Die strategische Planung der Maßnahmen ist zentral für das Gelingen arbeitsrechtlicher Umstrukturierungen. Die wichtigsten To-dos erfahren Sie im heutigen Beitrag.

On July 19, 2024, Judge Michael Wiles of the US Bankruptcy Court for the Southern District of New York issued a ruling in In re Mercon Coffee Corporation, Case No. 23-11945, invalidating insider releases in a proposed chapter 11 plan on the basis that the releases were improper retention-related transfers.

Judge Wiles found that he could not approve the releases – even though the debtors had promised them and insiders had relied upon that promise – because the releases did not meet the strict requirements of Bankruptcy Code Section 503(c).

In Harrington v. Purdue Pharma, the US Supreme Court in a 5-4 decision held that the US Bankruptcy Code does not permit a debtor to confirm a chapter 11 plan that releases non-debtors from similar or related claims the creditors could assert directly against them.

How does an arbitration clause, or an exclusive jurisdiction clause in favour of foreign courts, affect insolvency proceedings?

The effect of an arbitration clause, or an exclusive jurisdiction clause in favour of foreign courts, on insolvency proceedings has been a topic of longstanding debate in the Courts of Hong Kong, England and other common law jurisdictions.

Nachfolgend wird die Einordnung der Umsatzsteuer in der Insolvenz als Masse- oder Insolvenzforderung und die Auswirkung auf die Gläubigerbefriedigung erläutert.

Auch unter betriebswirtschaftlichen Aspekten stellen arbeitsrechtliche Umstrukturierungen eine Herausforderung dar. Wie CMS Advisory Sie dabei unterstützen kann, erfahren Sie im heutigen Beitrag.

Court awards first security for costs order in respect of a challenge to a restructuring plan.

Key takeaways

The High Court has for the first time awarded security for costs in respect of a challenge to a proposed English restructuring plan.¹

In today's rapidly evolving business landscape, businesses find themselves at the intersection of technological innovation and geopolitical and economic turbulence. Despite the increased reliance on software systems and digital infrastructure, it remains peculiar that in many EU Member States there's still no clear framework for handling software licenses in insolvency.

Unsere Blog-Serie führt durch die verschiedenen Phasen einer Umstrukturierung und beantwortet damit verbundene Fragen – auch abseits juristischer Themen.

The U.S. Supreme Court reversed confirmation of Purdue Pharma’s Chapter 11 bankruptcy plan of reorganization on the basis that its non-consensual third-party releases were not permissible. It held that the Bankruptcy Code does not authorize the inclusion of a release in a plan that effectively seeks to discharge claims against a non-debtor without the consent of affected claimants. The decision prohibits an approach to global resolution of mass tort litigations that has been utilized in numerous cases over the last 40 years.

Takeaways