No equipment lessor wants to find itself a creditor of a lessee in a reorganization case under chapter 11 of the U.S. Bankruptcy Code (the Bankruptcy Code). However, when such a situation arises, a lessor is not without recourse – even where the facts give rise to situations not specifically addressed by the Bankruptcy Code.

The EU Parliament adopted the Directive on future "Preventive Restructuring Frameworks", which creates the basis for uniform preventive restructuring across the European Union and will fundamentally change how companies deal with financial difficulties and restructuring.

Until now, the EU has suffered from a regulatory patchwork in this area with no regulations in some markets and sophisticated procedures in others. The new directive mitigates the dangers and risks posed by the former uneven regulatory landscape.

It is well established that the type of recognition granted by the recognising court under the UNCITRAL Model Law will depend on whether the originating proceedings are ‘foreign main’ or ‘foreign non-main’ proceedings, which in turn hinges on the centre of main interests (COMI) of the insolvent entity.

The EU Parliament adopted the Directive on future "Preventative Restructuring Frameworks.

This creates the basis for a uniform legal framework for preventive restructuring within Europe. To date there has been a "patchwork" of regulations in the EU: in some cases there are no regulations at all, in others there are sophisticated procedures in place. The new directive now counteracts the dangers and risks of such regulatory differences.

In a decision with sweeping consequences for equipment lessors, the bankruptcy court (SDNY) in Republic Airways held that a liquidated damages provision in a true lease is an unenforceable penalty if it provides for the unconditional transfer of residual value risk or market risk only upon default, without a cognizable connection to any anticipated harm caused by the default itself. Importantly for lessors and lenders alike, the bankruptcy court held that the unconditional guaranties of such obligations in favor of the lessor violated public policy and were unenforceable.

Welche Stolpersteine drohen, wenn einige Arbeitnehmer noch nach der Betriebsstilllegung für Abwicklungsarbeiten benötigt werden, zeigt der Fall Air Berlin.

Als Air Berlin im November 2017 Insolvenz anmeldete, war das Schicksal der rund 6.000 Arbeitnehmer eine der in der Presse am meisten diskutierten Fragen. Bereits ein halbes Jahr später hatten etwa 3.000 von ihnen einen neuen Arbeitsplatz gefunden, die meisten bei anderen Fluggesellschaften. Hunderte andere wurden zunächst in Transfergesellschaften betreut.

Welle von Kündigungsschutzklagen

Virtually all bankruptcy courts faced with the question of whether growers or dispensers of cannabis and cannabis products can take advantage of the protections afforded by the federal bankruptcy laws have said, no, they cannot.

R&I Alert Restructuring & Insolvency News January 2019, Issue 1 In This Issue: • Can a junior lien holder obtain discovery from a senior lien holder? 1 • Watch your language.

On August 26, 2018, the UK government issued its response to its consultation on insolvency and corporate governance. The consultation sought views on how the risk of company failure could be reduced by improving the corporate governance and insolvency framework.

For many decades, companies in the business of leasing “over-the-road” vehicles such as trucks, tractors, and trailers, have used terminal rental adjustment clause (TRAC) leases to maximize the value they can provide to their customers. Traditionally speaking, TRAC leases combine the tax advantages of leasing with an option to purchase the equipment at the end of the lease term for a residual amount determined at the inception of the lease. Since 1981, it has been well-settled that TRAC leases constitute “true” leases, and not disguised financing transactions, for federal tax purposes.