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    India law update: National Company Law Appellate Tribunal of India clarifies ‘existence of disputes’
    2017-07-17

    Written by Ashmi Mohan at Clasis Law

    In its recent judgment of Kirusa Software Private Ltd. vs. Mobilox Innovations Private Ltd. Company Appeal (AT) (Insolvency) 6 of 2017, the National Company Law Appellate Tribunal of India (“Appellate Tribunal”) has adjudicated upon the issue as to what does “dispute” and “existence of dispute” mean for the purpose of determination of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“Code”).

    Filed under:
    India, Insolvency & Restructuring, Litigation, Clyde & Co LLP
    Location:
    India
    Firm:
    Clyde & Co LLP
    Hanjin Shipping - Current jurisdictional status and options - Canada
    2016-10-04

    On 1 September 2016, the Korean Court issued orders commencing rehabilitation proceedings for Hanjin and staying proceedings against it and its assets (Korean Orders).

    The purpose of the Korean proceeding is to rehabilitate the insolvent debtor company, Hanjin, by restructuring its debts. The debts are restructured according to a rehabilitation plan approved by the creditors and the Korean Court. The aim is to protect Hanjin while it trades out of its debt.

    Filed under:
    Canada, South Korea, Insolvency & Restructuring, Litigation, Shipping & Transport, Clyde & Co LLP
    Location:
    Canada, South Korea
    Firm:
    Clyde & Co LLP
    Insolvency law v arbitration
    2016-06-17

    First published in the International Arbitration 1/3LY, Issue 7

    Insolvency law contains summary processes for dealing with claims and protections against certain proceedings commencing or continuing. There has been some debate, and recent case law, concerning the primacy of these rules over agreements to arbitrate. In the following article, we look at what the current position is under English law and beyond.

    General position under English law

    Filed under:
    United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Clyde & Co LLP, Liquidation, Insolvency Act 1986 (UK)
    Location:
    United Kingdom
    Firm:
    Clyde & Co LLP
    Ras Al Khaimah v Bestfort
    2015-11-30

    Application for a freezing order in support of foreign proceedings/appointment of a receiver and a power of attorney

    http://www.bailii.org/ew/cases/EWHC/Ch/2015/3383.html

    The applicants (based in the UAE and Georgia) sought freezing orders against the respondents in support of proceedings taking place overseas. The respondents are LLPs registered in England and Wales and owned by a Georgian national.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Clyde & Co LLP, Power of attorney
    Authors:
    Nigel Brook
    Location:
    United Kingdom
    Firm:
    Clyde & Co LLP
    Bache & Ors v Zurich Insurance PLC
    2014-07-29

    Whether insurer liable to repay purchasers’ deposits following dissolution of developer/policy interpretation

    http://www.bailii.org/ew/cases/EWHC/TCC/2014/2430.html

    Filed under:
    United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP
    Authors:
    Nigel Brook
    Location:
    United Kingdom
    Firm:
    Clyde & Co LLP
    Insolvency claims against directors, officers and their advisers set to soar
    2020-12-31

    The emergence of a new, more infectious, Covid-19 variant and the imposition of ever more severe lockdowns extends the downside risk on the IMF’s recent outlook for the global economy and its warning of a ‘long, uneven road to recovery’.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Clyde & Co LLP, Coronavirus
    Location:
    United Kingdom
    Firm:
    Clyde & Co LLP
    Covid-19 Real Estate update: Restrictions on use of statutory demands and winding up petitions
    2020-05-22

    The UK Government has finally set out details of the proposed measures to temporarily restrict the use of statutory demands and winding up petitions during the worst of the COIVD-19 pandemic

    Filed under:
    United Kingdom, Insolvency & Restructuring, Clyde & Co LLP, Landlord, Coronavirus
    Authors:
    Keith Conway , Andrew Foster , Jeremy Stephen
    Location:
    United Kingdom
    Firm:
    Clyde & Co LLP
    Oberlandesgericht München bestätigt: Kein Versicherungsschutz für Ansprüche gemäß § 64 GmbHG
    2019-12-19

    Das Oberlandesgericht München hat in einem bisher unveröffentlichten Hinweisbeschluss[1] die Rechtsauffassung des Oberlandesgerichts Celle[2] und des Oberlandesgerichts Düsseldorfs[3] bestätigt, dass für Ansprüche des Insolvenzverwalters gegen Geschäftsführer wegen Zahlungen trotz Insolvenzreife kein Versicherungsschutz unter einer D&O-Versicherung besteht. Daneben hat das Oberlandesgericht München auch zur Verteilung der Darlegungs- und Beweislast in Abtretungskonstellationen Stellung bezogen.

    Filed under:
    Germany, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP, Federal Court of Justice
    Authors:
    Dr Henning Schaloske
    Location:
    Germany
    Firm:
    Clyde & Co LLP
    New Bankruptcy Law in the Kingdom of Saudi Arabia
    2018-02-26

    Saudi Arabia recently published a new Bankruptcy Law. This is the latest development of a string of reforms under Vision 2030 to further encourage the participation of foreign and domestic investors by structuring the business legal framework. This article provides a general analysis of the new bankruptcy law and its implications for businesses operating in the Kingdom.

    Filed under:
    United Arab Emirates, Banking, Company & Commercial, Insolvency & Restructuring, Clyde & Co LLP
    Location:
    United Arab Emirates
    Firm:
    Clyde & Co LLP
    Singapore Implements the UNCITRAL Model Law on Cross-Border Insolvency
    2017-06-12

    Globalisation has been described as an evolving set of consequences – some good, some bad and some unintended. In this regard, when companies go global, insolvency is perhaps the furthest thing from their minds. Yet, while business failure may be unintended, when a global company becomes insolvent or attempts debt restructuring, its insolvency representative e.g. liquidator or manager, will often have to deal with assets and creditors across the globe.

    Filed under:
    Global, Singapore, Banking, Insolvency & Restructuring, Litigation, Clyde & Co LLP, Court of Appeal of Singapore, Singapore High Court
    Authors:
    Prakash Pillai
    Location:
    Global, Singapore
    Firm:
    Clyde & Co LLP

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