The temporary measure allowing companies and other qualifying bodies to hold AGMs virtually will be extended until 30 December 2020. The measure, which was introduced as part of the UK Government's response to the COVID-19 pandemic, had been due to expire on 30 September 2020.

As in most countries around the globe, businesses and individuals in Singapore are grappling with the financial fallout from the COVID-19 pandemic.

Although not drafted with the effects of a pandemic in mind, new insolvency and restructuring laws in Singapore are timely and should provide valuable assistance in some circumstances.

One of the first questions we are often asked by buyers in distressed M&A situations is what is the likely quantum of employee liabilities? It is not uncommon for buyers to want to restructure the workforce post-completion and early engagement on this issue is key.

Transaction structure and its impact on employment

In the last installment of this 3-part series, Oscar van Rossum du Chattel, a Senior Case Intelligence Manager based in Omni Bridgeway’s Geneva office, and Jonathan Siklos, a Senior Case Intelligence Manager bas

In part 2 of this 3-part series, Omni Bridgeway turns to Nathan Landis, an Investment Manager based in our Perth office, Shane Taylor, a Business Development Director based in our Sydney office,

Introduction and points for consideration by trustees

Summary

As the COVID-19 pandemic and related global economic slowdown continues, corporate insolvencies are on the rise —and so too is the need for capital to pursue insolvency-related claims. Litigation and arbitration claims are often high value assets of insolvent estates and can be used to generate income during difficult financial times. However, substantial economic resources are usually required to realize their full value. This is where dispute financing provides an important tool at the insolvency practitioner’s disposal.

The Corporate Insolvency and Governance Bill (the Bill) has completed all of its stages in the House of Commons, without material amendment to the Bill as originally drafted. All three readings in the House of Lords are scheduled to take place in June 2020, and expectations are that the Bill will receive Royal Assent, and will be enacted, very shortly thereafter.

On 6 April 2020, the Insolvency Act 1986 (Prescribed Part) (Amendment) Order 2020 came into force. This order amends the Insolvency Act 1986 (Prescribed Part) Order 2003, and increases the maximum amount of the prescribed part from £600,000 to £800,000.

Prescribed Part

The “prescribed part” is the term given to a portion of funds realised from assets charged by way of floating, but not fixed, charge, where:

1 the floating charge was created on or after 15 September 2003; and