The face of the UK's high streets and shopping centres continues to change rapidly as consumers, shopping and leisure habits change and evolve.
In this latest article in our "future of consumer" series, we look at the continued use of company voluntary arrangements (CVAs) by retailers (and restaurant owners) to reduce their exposure to landlords under their leases and ask what are the trends and the future direction of this restructuring procedure.
The High Court has recently considered a number of questions of contractual construction in the context of guarantees: Barclays Bank plc v Price & Ors [2018] EWHC 2719 (Comm).
A High Court Master has found that the court must maintain privilege in the documents of a dissolved company unless and until there is no prospect of the company being restored to the register: Addlesee v Dentons Europe LLP: [2018] EWHC 3010 (Ch).
Global Restructuring Review is a leading source of news and insight on cross-border restructuring and insolvency law and practice, read by international lawyers, insolvency practitioners and accountants, judges, corporate counsel, investors and ac
Global Restructuring Review is a leading source of news and insight on cross-border restructuring and insolvency law and practice, read by international lawyers, insolvency practitioners and accountants, judges, corporate counsel, investors and academi
Singapore’s new (the Omnibus Bill) was passed by parliament on 1 October 2018 and is expected to come into force later this year or in early 2019.
The Omnibus Bill, which was introduced to parliament on 10 September 2018, consolidates Singapore's corporate and personal insolvency and restructuring laws into a single enactment. It also generally updates the insolvency legislation and introduces a significant number of new provisions, particularly in respect of corporate insolvency.
GUIDE TO RESTRUCTURING, TURNAROUND AND INSOLVENCY IN ASIA PACIFIC OCTOBER 2018
The Court of Appeal has overturned a High Court decision granting a non-party costs order against an insolvent company’s director and majority shareholder. The court cited the claimant’s failure to warn the non-party of its intention to seek such an order as fatal to the application: Sony/ATV Music Publishing LLC v WPMC Ltd (in liquidation) [2018] EWCA Civ 2005.
On 12 September 2018, the High Court of Australia (High Court) gave judgment in the case of Mighty River International Limited v Hughes (Mighty River).1 In that decision, the High Court (by a 3:2 majority) held that a “holding” deed of company arrangement (DOCA) is valid.
In brief
Mesa Minerals Ltd was placed into voluntary administration on 13 July 2016 with a holding deed of company amendment (‘DOCA’) entered into on 3 November 2016. The DOCA’s stated objective was to provide sufficient time for the Administrators to conduct further investigations into the course of action in the best interests of the creditors. Clause 8 of the DOCA stated that there was no property available for distribution to creditors.