Nuo Ji, Lingqi Wang and Jessica Li, Fangda Partners
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
In the wake of the COVID-19 pandemic, more and more businesses are finding themselves in distress. According to Forbes, 30 million small businesses across the United States are experiencing financial distress, with half of those blaming the global pandemic for revenue decline. These challenges are especially felt by small businesses who may have limited access to the financial markets and investors as compared to larger companies, both public and private, and especially those whose owners have made personal guarantees on business loans.
The COVID-19 pandemic has caused unprecedented economic disruption, creating sudden financial distress across industries. Companies are now facing impacts ranging from a dramatic decline in revenue of uncertain duration, to potential setbacks to M&A transactions, to delayed or canceled financing rounds.
With even some previously well-performing companies potentially entering the so-called zone of insolvency, it’s important to review the fiduciary duties owed by directors and officers and how discharging those duties may change in the face of financial distress.
Saam Golshani and Alexis Hojabr, White & Case LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Christopher Harlowe and Christopher Levers, Mourant
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
The Cayman Islands has established itself as the jurisdiction of choice for financially sophisticated businesses such as hedge funds, private equity funds, special purpose vehicles and trusts that use offshore vehicles.
David Baxter and Brian O’Malley, A&L Goodbody
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Introduction
Pre-packs in Ireland probably are not as common as they should be. In theory, a pre-pack is broadly available in each of our insolvency procedures: liquidation, examinership and receivership.
Dominic Emmett and Hannah Cooper, Gilbert + Tobin
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Dennis F Dunne, Dennis C O'Donnell and Nelly Almeida, Milbank LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Introduction
Jacqueline Ingram and Damilola Odetola, Milbank LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.
Yushan Ng and Jacqueline Ingram, Milbank LLP
This is an extract from the first edition of GRR's The Art of the Pre-Pack. The whole publication is available here.