Creditor duty
In BTI 2014 LLC v Sequana SA the Supreme Court considered the issue of the so-called ‘creditor duty’.
European leveraged finance markets paused for breath in 2022, due to rising interest rates, volatile geopolitics and a tightening of financial markets across the board—but what can we expect in 2023?
Restructuring Plans and Chapter 11: A Transatlantic Perspective
Key Takeaways
1
The restructuring plan regime - including, for the first time under English law, cross-class cram down - was introduced in June 2020. Our experience with restructuring plans proposed to-date has been that the English courts have (for the most part) implemented this new tool flexibly, pragmatically and commercially.
2
Eight lessons from previous recessions
It does not take a professional economist to predict that a serious economic downturn is possible in the UK. Given that workforces will be impacted by this, many companies providing workforce support services are likely to be particularly affected.
The recently published Financial Services and Markets Bill (FSM Bill) is intended to recast the U.K.’s regulatory architecture post-Brexit. It was introduced to Parliament on 20 July 2022. The Bill implements the outcomes of the Future Regulatory Framework Review, which assessed whether the U.K.
The recently published Financial Services and Markets Bill (FSM Bill) is intended to recast the U.K.’s regulatory architecture post-Brexit. It was introduced to Parliament on 20 July 2022. The Bill implements the outcomes of the Future Regulatory Framework Review, which assessed whether the U.K.
Rising distress? 2022 in statistics31 December 2022
Court exercises discretion to grant examination orders The Court of Appeal affirmed the High Court’s exercise of its discretion to grant orders that a company director be examined in Court notwithstanding that director was involved (as defendant in one instance and as the director of a defendant company in the other) in separate legal proceedings that have been commenced by the liquidator.
Environment, social, and governance (ESG) are factors directors, investors, industries, and governments increasingly focus on when making commercial decisions. This is particularly so given increasing public awareness of such issues following recurrent environmental disasters and international summits such as COP26. Tim Symes and Ryan Hooton review the current regulatory environment in the UK, how it might bite on a company’s insolvency and when directors may find themselves personally liable for their actions.
This month sees a statement by the Charity Commission on the Ukraine crisis and how this impacts charities, and a factsheet released by the UK government on the impact the war has had on energy.
There are also some very interesting articles regarding support for domestic abuse victims to how to deal with Social Housing complaints.
Finally there is a press article on TLT’s involvement in the innovative second modular deal for Town and Country Housing and Legal and General Modular Homes.
In the latest edition of Going concerns, Stephenson Harwood's restructuring and insolvency team touches on the extent of the automatic stay arising from the recognition of a foreign main proceeding under the Singapore Model Law cross-border recognition regime, the requirements for a pre-pack scheme of arrangement under the recent Singapore Insolvency, Restructuring and Dissolution Act 2018, and the importance of Environmental, Social and Governance ("ESG") in the restructuring context.
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