Our recent updates have explained the rise in instances of fraud and the civil litigation options open to victims of fraudulent conduct.
Lock-up agreements typically involve the company's creditors committing in advance to vote at the relevant class meeting in favour of the contemplated scheme. Lock-up agreements serve an important commercial purpose of either securing support or giving an indicator as to likely support for the scheme before the parties incur the time and expense in finalising the negotiation process of the scheme.
Mal, Hak veya Alacağın Ulusal Yargı Ağı Bilişim Sistemi Üzerinden Sorgulanması Hakkında Yönetmelik (“Yönetmelik”) 22 Ocak 2022 tarihli ve 31727 sayılı Resmî Gazete’de yayımlanarak aynı gün yürürlüğe girdi. Yönetmelik ile icra takiplerinin alacaklıları tarafından Ulusal Yargı Ağı Bilişim Sistemi (“UYAP”) üzerinden borçluların mal, hak ve alacaklarına yönelik sorgulama yapılması bakımından uygulanacak usul ve esaslara açıklık getirildi.
In a recent case involving key stakeholders in the ‘Century Mine’ (Mine) – located in the lower Gulf of Carpentaria region in Northwest Queensland – the Supreme Court of Queensland considered an application brought by a liquidator and creditor for the termination of a winding up of pursuant to section 482(1) of the Corporations Act 2001 (Cth) (Application).
Background
The Mine was operated by Century Mining Ltd (formerly Century Zinc Ltd) (Century). It was one of the largest zinc mines in the world.
This week’s TGIF examines the decision of the Supreme Court of New South Wales in In the matter of Jana Pty Ltd [2022] NSWSC 112, considering whether a ‘genuine dispute’ exists in relation to a debt claimed in a statutory demand where the debt arises from a poorly drafted deed.
Key Takeaways
The Regulation on Assets, Rights or Receivables Inquiry through the National Judiciary Informatics System (“Regulation”) was published in Official Gazette dated 22 January 2022 and numbered 31727 and entered into effect on the same day. With the Regulation, procedures and principles applicable to inquiries on assets, rights, and receivables of the debtors through the National Judiciary Informatics System (“UYAP”) by the creditors within the scope of the execution proceedings are clarified.
Litigation funding can play an important role in allowing liquidators to recover debts on behalf of liquidated companies, where there may be a real prospect of success in recovery proceedings but where obstacles such as funding or security for costs may present themselves.
Good evening.
Following are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of March 7, 2022.
In Ernst & Young Inc. v. Aquino, the court upheld the application judge’s decision to grant the orders the Bondfield monitor and trustee in bankruptcy requiring payments made at undervalue to be repaid. In coming to its decision, the Court applied the corporate attribution doctrine.
In the first of our short videos in relation to business recovery and resilience, John Alderton (Partner in our Restructuring & Insolvency team), responds to the question:
‘There hasn’t been a wave of insolvencies, is business stress still there or are we through the worst of it?’
Please click here to listen to John’s answer.
When companies face cashflow and other pressures, early action can assist with the assessment and mitigation of these risks
Events since the start of the decade have brought accelerated and transformative change across the UK business landscape and economy. The way businesses, employers and employees work and how business growth is driven has changed and is changing profoundly.