The Insolvency Service has published a call for evidence on collective redundancy consultation for employers facing insolvency. It is seeking evidence on issues including the role of directors and insolvency practitioners and the factors which inhibit effective consultation. The closing date for submissions is 12 June 2015.

This Alert is one of a series published by Schulte Roth & Zabel that analyzes the report released on Dec. 8, 2014 (“Report”) by the American Bankruptcy Institute Commission to Study the Reform of Chapter 11 (“Commission”), which recommended numerous changes to Chapter 11 of the Bankruptcy Code (“Bankruptcy Code”).

Below are the 6 key points that you need to consider when health and safety issues arise following an appointment to an insolvent company.

1. What is the main legislation covering this area?

There are two distinct areas dealt with by detailed but separate legislation.

The hotels sector has suffered in the recession and as an asset class, hotels are capital intensive operations. They are also susceptible to volatile economic conditions, as consumer and corporate expenditure on hotels is generally viewed as a discretionary expense.

HMA structure

There are various ways in which the corporate ownership of a hotel can be structured. This note will concentrate on one of the most common structures in the hotel industry – the hotel management agreement (“HMA”).

In an August 2014 Alert,¹ we reported that (most of) the Banking Recovery and Resolution Directive (‘BRRD’)2 that was adopted on 15 May 2014 was required to be implemented by the EU Member States through local legislation by 1 January 2015.

On Dec. 8, 2014 the American Bankruptcy Institute Commission to Study the Reform of Chapter 11 (the “Commission”) issued its 2012-2014 Final Report and Recommendations (the “Report”), proposing numerous changes to Chapter 11 of the Bankruptcy Code (“Code”).

The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 (the “Commission”) issued its 400-page Final Report and Recommendations (the “Report”) on Dec. 8, 2014. The Report recommends a variety of changes to Chapter 11 of the Bankruptcy Code.

Following the Dec. 8 publication by the American Bankruptcy Institute (“ABI”) Commission to Study the Reform of Chapter 11 of a report (the “Report”) recommending changes to Chapter 11 of the Bankruptcy Code (“Code”),[1] we continue to analyze the proposals contained in the ABI’s 400-page Report. One proposal we wanted to immediately highlight would, if adopted, significantly increase the risk profile for secured lenders.

Alert The Impending First Revision to the EU Insolvency Regulation: An Update 16 December 2014 The latest draft of the First Revision published on 20 Nov. 2014 indicates measured but extensive amendments to the EU Insolvency Regulation (‘EIR’). The most significant is the EU policy shift evidenced by the proposal to extend the EIR’s application from its currently narrow and primarily liquidation-based proceedings to a broader range of measures that are focused on rescue and that have recently been implemented in various jurisdictions.

The American Bankruptcy Institute (“ABI”) Commission to Study the Reform of Chapter 11 issued today a 400-page report (the “Report”) recommending changes to Chapter 11 of the Bankruptcy Code (“Code”). The Report is the result of a two-year effort by 150 practitioner-ABI members.[1] Without considering the likelihood of Congressional passage in the near term, we will evaluate each significant proposed change separately in subsequent Alerts over the next several weeks.