John Wasty, John Riihiluoma, Lalita Vaswani and Sam Riihiluoma, Appleby
This is an extract from the 2022 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
CVAs continued to be a popular restructuring tool in 2021. As the retail industry gears up for what is expected to be a busy festive period, it marks the end of another year in which the close scrutiny and attempted challenge by landlords to retail CVAs continued.
What is a CVA?
Alternative Dispute Resolution (ADR) is the overarching name given to the different processes used to determine disputes between parties out with a formal court process. ADR is becoming more popular, but is not as widely used by insolvency practitioners (IPs) in the UK to resolve disputes arising from an insolvency event as it perhaps should be.
The most recent UK and Scotland-specific statistics seem to show that the low comparative levels of corporate insolvency that we have seen as a result of the COVID-19 temporary measures may be coming to an end.
The Accountant in Bankruptcy (AiB), the Scottish equivalent of the Insolvency Service, reports that the number of Scottish companies becoming insolvent or entering receivership increased by over 80% in the second quarter of 2021-22, with 211 companies becoming insolvent compared with 117 in the same quarter of 2020-21.
In a recent decision that will be of considerable interest to insolvency practitioners, the English High Court dismissed a challenge to a liquidator's decision to assign causes of action originally vested in an insolvent company to a specialist insolvency litigation financing company.
The latest insolvency statistics have now been released by the Insolvency Service and the Accountant in Bankruptcy ("AiB").
The AiB is responsible for the devolved elements of corporate insolvency, which is limited to liquidation and receivership. The Insolvency Service on the other hand records details on matters for which responsibility is retained at Westminster, being administration and CVAs.
Chul Man Kim, Sun Kyoung Kim, Sy Nae Kim and Woo Suk Jung, Yulchon LLC
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Abhishek Tripathi and Mani Gupta, Sarthak Advocates & Solicitors
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Heidi Chui, Stevenson, Wong & Co
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Hajime Ueno, Masaru Shibahara and Hiroki Nakamura, Nishimura & Asahi
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary