Swee Siang Boey, Vani Nair, Selina Toh and Suchitra Kumar, RPC Premier Law
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Nuo Ji, Lingqi Wang, Jessica Li and Sylvia Zhang, Fangda Partners
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
This is the first article in 'Back to Basics', a series of articles looking at insolvency processes in Scotland. In this article I examine the court process for winding up a company.
A winding up petition is a form of legal action that can be used when a company is unable to pay its debts as they fall due. Sections 122 to 124 of the Insolvency Act 1986 (‘the Act’) deal with how to wind up a company in Scotland.
When is a company deemed unable to pay debts?
In the recent Sheriff Court judgment in the case of The Accountant in Bankruptcy v Peter A Davies, the Sheriff sought to clarify how a family home should be dealt with following the sequestration of an individual.
Background
The debtor was sequestrated in October 2010.
In October 2020, the Accountant in Bankruptcy (‘AiB’) applied to the Sheriff under section 40 of the Bankruptcy (Scotland) Act 1985 (now section 112 of the Bankruptcy (Scotland) Act 2016) to permit the sale of the debtor’s family home.
There were big changes in 2020 in the world of restructuring and insolvency legislation with the introduction of two new restructuring tools: the Moratorium and the Restructuring Plan, as well as the reintroduction of Crown preference.
Karen McMaster, Ben Andrews and James Cameron, Milbank LLP
This is an extract from the 2020 edition of GRR's the Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Cristóbal Eyzaguirre B, Rodrigo Ochagavía R-T and Santiago Bravo S, Claro & Cia
This is an extract from the 2021 edition of GRR's The Americas Restructuring Review. The whole publication is available here.
In summary
DJ Miller, Thornton Grout Finnigan
This is an extract from the 2021 edition of GRR's The Americas Restructuring Review. The whole publication is available here.
In summary
This chapter highlights the flexible nature of Canada’s restructuring regime, where creative solutions to novel and complex issues are welcomed by the judiciary.
Discussion points
Luiz Fernando Valente de Paiva, Giuliano Colombo, Andre Marques, Carolina Kiyomi Iwamoto and Ana Beatriz Araujo Ribeiro do Valle, Pinheiro Neto Advogados
This is an extract from the 2021 edition of GRR's The Americas Restructuring Review. The whole publication is available here.
In summary
Adrián Thery, Borja García-Alamán, Juan Verdugo and Juan María Jiménez, Garrigues
This is an extract from the 2020 edition of GRR's the Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary