What is insolvency?
Insolvency is defined in section 95A of the Corporations Act 2001 (Cth)(Act) as the inability of a company to pay its debts when they fall due. Australian law applies a cash-flow test rather than a balance-sheet test, meaning the inquiry does not turn on the numerical gap between assets and liabilities.
As economic pressures mount and corporate distress becomes increasingly prevalent, lenders and borrowers alike are seeking proactive strategies to safeguard their interests without resorting to immediate enforcement action or commence other restructuring or insolvency proceedings. Whilst lenders typically prefer to avoid the costs and complexities of accelerating loans or enforcing security, they require effective mechanisms to monitor deteriorating financial positions of the borrower and maintain influence over critical business decisions.
Despite meeting statutory jurisdictional requirements under Part 26A of the Companies Act 2006, the High Court declined to exercise its discretion in favour of sanctioning Waldorf Production UK Plc’s restructuring plan in August 2025due to concerns about fair allocation of value and lack of meaningful engagement with unsecured creditors.
The collapse of The Lion Electric Company and its affiliates (Lion Electric) has attracted considerable attention as a sign of potential trouble in Québec’s manufacturing and electric vehicle sectors1.
In a recent case, the High Court has provided important clarification on the treatment of retention monies, reinforcing the statutory trust obligations under the Construction Contracts Act 2002 (CCA).
Harmonising EU insolvency law: colegislators reach agreement on compromise text for a new directive — key changes and what is next 8 DECEMBER 2025 EU insolvency law © A&O Shearman 2 EU directive harmonising certain aspects of insolvency law Overview and status The European Parliament and the Council (the co-legislators) reached political agreement on the proposed Directive harmonising certain aspects of insolvency law on 19 November 2025. The final compromise text was confirmed and circulated in early December 2025.
In early November 2025 one of the biggest UK’s largest private building control firms Assent Building Control Compliance Limited, along with its subsidiaries Oculus Building Consultancy Limited and LB Building Control Limited, (together “Assent”) ceased trading and subsequently entered liquidation. The collapse of such a major player in the building control sector will likely have wide ramifications throughout the whole construction industry, and particularly for HRB developments and the BSR’s Gateway 2 Application process.
Въведение
Usually, a Fixed Charge Receiver will not be liable to pay business rates. However, there are some exceptions and in some important areas the law is unclear.
Occupied Property: Limited Exposure
To be liable for business rates a party must be in occupation of the Property. This is a matter of fact and degree. Generally, the position is clear although there can be issues for example where more than one party is entitled to occupation.
重整投资作为困境企业涅槃的黄金通道，既承载着产业资本的战略野心，也考验着投资人的专业智慧。当前，市场面临着诸多变革：新“国九条”重塑资本市场生态，最高院与证监会联合发文重构上市公司重整规则，房企纾困与保交楼政策密集落地。监管趋严与市场出清双重压力下，重整投资的机遇与挑战并存。
汉坤破产与重组业务团队深耕重整投资领域，作为管理人和投资人顾问亲历多起重大重整案件，现以101个真实场景中的典型问题为切口，对法律规则进行穿透式解读，对实务问题提出针对性策略，逐层拆解重整投资的隐秘角落。
敬请关注，共探破局之道，共同把握重整浪潮中的确定性机遇。
今日推出第十三期：《上市公司重整篇（中）》。为您介绍投资实践中可能遇到的实施主体变更、出资人权益调整、投资条件/承诺等问题。
上市公司重整篇（中）
一、上市公司重整投资实施主体的变更或指定？