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First past the post and foreign insolvency proceedings: the race for recognition in protecting assets from judgment creditors

Summary

European Union, United Kingdom, Insolvency & Restructuring, Litigation, Mayer Brown, Cross-Border Insolvency Regulations 2006 (UK)
What to expect in the European restructuring market in 2023

Mark Fine, Aymen Mahmoud and Sunay Radia, McDermott Will & Emery

This is an extract from the 2023 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

European Union, Insolvency & Restructuring, Litigation, Global Restructuring Review, Supply chain, Liquidation, EBITDA, Force majeure, Prudential Regulation Authority (UK)
New Swiss insolvency rules and lenders’ rights pre-insolvency

Luc Defferrard and Tervel Stoyanov, Walder Wyss Ltd

This is an extract from the 2023 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

Switzerland, Insolvency & Restructuring, Global Restructuring Review, Liquidation, Insolvency
Greek insolvency law: significant reform

Alexandros Kontogeorgiou and Georgia Papathanasiou, Kontogeorgiou Bakopanou & Associates Law Firm

This is an extract from the 2023 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

Greece, Insolvency & Restructuring, Litigation, Global Restructuring Review, Transfer pricing, Articles of association, Insolvency, European Commission, Bank of Greece, Directive on Preventive Restructuring Frameworks (2019/1023/EU)
England and Wales: overview of restructuring mechanisms and recent developments

Matthew Czyzyk, Natalie Blanc, Natalie Raine and Emily Ma, Ropes & Gray

This is an extract from the 2023 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

United Kingdom, England & Wales, Compliance Management, Insolvency & Restructuring, Litigation, Tax, Global Restructuring Review, Corporate governance, Liquidation, Moratorium, Debtor in possession, Company voluntary arrangement, Insolvency, European Commission, HM Revenue and Customs (UK), Companies Act 2006 (UK), Insolvency Act 1986 (UK), Corporate Insolvency and Governance Act 2020, Insolvency Regulation (1346/2000) (EU)
Restructuring mechanisms in France and recent developments

Céline Domenget Morin and Loris Julia, Goodwin Procter LLP

This is an extract from the 2023 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

France, Insolvency & Restructuring, Litigation, Global Restructuring Review, State aid, Directive on Preventive Restructuring Frameworks (2019/1023/EU)
Unsecured "credit bid" for assets of a company in special administration

Summary

United Kingdom, Banking, Company & Commercial, Insolvency & Restructuring, Litigation, Mayer Brown, Sanctions, Financial Conduct Authority (UK), High Court of Justice (England & Wales)
Silicon Valley Bank UK Limited - successful rescue showcases the UK Special Resolution Regime in action

Summary

United Kingdom, Banking, Insolvency & Restructuring, Mayer Brown, Financial Conduct Authority (UK), HM Treasury (UK), Bank of England, Prudential Regulation Authority (UK), Banking Act 2009 (UK)
Ultra Petroleum Seeks US Supreme Court Review of Fifth Circuit’s Make-Whole and Contractual Default Rate Ruling

On February 13, 2023, Ultra Petroleum Corporation (“Ultra”) filed a petition for a writ of certiorari with the US Supreme Court seeking review of the Fifth Circuit’s October 2022 ruling that, in solvent-debtor cases, debtors must pay unsecured creditors applicable contractual make-whole premiums and postpetition interest at contractual default rates in order for such unsecured creditors to be considered unimpaired.

USA, Company & Commercial, Insolvency & Restructuring, Litigation, Mayer Brown, Chapter 11, US Bankruptcy Code, Supreme Court of the United States
Company Voluntary Arrangement (CVA) successfully challenged on grounds of material irregularity and unfair prejudice

Summary

United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Mayer Brown, Company voluntary arrangement, Insolvency Act 1986 (UK), High Court of Justice (England & Wales)