In many bankruptcy cases, disappointing recoveries lead creditors to look for deep pockets as targets. This scrutiny is frequently directed at a bankrupt company’s directors and officers (D&Os or fiduciaries) in so-called D&O suits. These lawsuits are most often brought by bankruptcy trustees, creditors’ committees, liquidating trusts, and other bankruptcy estate representatives.

Legislative Decree No. 1511, which was recently enacted in Peru, provides for a special bankruptcy procedure called the Expedited Procedure for Bankruptcy Refinancing (“PARC” for its initials in Spanish), which is intended to help businesses affected by the coronavirus disease 2019 (COVID-19) pandemic negotiate with their creditors and agree on an orderly restructuring of debt payments to avoid insolvency.

Several aspects of PARC merit special attention, including the following:

The Corporate Insolvency and Governance Bill introduces a new standalone moratorium procedure for companies. The moratorium is part of a package of significant legislative reforms contained in the Bill and intended to enhance the UK’s restructuring rescue culture. These were originally consulted on in 2018 and have now been fast-tracked to deal with the COVID-19 pandemic.

For those following the fallout from the Fyre Festival, the drama continues. Last week, model and influencer Kendall Jenner settled a bankruptcy lawsuit for $90,000 relating to her promotion of the Festival.

The UK Department for Business, Energy and Industrial Strategy introduced the Corporate Insolvency and Governance Bill (the Bill)¹ into Parliament on 20 May 2020. The Bill is due to proceed through Parliament on an accelerated timetable and is expected to come into force without changes towards the end of June 2020.

The rapidly changing impact of COVID-19 on companies and the wider economy presents directors with the unenviable task of balancing the immediate need to secure the survival of their company against the longer-term implications for their stakeholders. In March, the UK Government announced that wrongful trading measures would be temporarily suspended to ease this pressure. The suspension measures are included in the Corporate Insolvency and Governance Bill, which introduces both temporary measures, such as this, and permanent and significant changes to UK insolvency law.

On 23 April 2020, the UK Government announced that the use of statutory demands and winding-up petitions would be restricted to ‘safeguard the UK high street against aggressive debt recovery actions' during the COVID-19 pandemic.

Guiding a business as a chief executive officer is difficult in the best of times. In the midst of a pandemic, uncertainty is rampant. However, in that uncertainty often times there is opportunity.

Sometimes Chapter 11 is a viable and appropriate strategy for an organization to right size its balance sheet and adjust its long term contracts. CEO's must adapt to changing circumstances. Careful consideration of the impacts - both positive and negative - of Chapter 11 can be critical to guiding an organization and in some cases, it may allow a business to thrive.

The United States Supreme Court opted not to hear a dispute regarding broad third party releases contained in a plan of reorganization which releases were held by lower courts to be binding on nonconsenting creditors. In the Third Circuit bankruptcy case of Millenium Lab Holdings II LLC, the bankruptcy court approved a plan containing such releases, a decision upheld on appeal by the District Court in Delaware and thereafter by the Third Circuit Court of Appeals. The Third Circuit's decision was largely based on its interpretation of the Supreme Court's decision in Stern v.

L’art. 1 del cd. Decreto Liquidità prevede come noto la possibilità per imprese di ogni dimensione di accedere a finanziamenti bancari assistiti in misura variabile da garanzia prestata da SACE.

Nel suo articolato, la norma si riferisce alla “impresa beneficiaria” quale destinataria del finanziamento; sono tuttavia numerosi i riferimenti al gruppo di appartenenza di tale impresa, principalmente ai fini del calcolo dei parametri ma anche in relazione ad obblighi (ad esempio l’impegno a non deliberare la distribuzione di dividendi deve riguardare tutte le società del gruppo).