Twenty years after Noble Energy, Inc. acquired assets from the bankruptcy estate of Alma Energy Corp., ConocoPhillips, Co. asserted a US$63 million claim against Noble regarding the acquisition.

There have been a number of smoke signals in the last few months around the increase of consumer debt in the UK and a focus on those firms providing consumer credit across the credit spectrum but particularly in the "sub-prime" or "near-prime" space.

Since the credit crunch, a number of consumer credit businesses have stepped in to fill a gap in the lending market. They give sub-prime or near-prime borrowers, who may find it difficult to obtain credit from traditional sources, with high-cost, short-term credit - instant access to funds.

In 2016 the High Court considered the validity of an assignment of a lease by a tenant to its guarantor. The antiavoidance provisions in section 25 of the Landlord and Tenant (Covenants) Act 1995 ("1995 Act") strictly limit the freedom of contract of parties to leases governed by that Act, broadly, those granted after 1995. Agreements which frustrate those provisions are void even if they are commercially justifiable.

BRIEF FACTS AND DECISION

EMI Group Limited v O&H Q1 Limited [2016] EWHC 529 (Ch)

Az ENEFI és a román adóhatóság közötti jogvitában az eljáró bíróság előzetes döntéshozatali kérelemmel fordult az Európai Unió Bíróságához, melyben az uniós jog értelmezését kérte a magyarországi fizetésképtelenségi eljárás romániai joghatásával kapcsolatban. Korábbi blogbejegyzésünkben beszámoltunk az ENEFI és a romániai adóhatóság közötti jogvitában 2016.

The issuance of international bond debt, aka high yield notes, has been a very popular financing option for French companies for the last few years, whether it was to finance their industrial investments or to fund an LBO transaction.

The European Council Regulation No 1346/2000 on insolvency proceedings (the Regulation) was adopted in May 2000 and came into force on 31 May 2002 in order to establish a European framework for cross-border insolvency proceedings.

The Regulation regulates: the jurisdiction for opening insolvency proceedings; recognition and enforcement of judgments for the opening of insolvency proceedings; the laws applicable to insolvency proceedings and their scope of applicability; and cooperation in a cross-border insolvency context.

Protecting your business from your customer’s insolvency

In the second article in our series on risk and opportunity in the fashion retail sector, Rob Russell and Peter Manley assess one of the most prominent areas of risk for suppliers − the insolvency of a trade customer/ retailer.

In the Q1 2014 edition of Global Insight, we discussed the progress already made in respect of the Proposed Amendments to the EC Insolvency Regulation as of April 2014. The European Parliament and the Council of the European Union have now considered the Commission’s proposed amendments.

In this article we will continue to focus on the progress made regarding:

A recent Federal Court of Australia decision has granted the Australian Commissioner of Taxation the right to recover, from a failed foreign company’s Australian assets, the pari passu amount the Commissioner would have been entitled to receive (on account of outstanding domestic tax and penalties) if he had been allowed to prove in the liquidation before the assets are remitted to the company’s foreign representatives (the liquidators). 

A recent decision of the Alberta Queen’s Bench1 has raised some questions about purchase-money security interest (“PMSI”) proceeds and cross-collateralization of assets secured by these types of security interests. It has been suggested that this decision is unique and establishes that using a PMSI as collateral for other indebtedness of the debtor is dangerous. But is this decision really so radical?

Facts: