chapter 15 of the Bankruptcy Code. The Bankruptcy Court held that, in certain situations, such non-debtor releases may be approved and enforced in chapter 15 proceedings based upon principles of comity, even where similar arrangements would be impermissible in a chapter 11 proceeding. 

5 What will happen if a Type A event occurs? If a Type A event occurs without appropriate steps being taken there can be a number of consequences. (i) Impact on relationship with pension scheme trustees Pension schemes have long term liabilities. Sponsoring employers therefore generally expect to have a long term relationship with the trustees of their scheme. That relationship could be damaged if a Type A event occurs and the trustees are not kept informed or if they consider that their concerns about such events have not been addressed.

On September 1, 2017, the Board of Governors of the Federal Reserve System (the Federal Reserve) adopted a rule (the Rule)1 that will require global systemically important U.S. bank holding companies (U.S. GSIBs)2 and most of their subsidiaries to amend a range of derivatives, short-term funding transactions, securities lending transactions and other qualifying financial contracts (QFCs). The required amendments will limit counterparty termination rights related to certain U.S. GSIB resolution and bankruptcy proceedings.

On September 21, 2017, the United States Bankruptcy Court for the Southern District of Texas (the Court) held, over the objection of Ultra Petroleum Corp.

On May 9 2017 the Amsterdam Court of Appeals ruled that the Russian liquidation order of August 1 2006 regarding OAO Yukos Oil Company is contrary to Dutch public order and therefore null and void.(1) An interesting question is whether the judgment will have a bearing in the appeal of the annulment proceedings concerning the $50 billion Energy Charter Treaty (ECT) arbitration case between former Yukos shareholders and Russia, which is pending before The Hague Court of Appeal.

Introduction The number of financial institutions that have announced the relocation of their EU headquarters from the UK to Germany has increased during the last weeks. In the meantime, some of the largest US and Asian institutions have confirmed their plans to expand their operations in Germany, and we expect others to follow soon. How can we assist? This briefing shall provide you with an overview of a number of issues that may be of interest for your decision to expand your operations in Germany.