As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.

Het COVID-19 virus heeft ook vergaande gevolgen voor de toegankelijkheid van overheidsrechtspraak en alternatieve vormen van geschilbeslechting in Nederland. In dit artikel vertellen we u welke maatregelen er tot op heden zijn getroffen en wat de consequenties daarvan zijn voor zowel lopende als nieuwe zaken.

Sluiting van gerechtsgebouwen

The Australian Financial Review recently published an article regarding requests to the Australian Government to impose a moratorium on the insolvent trading laws to "help businesses during the economic downturn".

On December 20, 2019, the honorable Marvin Isgur, judge of the Southern District of Texas Bankruptcy Court, issued an opinion holding that Alta Mesa Holdings (“Alta Mesa”), an upstream oil and gas producer with operations based in the STACK formation, could not, under Oklahoma law, reject certain gathering agreements in its bankruptcy case.1 The holding in Alta Mesa follows a similar outcome issued less than three months earlier in In re Badlands Energy, Inc.,2 a case decided by a Colorado bankruptcy court applying Utah law.

A recent decision of Justice Rees of the Supreme Court of New South Wales confirms the importance of keeping proper financial books and records in the context of insolvency.

Commissioned shortly after the Monarch Airlines collapse in October 2017, the UK Government's Airline Insolvency Review has published its Final Report. This article looks at how the Report's recommendations – if implemented - would impact passenger protection if, in the future, airlines become insolvent and what these recommendations mean for airlines.

On July 24, 2019, the Monetary Authority of Singapore (MAS) issued the Consultation Paper on the Proposed Framework for Variable Capital Companies Part 3 (the Consultation Paper), which covers the proposed subsidiary legislation relating to the insolvency and winding up of a v

In late 2017 the UK Government spent £60 million of taxpayers' money repatriating over 110,000 Monarch Airlines passengers stranded overseas.

The Airline Insolvency Review was created to "consider both repatriation and refund protection to identify the market reforms necessary to ensure passengers are protected".

Despite recent decisions in the U.S. Courts of Appeals for the Second Circuit (Momentive) and the Fifth Circuit (Ultra) questioning the enforceability of make-whole provisions in bankruptcy, on March 18, 2019, the Bankruptcy Court for the Southern District of New York determined in 1141 Realty that the make-whole provision contained in a loan agreement was enforceable notwithstanding acceleration of the loan by the secured lender.

Background on Enforceability of Make-Whole Provisions in Bankruptcy

On 1 October 2018, the Singapore Parliament passed the Insolvency, Restructuring and Dissolution Bill (the "Bill"), an omnibus legislation which will consolidate Singapore's personal insolvency, corporate insolvency and restructuring laws, which are currently under separate legislative regimes.

The overhaul follows recent amendments to the corporate insolvency and restructuring provisions of the Singapore Companies Act, and is part of a wider effort to boost the debt restructuring ecosystem in Singapore.

Key provisions introduced by the bill