License purchases can be excluded from the insolvency administrator’s right to reject or assume contracts
Restructurings are all about alternatives. It is one thing for a creditor to hold an instrument that entitles it to payment of $X on Y date. But if the debtor does not have the cash to satisfy the obligation when due, some type of restructuring must occur.
Significant developments have taken place in the Spanish insolvency legal framework during 2014, focusing mainly on these areas:
Following a lengthy process which started in 2012 aiming to reform the Romanian insolvency framework as part of a wider judicial reformation program, the New Insolvency Law (Law no. 85/2014 regarding the prevention of insolvency and the insolvency proceedings) entered into force on 28 July 2014.
On October 28th, 2013 the Ministry of the Environment (“MOE”) and the former directors and officers of Northstar Aerospace Canada (“Northstar”) reached a $4.75 million settlement for the remediation of a property owned by Northstar in Cambridge, Ontario.
Winter is here, with the attendant risk of another major weather event impacting the energy production industry, and, specifically, the wind power generation industry in Texas. Last year, Winter Storm Uri significantly disrupted the Texas power grid and forced several energy originators, distributors, and buyers to consider restructuring alternatives.
The UK Restructuring Plan took its first foray down the well-trodden path of lease restructuring over the last week. The Restructuring Plan has been used through to court sanction in five cases so far: however, none has sought to compromise landlord claims, the preferred tool for which has until now been the CVA.
COVID-19 and real estate: Germany’s economic situation and the legal framework from a real estate and restructuring perspective.
The Companies (Miscellaneous Provisions) (COVID-19) Act 2020 (the Act) was passed by the Dáil on 30 July 2020 and, once commenced, will make temporary amendments to, inter alia, the Companies Act 2014 (the Companies Act) in order to address certain operational challenges that COVID-19 has presented to Irish companies.
In many bankruptcy cases, disappointing recoveries lead creditors to look for deep pockets as targets. This scrutiny is frequently directed at a bankrupt company’s directors and officers (D&Os or fiduciaries) in so-called D&O suits. These lawsuits are most often brought by bankruptcy trustees, creditors’ committees, liquidating trusts, and other bankruptcy estate representatives.