Skip to main content
Home
Enter a keyword

Main navigation

Menu
  • US Law
  • Regions
    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America
  • Headlines
  • Education Resources
    • ABI Committee Articles
    • ABI Journal Articles
    • Covid 19
    • Conferences and Webinars
    • Newsletters
    • Publications
  • Firm Articles
  • About Us
    • ABI International Board Committee
    • ABI International Member Committee Leadership
  • Join ABI

A mixed bag for liquidators in High Court decisions on claims of unfair preference or other voidable transactions
2023-02-09

Insolvency practitioners and creditors facing voidable transaction claims will need to reassess the value of any potential or threatened unfair preference claims or other voidable transaction claims, following two important insolvency decisions in the High Court yesterday (Metal Manufactures Pty Limited v Morton [2023] HCA 1 (Metal Manufactures); Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2 (Badenoch).

It held that:

Filed under:
Australia, Company & Commercial, Insolvency & Restructuring, Litigation, Clayton Utz, Debt, Insolvency, Corporations Act 2001 (Australia)
Authors:
Timothy Sackar , Jennifer Ball , Cameron Belyea , Zac Chami , Brett Cook , Alistair Fleming , Paul James , Gareth Jenkins , Orla McCoy , Karen O'Flynn , Nick Poole , Scott Sharry
Location:
Australia
Firm:
Clayton Utz
View Original Article
Set-off under the UAE Insolvency Law, May 2017
2017-05-24

The new United Arab Emirates (UAE) Insolvency Law (Federal Law No.9 of 2016) (Insolvency Law) was published in the UAE Gazette on 29 September 2016 and came in to force three months later on 29 December 2016. The Insolvency Law is a federal law that applies to all seven emirates comprising the UAE. The initial view from market participants is that by replacing the old insolvency law, which placed a greater emphasis on creditor protections and formal bankruptcy proceedings alongside criminal penalties, the Insolvency Law is an overdue but welcome development.

Filed under:
United Arab Emirates, Insolvency & Restructuring, HFW, Debt, Liquidation
Location:
United Arab Emirates
Firm:
HFW
View Original Article
Declaring a Debtor Bankrupt in the UAE
2016-08-24

A declaration of bankruptcy, according to Article 645 of the Commercial Transactions Law, can be imposed on any trader who ceases to pay some or all of its commercial debts. While a debtor’s cessation of payment is a presumption against him, the trader might not be considered bankrupt if the failure to pay is due to a dispute regarding the debt. In other words, it is important to prove that the debtor ceased to pay a certain commercial debt due to financial distress and credit issues.

Filed under:
United Arab Emirates, Insolvency & Restructuring, Litigation, Al Tamimi & Company, Bankruptcy, Costs in English law, Credit (finance), Debtor, Res judicata and issue estoppel, Debt, Default (finance)
Location:
United Arab Emirates
Firm:
Al Tamimi & Company
View Original Article
Changes Expected to the Saudi Arabian Bankruptcy Law
2016-07-31

The proposed changes to the Saudi Arabian bankruptcy regime will provide the judiciary the right to obligate creditors to accept a settlement proposed by the debtor (the “new Law”).

The Ministry of Commerce and Investment is currently in the latter stages of reforming the Kingdom’s bankruptcy laws and regulations. The new Law is intended to replace certain sections in the Commercial Court Law and the Bankruptcy Protecting Settlement Law dealing with bankruptcy.

Filed under:
United Arab Emirates, Banking, Insolvency & Restructuring, Al Tamimi & Company, Bankruptcy, Debtor, Debt, Mortgage loan, Liquidation, Default (finance), Commercial Court (England and Wales)
Location:
United Arab Emirates
Firm:
Al Tamimi & Company
View Original Article
An Overview of the UAE Insolvency Regime and its Effectiveness
2016-07-25

In these challenging economic times, some businesses are struggling to cope with financial pressures and financiers are concerned with their customers’ ability to service their financing arrangements. An effective insolvency regime is, therefore, an important element of financial system stability. The statutory insolvency regime in the United Arab Emirates (“UAE”) has often been regarded as under-developed and remains largely untested.

Filed under:
United Arab Emirates, Company & Commercial, Insolvency & Restructuring, Litigation, Al Tamimi & Company, Bankruptcy, Debtor, Debt, Economy
Authors:
Renata Rai
Location:
United Arab Emirates
Firm:
Al Tamimi & Company
View Original Article
Dubai World restructuring subject to special purpose government decree
2009-12-23

Dubai's announcement on 25 November 2009 that it would seek a standstill (the "Standstill Announcement") on the debt of Dubai World, a Government of Dubai holding company, whose principal business activities include the master developers Nakheel and Limitless, port operator DP World, and investment house Istithmar, caused a considerable impact across world markets and widespread comment amongst the world media.

Following the Standstill Announcement a number of significant events and further announcements have taken place, principal amongst these have been:

Filed under:
United Arab Emirates, Insolvency & Restructuring, Bracewell LLP, Injunction, Debt, Common law, Dubai International Financial Centre, High Court judge (England and Wales)
Location:
United Arab Emirates
Firm:
Bracewell LLP
View Original Article
Insolvency in the Cayman Islands setting aside antecedent transactions
2017-07-25

In certain circumstances the official liquidator of a Cayman company may be able to take action to recover assets which have been transferred in the run up to the company's insolvency. It is important for those concerned with the affairs of a Cayman company in the twilight of insolvency to be aware of the statutory powers available to the official liquidator and the Grand Court in the Cayman Islands.

Voidable preferences

Filed under:
Cayman Islands, Insolvency & Restructuring, White Collar Crime, Loeb Smith Attorneys, Fraud, Debt, Liquidation, Liquidator (law)
Authors:
Gary Smith
Location:
Cayman Islands
Firm:
Loeb Smith Attorneys
View Original Article
Spanish Corporate-Real Estate Legal Update nº 31. July 2016: Determination of the Moment at Which Director Liability Arises for Corporate Debts in the Event of Company Insolvency
2016-07-06

Supreme Court Judgment dated 10 March 2016 (STS 151/2016)

The judgment of the Supreme Court analyses the objective scope of extension of the liability for obligations and debts for which, as appropriate, the director of a company should be liable and, more specifically, the scope of "the corporate obligations subsequent to the occurrence of the legal ground for dissolution".

Filed under:
Spain, Company & Commercial, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Patent infringement, Interest, Consideration, Debt, Court costs, Joint and several liability, Capital punishment, Dissolution (law), SCOTUS, Court of Appeal of England & Wales, South Africa Supreme Court of Appeal
Authors:
Ramón Castilla
Location:
Spain
Firm:
Squire Patton Boggs
View Original Article
Second Circuit disapproves "gifting" plan and designates strategic investor’s vote as lacking good faith
2011-02-10

On February 7, 2011, the Court of Appeals for the Second Circuit issued a highly significant opinion in two consolidated appeals from the order of the United States District Court for the Southern District of New York affirming the bankruptcy court’s confirmation of a chapter 11 plan of reorganization for DBSD North America and its subsidiaries (DBSD).

Filed under:
USA, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Shareholder, Debtor, Unsecured debt, Debt, Good faith, Dissenting opinion, Balance sheet, Unsecured creditor, Leverage (finance), Warrant (finance), Sprint Corporation, Dish Network, Second Circuit, United States bankruptcy court
Authors:
Jeffrey A. Marks , Sandra E. Mayerson , Peter A. Zisser
Location:
USA
Firm:
Squire Patton Boggs
View Original Article
Prescribed part and security holders
2008-07-25

One of the significant changes to distributions in insolvency made by the Enterprise Act 2002 was the abolition of the preferential status of debts owed to the Crown and the introduction of a provision for the creation of a ‘ring-fenced fund’ (also known as the “prescribed part”, an amount currently capped at £600,000) from the proceeds of floating charges created after 15 September 2003 to be applied in distribution to unsecured creditors.

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Share (finance), Unsecured debt, Debt, Liquidation, Secured creditor, Liquidator (law), Unsecured creditor, Insolvency Act 1986 (UK), Enterprise Act 2002 (UK), High Court of Justice
Location:
United Kingdom
Firm:
Squire Patton Boggs
View Original Article

Pagination

  • Current page 1
  • Page 2
  • Page 3
  • Page 4
  • Page 5
  • Page 6
  • Page 7
  • Page 8
  • Page 9
  • …
  • Next page ››
  • Last page Last »

Footer menu

  • Publications
  • Newsletters
  • ABI International Board Committee

© 2022 Global Insolvency, All Rights Reserved