More Australian businesses in financial difficulty are embracing a ‘turnaround’ culture, but further structural reforms are needed to shift attitudes towards the use of turnaround professionals, according to Clayton Utz Restructuring & Insolvency partner, Cameron Belyea.
The Secretary of State for Business, Energy and Industrial Strategy (SoS) presented winding up petitions against Fabcourt Developments Limited, Clarkson Murphy Partners Limited, Hall Contracting Services Limited and Sentor Solutions Commercial Ltd (the Companies).
The SoS may present a petition for a company to be wound up where it appears that it is expedient in the public interest and if the court thinks it just and equitable to do so.
Background
This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. The message from the case to would-be claimants in other cases is simple: do not “overreach.”In re U Lock, Inc., Case No. 22-20823, 2023 WL 308210, at *1 (Bankr. W.D. Pa. Jan. 17, 2023).
The Supreme Court’s recent judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 is a significant decision for the law of directors’ duties.
A new bill, which the UK Government introduced to Parliament on 12 May 2021, seeks to extend the existing directors’ disqualification regime to the directors of dissolved companies.
The Hong Kong Court of Final Appeal (the “CFA“) has clarified in a recent judgment the application of section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (“CWUMPO“) and when the court will grant a validation order.
The following company law cases have been reported in CCH Pinpoint:
Insolvency: nunc pro tunc orders made for liquidators of corporate trustee
In the recent decision of Badendoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in Liquidation) (receivers and managers appointed) [2021] FCAFC 64 (Badendoch) the Full Court of the Federal Court of Australia effectively abolished the “peak indebtedness” rule for liquidators pursuing unfair preference claims.
On 1 January 2021, the German Act on Stabilization and Restructuring Framework for Business (StaRUG) came in to force as part of the German Act on Further Development of Restructuring and Insolvency Law (SanInsFoG). It contains several new pre-insolvency restructuring procedures, including a new preventive restructuring plan and corresponding protection of minority creditors.
What is the aim of the new preventive restructuring plan?
In this issue:
Welcome to our corporate and commercial disputes update, a new bi-annual publication in which we summarise some of the most significant cases over the last six months or so in the corporate and commercial dispute resolution market: