The government restrictions on enforcement options for Lenders have been regularly extended due to the ongoing pandemic. Below is a table of what options are available to Lenders as at 22 March 2021 to enforce their security and recover liabilities owing from their borrowers.
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2020年の初めに新型コロナウイルス感染症（COVID-19）パンデミックが広がり始めてから、その拡散を抑えるために全米の州知事が事業の閉鎖を命じる行政命令を出しました。多くの事業主が、事業閉鎖期間の賃料の支払義務から逃れるための救済手段を探ろうとして賃貸借契約書、特にその不可抗力(force majeure)条項を調べました。事業体やその弁護士は、今まで経験したことのない性質のパンデミックと相次ぐ事業閉鎖を目の当たりにしていますが、そのような重要事項の指針となる判例はわずかしかありませんでした。しかし、イリノイ州J.B.プリツカー知事がCOVID-19危機の対応策として、レストランに対して同施設で食事をする客に料理を出す(on-premises consumption)ことを禁じる行政命令を出した結果1、 Hitz Restaurant Group事件において、イリノイ州北部地区連邦破産裁判所は、近時、賃貸借契約書に含まれる不可抗力条項に基づき、テナント（賃借人）‐債務者の賃料支払義務は一部免除されると判示しました。
概要
新型コロナウイルス感染症（COVID-19）パンデミックが、引き続き世界経済に多大な被害を及ぼしています。そのような状況で、破産手続の申請により債務救済措置を講じる米国会社の数が増えていることにお気づきかもしれません。この数カ月のうちに破産手続の申請をした企業には、J.C. Penney、Hertz、Gold’s Gymをはじめとして、最近ではChesapeake EnergyやBriggs & Strattonなど、多種の産業セクターに属する会社が含まれています。米国では、2020年後半に、COVID-19による倒産・破産件数が急増する傾向があり、そのような傾向は2021年に入ってもさらに続くことを予測しているビジネス・アナリストもいます。 |
Executive Summary
Short Read:
Despite the law not yet being in force, the High Court has this week granted an unnamed high street retailer an injunction preventing one of its landlord creditors from presenting a winding-up petition against it on the expectation that the restrictions in the Bill will shortly be enacted.
In the current climate, it is expected that thousands of business will enter administration and Administrators will need to assess each administration on its merits to see if it is appropriate to adopt a light touch approach.
As a result of the unprecedented situation that is being faced by businesses due to the Covid-19 pandemic lockdowns there have been many discussions within the insolvency and legal sectors about how best to rescue struggling businesses.
As a creditor, especially during the current Covid-19 crisis, it may be tempting to accept all and any payments from debtors.
Payments that a debtor company makes to you during the period where there is a winding-up petition in place will be a void disposition, under section 127 of the Insolvency Act 1986, unless there is an application to the Court and receipt of what is known as a “validation order,” allowing you to keep the money.
What’s happening in real life?
The changes?
On Saturday, during the Government’s daily Coronavirus update, it was announced that it would shortly legislate to:
Executive Summary
In any bankruptcy, there are inevitably winners and losers. The winners do not always do virtuous acts to win and the losers are not necessarily evil. Rather, dividing up a limited pie, the bankruptcy courts must leave some creditors short-changed. A good example is the recent 7th Circuit case involving a supplier and a lender. (hhgregg, Inc. et al. (Debtor). Whirlpool Corporation v. Wells Fargo Bank, National Association, and GACP Finance Co., LLC, 7th Circuit Court of Appeals, No. 18-3363, February 11, 2020) |
In a recent decision, [1], the High Court decided that it was not in the public interest to wind up a business rates mitigation scheme under its Insolvency Act powers, as it found that this scheme did not subvert the intention of insolvency law.