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    Restructuring: transferring company shares and temporal limits
    2024-06-27

    The Alita matter serves as a good illustration that if you intend to seek leave under section 444GA(1)(b) you should act swiftly and with regard to the potential regulatory risk.

    Filed under:
    Australia, Capital Markets, Company & Commercial, Insolvency & Restructuring, Litigation, Clayton Utz, Share (finance), Australian Securities and Investments Commission, Corporations Act 2001 (Australia)
    Authors:
    Alistair Fleming
    Location:
    Australia
    Firm:
    Clayton Utz
    Key Economic Data Report 2024
    2024-06-27

    The BRG Corporate Finance Key Economic Data Report reviews GDP and consumer confidence; inflation and real earnings; employment; housing; auto sales and production; retail sales; interest rates; high-yield index; bankruptcies; defaults; and commodity prices.

    Read the reports from 2024:

    Filed under:
    European Union, United Kingdom, USA, Company & Commercial, Employment & Labor, Insolvency & Restructuring, Real Estate, Tax, Berkeley Research Group, LLC
    Location:
    European Union, United Kingdom, USA
    Firm:
    Berkeley Research Group, LLC
    Unpacking Directors’ Duties to Creditors: A Close Look at the OP3 International Decision
    2024-06-27

    The Court of Appeal has, in Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10 (OP3 International), comprehensively considered the contours of a director’s duty to consider the interest of creditors in certain circumstances (Creditor Duty). In this important decision, the apex court examined when the Creditor Duty first becomes engaged as well as the nature, scope and content of the duty.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, WongPartnership – Restructuring & Insolvency, UK Supreme Court
    Authors:
    Lionel Leo , Joel Chng , Stephanie Yeo , Tan Kai Yun , Joy TAN , Kevin HO
    Location:
    United Kingdom
    Firm:
    WongPartnership – Restructuring & Insolvency
    Wetsvoorstel overgang van onderneming in faillissement
    2024-06-28

    Op 27 mei 2024 is het Wetsvoorstel overgang van onderneming in faillissement in internetconsultatie gegaan (de WOVOF). De WOVOF beoogt de werknemersbescherming bij faillissement te vergroten, met name in geval van een doorstart. De WOVOF introduceert onder andere een verplichting voor de doorstarter om (in beginsel) alle werknemers uit de failliete onderneming over te nemen. Deze en andere maatregelen worden in dit nieuwsbericht nader toegelicht. 

    Huidige regeling en aanleiding WOVOF

    Filed under:
    Netherlands, Company & Commercial, Insolvency & Restructuring, Loyens & Loeff
    Authors:
    Kayleigh Bemelmans , Roos Veldkamp
    Location:
    Netherlands
    Firm:
    Loyens & Loeff
    Directors’ duties - Court makes substantial wrongful trading and misfeasance award against former directors
    2024-06-28

    Seven years after the British Home Stores Group Limited, a well known high street retailer, and its operating subsidiaries entered liquidation, the High Court has found two former directors liable for wrongful trading and misfeasance.

    Background

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Companies Act 2006 (UK), Insolvency Act 1986 (UK)
    Authors:
    Sarah Hawes , Shaun Lee , James Palmer
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    Corporate Law Update: 22 - 28 June 2024
    2024-07-01

    This week:

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Macfarlanes LLP, Companies Act 2006 (UK)
    Authors:
    Richard Burrows , Dominic Sedghi
    Location:
    United Kingdom
    Firm:
    Macfarlanes LLP
    Píldoras Concursales Junio
    2024-07-01

    1. Introducción

    Este mes son prominentes los autos de homologación de planes de restructuración (en su mayoría no consensuales) que seguimos viendo. En ese mismo campo destacamos la desestimación de la impugnación del ya famoso plan de Torrejón Salud (plan con una única clase) que se ha instaurado como un "leading case" en la práctica. Los recurrentes son condenados en costas.

    Todo esto y más resúmenes de resoluciones que nos han parecido interesantes a continuación.

    2. Audiencias Provinciales

    Filed under:
    Spain, Company & Commercial, Insolvency & Restructuring, Litigation, Ashurst
    Authors:
    Jorge Vazquez , Jose Christian Bertram , José Antonio Rodríguez , José Ramón Casado
    Location:
    Spain
    Firm:
    Ashurst
    Companies Act 2014: Changes to Test for Reckless Trading Take Effect
    2024-07-02

    The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 has been commenced with effect from 1 July 2024.

    Filed under:
    Ireland, Company & Commercial, Insolvency & Restructuring, Arthur Cox LLP
    Authors:
    Aisling Carey , Suzanne Kearney , Daibhi-OLeary
    Location:
    Ireland
    Firm:
    Arthur Cox LLP
    Intermeddling: Director was misusing company assets after ceasing to be a director
    2024-07-01

    Overview

    The scope and extent of a director's duty is of particular interest to officeholders of companies and their D&O insurers.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, DAC Beachcroft, Liquidation, Insolvency Service (UK), UK Supreme Court
    Authors:
    Emma Murphy-O’Connor , William Naylor
    Location:
    United Kingdom
    Firm:
    DAC Beachcroft
    北京西城法院最新案例:债权人在执行程序中主张股东出资义务加速到期获支持
    2024-07-04

    引言

    在新《公司法》实施的第一天,即2024年7月1日,北京市西城区人民法院微信公众号发布了其审结的首例适用新《公司法》第54条规定的加速到期规则的案件。

    在该案中,经债权人申请,西城法院在执行程序中追加案涉公司的股东张某为被执行人。进而,西城法院根据新《公司法》第54条,对案涉公司股东张某适用加速到期规则,判决其履行提前缴纳出资的债务,在其未出资的范围内向债权人承担补充赔偿责任。

    一、西城法院案例简析[1]

    (一)案情概要

    李某系案涉公司的前员工。因该公司拖欠工资,李某提起劳动仲裁。经仲裁委调解,双方达成调解协议,约定:公司应于2023年4月底前支付拖欠李某的工资70,000余元。随后,仲裁委据此出具了《调解书》。

    因该公司未履行《调解书》项下的付款义务,李某以该公司为被执行人向西城法院提出强制执行申请。由于该公司名下没有可供执行的财产,西城法院裁定终结本次执行程序。

    Filed under:
    China, Company & Commercial, Insolvency & Restructuring, Litigation, King & Wood Mallesons, Enterprise Bankruptcy Law 2006 (China)
    Authors:
    Xu Xiaodan , Li Feng , Wu Han
    Location:
    China
    Firm:
    King & Wood Mallesons

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