A secured creditor with a hypothec (charge) over a specific immovable property can enforce against that property without having to put the debtor through a full-blown bankruptcy process. That was one of the key outcomes of the Royal Court's decision in Representation of Prospect Holdings Limited[2025] JRC 164.
What happened?
Judge Parker of the U.S. Bankruptcy Court for the Western District of Texas recently issued an order in the case of Hilltop SPV, LLC, granting debtor Hilltop SPV LLC’s (“Hilltop”) motion to reject a Gas Gathering Agreement (“GGA”) with counter-party Monarch Midstream, LLC (“Monarch”).[1] This decision allows Hilltop to reject the GGA while allowing Monarch to retain the covenants that run with the land post-rejection.
This briefing note provides an outline of the different processes of voluntary winding up and striking off under the Companies (Guernsey) Law, 2008 (as amended) (the “Law”).
Voluntary winding up
Harrington v. Purdue Pharma L.P., 144 S. Ct. 2017 (June 27, 2024)
The Cayman Islands team obtained what may be the first instance of a permanent stay of an official liquidation of a Cayman Islands company.
Few would disagree that when a company is placed in official liquidation, that is the penultimate step before the company's death. Official liquidators will realise the company's assets and distribute them to stakeholders, before the company's eventual, but inevitable dissolution.
But does official liquidation have to be the end of the company? Can anything be done to halt the march towards dissolution?
1. Montague Goldsmith AG v Goswick Holdings Limited and Ors [2024] JRC 170
What happened?
Judges of Barcelona unify principles on certain points of insolvency law
International case law
European jurisprudence on universal and territorial procedures
Judgment of the Court of Justice of the European Union of April 18, 2024 (AIR BERLIN case)
2024: main new legislation needing to be considered by companies in Spain 2024 Viewpoint Spain 2 2024: main new legislation needing to be considered by companies in Spain December 2023 Professionals in the various practice areas at Garrigues take a look, from all angles of business law, at the main new legislation that companies will face in the coming year. 2024 promises to be an intense year in terms of statutory and case law.
La nueva regulación concursal permite a los acreedores de una compañía insolvente convertirse en nuevos dueños con un plan de reestructuración homologado por un juez. El caso Celsa, el primero en el que unos fondos han presentado un plan hostil para hacerse con la empresa, anima a que las empresas familiares tomen medidas de manera anticipada.