For what comes next tlt.com Disputes Outlook 2026 Insolvency TLT TLT Disputes Outlook 2026 Disputes Outlook 2026 Contents 2 Contents Live issues Expanded claims against directors of insolvent companies 3 Creditor challenges outside of formal insolvency 3 Increased regulation in the private rented sector 4 Emerging trends Insolvency proceedings as a method of debt recovery 5 Contested winding up and bankruptcy petitions 5 Mid-market restructuring plans 6 Spot the risks. Plan ahead. Resolve with confidence. Disputes aren’t always avoidable, but being prepared can make all the difference.

ARBITRATION

Date: 09 December, 2025

Case Name: Hindustan Petroleum Corporation Ltd. v. BCL Secure Premises Pvt. Ltd. Civil Appeal No. 14647 of 2025

Forum: Supreme Court

Mass torts and resulting litigation are a reality of life in these United States.

But one of the truly shocking things about mass tort litigation, in recent times, is this:

• judicial delays override the wishes of mass tort victims for prompt payment of negotiated amounts.

A current example of such delays is the Boy Scouts confirmed bankruptcy plan.

Chronology

Here is a short Chronology of the Boy Scouts bankruptcy plan—and the lapse of more than three years since confirmation without a final resolution:

When a professional corporation operates with equipment owned personally by its director, how do secured creditors assert priority over proceeds from a receivership sale?

On 11 December 2025, the National Assembly adopted the Law on Rehabilitation and Bankruptcy ("New Rehabilitation and Bankruptcy Law"), which will supersede the current Law on Bankruptcy enacted in 2014 ("Bankruptcy Law 2014"). The New Rehabilitation and Bankruptcy Law will take effect on 1 March 2026, except for Article 38.3, which addresses the obligations of the tax authority in filing a bankruptcy petition; this provision will take effect on 1 July 2026.

The Uniform Law Commission (“ULC”) is the same organization that brought us the Uniform Commercial Code, the Uniform Trust Code, and other “Uniform” state laws.

The ULC is now offering a Uniform Assignment for Benefit of Creditors Act (the “Uniform ABC Act”).

The new Uniform ABC Act codifies the common law of ABCs. Such common law has its foundation in the law of trusts: i.e., debtor is the trustor, assignee is the trustee, and debtor’s creditors are the beneficiaries.

2025年是“十四五”规划收官之年，也是深入贯彻《中共中央关于进一步全面深化改革、推进中国式现代化的决定》（下称“《决定》”）进一步全面深化改革的重要一年。《决定》指出：“健全企业破产机制，探索建立个人破产制度，推进企业注销配套改革，完善企业退出制度。健全社会信用体系和监管制度。”在《决定》的指引下，2025年国内围绕破产制度的立法、司法亮点纷呈，市场主体运用破产制度纾困、退出、权利维护的实践更加深入和丰富，破产重整制度在加强营商环境建设、促进民营经济发展、防范化解重大风险、增进人民福祉等方面都发挥了重要作用。值此新旧更替之际，本文试图梳理和总结2025年中国公司破产重整实务情况并展望2026年的发展态势，以求教于同仁。

一、概览

Introduction

Reverse vesting orders (“RVOs”) have evolved from a creative restructuring tool used sparingly under the Companies’ Creditors Arrangement Act (“CCAA”) into a flexible instrument increasingly considered in receivership and other insolvency proceedings. The past two years have seen Canadian courts (particularly in British Columbia) grapple with whether, and in what circumstances, an RVO can be justified under the Bankruptcy and Insolvency Act (“BIA”).

核心要点

在Novabrite Lighting Sdn Bhd v Emrail Sdn Bhd（Balaranee Construction，介入人）[2025] 11 MLJ 275一案中，高庭明确表示，法庭不会允许欠债人以司法管理作为战术手段，来阻挠债权人执行行动，而非真诚地推进公司重整。高庭以滥用诉讼程序为由驳回司法管理申请，并认可债权人在司法管理触动自动暂缓令期间提交的清盘申请，同时作出把关令，规定日后任何新的司法管理申请均须先取得法庭许可方可提出。

此外，高庭亦强调《2016年公司法》下的法定前置条件必须被严格遵守；反复依赖自动暂缓令本身亦可能构成滥用诉讼程序，并且法院将主动干预, 即便是自行行使职权（ex proprio motu），以防司法管理机制被“武器化”对付债权人。

A. 背景事实

Balaranee Construction 是 Emrail Sdn Bhd 的无担保债权人，其债权来源于未支付的劳务费用。当Emrail 未能按约定还款后，Balaranee 发出了法定通知，并随后提呈清盘申请。