As the ‘slow crush’ of persistently high interest rates bites, businesses of all kinds are struggling and many are reaching the point of failure, as indicated by each month’s number of creditors’ voluntary liquidations (CVLs) charting higher than the same period a year prior. The latest statistics from The Insolvency Service reveal that registered company insolvencies in October 2023 were 18% higher than in the same month in 2022.
On 26 September 2023, our Insolvency and Asset Recovery team hosted a seminar explaining the emerging and developing types of disputes focussed on insolvent estate recoveries.
Nuo Ji, Lingqi Wang, Jessica Li and Sylvia Zhang, Fangda Partners
This is an extract from the 2024 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Hajime Ueno, Masaru Shibahara and Kotaro Fuji, Nishimura & Asahi
This is an extract from the 2024 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.
This is an Insight article, written by a selected partner as part of GRR's co-published content. Read more on Insight
Heidi Chui, Stevenson, Wong & Co
This is an extract from the 2024 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.
This is an Insight article, written by a selected partner as part of GRR's co-published content. Read more on Insight
In summary
Swee Siang Boey and Suchitra Kumar, RPC Premier Law
This is an extract from the 2024 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.
This is an Insight article, written by a selected partner as part of GRR's co-published content. Read more on Insight
Divorce and Family partner Lisette Dupré and Commercial Litigation partner Elaina Bailes were among 500 lawyers from more than 50 countries who gathered for the AIJA International Young Lawyers’ Congress in Rio between 20 and 26 August. This year’s theme was rethinking the law in four dimensions, which called upon speakers to think more about how the law may develop in the next five years than simply looking at how it stands today.
Section 423 of the Insolvency Act 1986 (s423) provides for the avoidance of transactions intended to put assets out of the reach of creditors or otherwise prejudice their interests. It is one of the most effective weapons in global asset recovery scenarios and is widely used. Partner Tim Symes, associate Jack Barlow and paralegal Bruno Ponte consider the proof needed to get home on an s423 claim, consider some recent caselaw and provide examples of what a court might order if a claim is successful.
A combination of continued high prices and rising interest rates has heaped pressure on already struggling businesses through the summer of 2023. The challenging circumstances have lead to an overall rise in creditors’ voluntary liquidations (CVLs) compared to both earlier months and the previous year, though the picture borne out by the statistics is more complicated than might be expected.
Matthew Czyzyk, Natalie Blanc and Toby Morris, Ropes & Gray
This is an extract from the 2023 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
This is an Insight article, written by a selected partner as part of GRR's co-published content. Read more on Insight