In the recent case of Re Avanti Communications Limited (in administration) (Re Avanti), the court considered the nature of fixed and floating charges. Whether a charge is fixed or floating has implications for both lenders and administrators in terms of determining to what extent a chargor can recover from the charged assets and to what extent a borrower can deal with its assets.
Background of case:
In MOAC Mall Holdings v. Transform Holdco, the Supreme Court of the United States addressed whether Section 363(m) of the Bankruptcy Code―which limits the effect of certain appeals on orders authorizing the sale or lease of bankruptcy estate property―is a jurisdictional provision.
The preliminary draft of the law on structural changes of commercial companies approved by the Spanish Government on 14 February (the "Preliminary Draft") aims to transpose Directive (EU) 2019/2121 of the European Parliament and of the Council of 27 November 2019 amending Directive (EU) 2017/1132 regarding cross-border transformations, mergers and demergers of companies
There are many practical steps, pitfalls and strategies available for recovering commercial rent arrears, both before and after tenant insolvency
In Bartenwerfer v. Buckley, the Supreme Court of the United States resolved confusion in the lower courts over the scope and application of 11 U.S.C. § 523(a)(2)(A), which prohibits debtors from discharging debt through bankruptcy when such debt was obtained as a result of fraudulent actions.
Spotting the warning signs of distress in your construction supply chain and taking early action can significantly reduce the impact on your projects
While insolvency events may appear to arise suddenly, there are often warning signs or "red flags" of distress well in advance. While these do not necessarily demonstrate actual insolvency, they can indicate liquidity and solvency risks to the supply chain.
Early contingency planning can significantly reduce the shock of service provider/supplier insolvency in service/supply chains
In early November 2022, Made.com entered administration. Little over a year ago Made.com had floated with a valuation of £775 million. In mid-November 2022, Joules entered administration. Joules has 132 stores and around 1,700 employees.
Early contingency planning can significantly reduce the shock of customer or supplier insolvency
In this edition of our distressed supply chains series, we consider the three key factors in contingency planning for potential insolvency in the supply chain, being (i) early planning analysis and due diligence, (ii) regular monitoring of key supply chain relationships; and (iii) taking early action if something goes wrong.
In In re Roberts, No. 22-10521, 2022 WL 4592086 (Bankr. D. Colo. Sept. 23, 2022), the Bankruptcy Court of the District of Colorado (the “Bankruptcy Court”) held that a Debtor’s alleged ownership interest in cannabis-related companies did not require a dismissal of the case and that a Chapter 7 trustee could administer the Debtor’s assets. This represents a significant change from prior decisions from this Court, which has usually dismissed any bankruptcy case involving cannabis.
Background