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High Court clarifies how sanctions interact with administration orders in England and Wales

Sanctions regulations won't prevent administration orders but may affect timings and require undertakings

United Kingdom, Insolvency & Restructuring, Litigation, Trade & Customs, Osborne Clarke, Office of Foreign Assets Control (USA), Office of Financial Sanctions Implementation (UK)
Third Circuit Rules on Allowance of Make-Whole Fees and Post-Petition Interest in Solvent-Debtor Cases in In re The Hertz Corp.

On September 10, 2024, the U.S. Court of Appeals for the Third Circuit issued its opinion in Wells Fargo Bank, N.A. v. The Hertz Corp. (In re The Hertz Corp.), Case No. 23-1169, 2024 WL 4132132 (3d Cir. Sept.

USA, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Coronavirus, Third Circuit, US Court of Appeals
English High Court decisions confirm stance on foreign money judgments

Unregistered and time-barred foreign judgments can found the basis of insolvency proceedings in England

The English High Court has ruled that unregistered and time-barred foreign judgments can found the basis of insolvency proceedings in England.

The threat of insolvency proceedings can be a strong form of leverage to obtain a successful outcome on enforcement of a judgment debt, as judgment debtors will often pay up when faced with the prospect of being found insolvent.

Foreign money judgments

United Kingdom, Insolvency & Restructuring, Litigation, Osborne Clarke, Insolvency, Limitation Act 1980 (UK)