Through implementing the EU Restructuring Directive, German restructuring and insolvency law will be modernized, more effective, and enriched by new instruments.

Regierungsentwurf setzt EU Restrukturierungs-Richtlinie um und führt neues Sanierungsinstrumentarium ein.

Government draft of law implements EU Restructuring Framework, and introduces new restructuring instruments.

Successfully executing an acquisition from stress, distress, or insolvency requires a creative approach to reconcile competing interests.

Journal of Corporate Renewal 16 June 2022 EUROPEAN Restructuring Outlook: CONSIDERATIONS FOR LENDERS BY TAYYIBAH ARIF, COUNSEL & OLA MAJIYAGBE, ASSOCIATE, DECHERT LLP As Europe prepared to emerge from the COVID-19 pandemic and navigate the resultant uncertain economic environment, Russia invaded Ukraine in February 2022, plunging the continent into disarray once again. The unprecedented pandemic followed on the heels of Brexit, which itself will have lasting impact on the region.

On the 19th of August 2021, the English High Court sanctioned a Part 26A restructuring plan proposed by the administrators of Amicus Finance plc (in administration) (“Amicus”) for the company’s solvent exit from administration, enabling the company to be rescued as a going concern (the “Restructuring Plan”).

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Key Takeaways

Key Takeaways

In a decision widely anticipated by investors in emerging market and distressed debt, the Court of Appeal has upheld the decision of the High Court to refuse to grant an indefinite moratorium on claims under certain English law debts under the Cross Border Insolvency Rules (“CBIR”). In doing so, the Court of Appeal has reaffirmed a long-standing principle of English common law that provides important protection to creditors; known as the Rule in Gibbs, the rule provides that a debt may only be discharged according to its own governing law.