Journal of Corporate Renewal 16 June 2022 EUROPEAN Restructuring Outlook: CONSIDERATIONS FOR LENDERS BY TAYYIBAH ARIF, COUNSEL & OLA MAJIYAGBE, ASSOCIATE, DECHERT LLP As Europe prepared to emerge from the COVID-19 pandemic and navigate the resultant uncertain economic environment, Russia invaded Ukraine in February 2022, plunging the continent into disarray once again. The unprecedented pandemic followed on the heels of Brexit, which itself will have lasting impact on the region.
Creditors seeking to enforce an undisputed debt against a solvent foreign non-Hong Kong company in the courts of Hong Kong will welcome the recent judgment of the Court of Final Appeal (CFA) in Shandong Chenming Paper Holdings Limited v Arjowiggins HKK 2 Limited [2022] HKCFA 11, as the CFA helpfully backs a broader and more commercially holistic interpretation of a key tenet relating to how Hong Kong courts approach certain threshold assessments involving winding up petitions brought by creditors in Hong Kong against foreign incorporated companies.
Good evening.
Following are this week’s summaries of the civil decisions of the Court of Appeal for Ontario for the week of May 2nd, 2022.
In Poirier v. Logan, the Court upheld the permanent stay of an action for failure to disclose a partial settlement agreement with some of the defendants.
Good afternoon.
These are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of April 25, 2022.
Good afternoon.
Following are this week’s summaries of the Court of Appeal for Ontario for the week of March 21, 2022.
Areas of law covered in the cases this week included bankruptcy and insolvency (setting aside discharge from bankruptcy and after-acquired property), municipal liability for building inspections, two child protection decisions, guarantees and a partnership dispute.
Wishing everyone an enjoyable weekend.
Table of Contents
Civil Decisions
Good afternoon.
Following are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of March 14, 2022.
Topics covered this week included property of a bankrupt (beneficial interest in trust property), testamentary capacity and extensions of time to perfect appeals.
Wishing everyone an enjoyable weekend.
Table of Contents
Civil Decisions
Good evening.
Following are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of March 7, 2022.
In Ernst & Young Inc. v. Aquino, the court upheld the application judge’s decision to grant the orders the Bondfield monitor and trustee in bankruptcy requiring payments made at undervalue to be repaid. In coming to its decision, the Court applied the corporate attribution doctrine.
The Bankruptcy Court for the District of New Jersey denied motions to dismiss the chapter 11 case of the newly created subsidiary of Johnson & Johnson, LTL Management LLC, and granted the debtor’s motion to stay prosecution of actions asserting talc related personal injuries against its J&J affiliates and the products distributors. This is the first opinion outside the North Carolina bankruptcy court approving the use of the so-called Texas Two Step as a bankruptcy execution strategy.
The Motions to Dismiss
On 12 January 2022, the English High Court granted Smile Telecoms Holdings Limited’s (“Smile” or the “Company”) application to convene a single meeting of plan creditors (the super senior creditors) to vote on the Company’s proposed restructuring plan (the “Restructuring Plan”). It is the first plan to use section 901C(4) of the Companies Act 2006 (“CA 2006”) to exclude other classes of creditors and shareholders from voting on the Restructuring Plan on the basis that they have no genuine economic interest in the Company.
Background
Good afternoon.
Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 27, 2021. There were only two substantive civil decisions released this week.