Fulltext Search
European Restructuring: 2024 in review and outlook for 2025

Market overview

European Union, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Corporate governance, Carillion
The Twilight, or Rebirth, of Liability Management? Serta and Mitel Decisions Reach Opposite Conclusions on the Permissibility of Uptier Exchange Transactions

Introduction & Key Takeaways

The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have played a large role in corporate debt restructurings for the past several years.

USA, Banking, Company & Commercial, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Jevic Keeps on Gifting: Third Circuit Reaffirms Solvent Debtor Exception by Holding Unsecured Creditors of Solvent Debtor Entitled to Post-Petition Interest at the Contract Rate

On September 10, 2024, the U.S.

USA, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Collective Redundancies on Insolvency: Irish Employee Rights Bolstered

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2023 (Collective Redundancies AmendmentAct) came into operation on 1 July 2024.

Ireland, Employment & Labor, Insolvency & Restructuring, William Fry, Insolvency
Additional Rights to Information for Employees of Insolvent Companies

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2023 (Act) came into effect on 1 July 2024.

Ireland, Employment & Labor, Insolvency & Restructuring, Litigation, William Fry, Insolvency
Companies Act 2014: Changes to Test for Reckless Trading Take Effect

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 has been commenced with effect from 1 July 2024.

Ireland, Company & Commercial, Insolvency & Restructuring, Arthur Cox LLP
Increased protection for employees in insolvency situations comes into force from 1 July 2024

On 1 July 2024, the Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 was commenced in full and is now law.

Ireland, Insolvency & Restructuring, Arthur Cox LLP
Horizon Scanner: Infrastructure, Construction, Energy - Employment

ACT WHICH ENHANCES PROTECTION FOR EMPLOYEES AFFECTED BY INSOLVENCY NOW LAW

European Union, Ireland, Employment & Labor, Insolvency & Restructuring, Litigation, Arthur Cox LLP, Insolvency
Increased Protection for Employees in Insolvency Situations Signed into Law

The Employment (Collective Redundancies and Miscellaneous Provisions) Act 2024 has been signed into law. The Act, once commenced, will amend the existing collective redundancy regime in insolvency situations and will deliver on key Programme for Government commitments detailed in the Plan of Action – Collective Redundancies following Insolvency.

Background

Ireland, Employment & Labor, Insolvency & Restructuring, Arthur Cox LLP, Insolvency, Department of Enterprise, Trade and Employment (Ireland), Companies (Rescue Process for Small and Micro Companies) Act 2021 (Ireland)
Application was Indirect Attempt to Enforce Foreign Revenue Debt

Redefine Australian Investments Limited (Company), an Irish-registered company was placed in voluntary liquidation on 24 January 2018. Martin Ferris was appointed as the liquidator (Liquidator).

The Proceedings

Ireland, Banking, Insolvency & Restructuring, Litigation, William Fry