In the July 2024 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.
Contractor insolvencies are continuing in the construction industry in 2024. This follows recent challenges relating to supply chain issues, labour shortages, and increased material costs. Such challenges are part of the broader macroeconomic climate of high inflation and interest rates.
We outline below steps that a Principal can take at different stages of a project to mitigate the impact of Contractor insolvency on its project, and to protect its interests.
Key takeaways
On June 20, 2024, the United States Bankruptcy Court for the Southern District of Texas (the “Court”) issued a memorandum decision and order in the adversary proceeding involving Robertshaw US Holding Corp.
Alice Eaton and Sean Mitchell Discuss Paul, Weiss’s Restructuring
Practice in Vault Q&A
Alice and Sean describe the breadth of Paul, Weiss’s Restructuring
practice and what sets the practice apart in a Q&A in the 2024 edition
of “Practice Perspectives: Vault’s Guide to Legal Practice Areas.”
Elizabeth McColm and Sean Mitchell Publish “USA” Chapter in
ICLG – Restructuring & Insolvency 2024
In the latest ICLG – Restructuring & Insolvency Laws & Regulations,
Elizabeth and Sean discuss common issues in restructurings and
Alice Eaton Featured at Wharton’s PE and Venture Capital Conference
Restructuring partner Alice Eaton spoke on the panel “Adjusting to a New Era: Redefining Value Creation in Uncertain Times,” as part of the Wharton School of the University of Pennsylvania’s 2024 Private Equity and Venture Capital Conference on March 29. The panel covered the use of innovative financing instruments and structures for investments in distressed assets.
Elizabeth McColm Discusses Women in Restructuring at Winter Bankruptcy Conference
On April 22, 2024, in the chapter 11 cases of GOL Linhas Aéreas Inteligentes S.A.
Our prediction
With New Zealand’s economy in recession, we predict an increase in insolvency-related disputes and litigation over next 12-months.
Why?
A variety of factors combine to give rise to the expected uptick in insolvency-related claims:
Motions to Transfer Venue Filed More Than a Year Postpetition and after Chapter 11 Plan Confirmed Deemed Untimely
New Zealand needs to consider promoting passive overseas investment in developed assets. We are pleased to see that the New Zealand Government has signalled changes to allow for foreign investment in established build-to-rent developments (while still retaining the residential restrictions more generally).
In the March 2024 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.