The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.
The United Kingdom Supreme Court has just released an important insolvency judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Sequana), which concerns when and the extent to which directors of a company must consider the interests of creditors.
Two recent cases examine whether, given the impossibility to liquidate a company due to a corporate deadlock, a court can invalidate certain resolutions at the request of one shareholder.
UK judgment is a prompt for landlords to consider all angles to maximise rent recovery in harsh economic conditions
The UK High Court has ruled in in favour of a landlord whose original tenant and guarantor were held liable for the rent accrued on a gym in Leeds despite the subsequent assignee operating under a restructuring plan.
The reforms respond to the needs of small and medium-sized companies, speed up processes and support business recovery
The Spanish Congress has approved (30 June 2022) the Insolvency Law Reform Bill, which transposes the Directive on restructuring and insolvency. A first text was approved in December 2021, but amendments were introduced throughout the first half of 2022 that modified several important points.
Since our last newsletter, Russia's war in Ukraine rumbles on, domestic inflation hits new highs and there are signs of an increase in activity in the insolvency market. Russians unlawful assault on Ukraine continues unabated, as we enter the European summer months, and the fourth month of the invasion. Besides the utter devastation inflicted on the people and infrastructure of Ukraine, the war is having a significant impact on both global food and oil prices.
The Insolvency Service is satisfied that the restructuring plan and moratorium processes are broadly meeting their policy objectives – and that ipso facto clauses are likely to be used more in future
Insolvency practitioners will welcome the confirmation that they cannot be expected to be aware of same degree of information as if company was still trading
The Court of Appeal has confirmed that although insolvent parties may refer disputes to adjudication, they will have difficulty enforcing adjudication decisions in all but exceptional circumstances
When companies face cashflow and other pressures, early action can assist with the assessment and mitigation of these risks
Events since the start of the decade have brought accelerated and transformative change across the UK business landscape and economy. The way businesses, employers and employees work and how business growth is driven has changed and is changing profoundly.