With an increase in airline restructuring activity caused by the Covid-19 pandemic, aircraft financiers, lessors and their lawyers around the world have been analysing whether a restructuring plan under Part 26A of the Companies Act 2006 (a ‘Plan’) can be used by debtors to modify, without the creditors’ consent, their obligations under certain leases and security agreements to which the Cape Town Convention applies.
In brief
In brief
In brief
The new small business insolvency reforms enacted by the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Cth) (Corporations Amendment Act) - which inserts a new Part 5.3B into the Corporations Act 2001 (Cth) (Corporations Act) - are due to come into effect on 1 January 2021.
In brief
The new small business insolvency reforms enacted by the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Corporations Amendment Act) - which inserts a new Part 5.3B into the Corporations Act 2001 (Cth) (Corporations Act) - are due to come into effect on 1 January 2021.
In brief
The Federal Court has ordered that an insolvency professional be appointed to act as a referee and to decide questions of insolvency in relation to a series of alleged unfair preferences, rather than have the judge undertake that task.
Contents
In brief
The Federal Court has ordered that an insolvency professional be appointed to act as a referee and to decide questions of insolvency in relation to a series of alleged unfair preferences, rather than have the judge undertake that task.
Key takeaways
In brief
As of 19 October 2020, the changes to the Bankruptcy Code of Ukraine became effective.
What’s new
From 17 October 2020, and for the quarantine period, the following changes are introduced in the bankruptcy procedure:
In brief
Simplified Insolvency Programme (“SIP”)