The value of a business’ intangible assets and intellectual property (IP) is key to its ability to support revenues through sales of products/services, franchising, licensing, or through attracting investment and fundraising activities.

The Australian government has taken swift action to enact new legislation that significantly changes the insolvency laws relevant to all business as a result of the ongoing developments related to COVID

The Part 26A Restructuring Plans (the "Plans") proposed by each of Virgin Active Holdings, Virgin Active Limited and Virgin Active Health Clubs Limited (the "Plan Companies") have been sanctioned by the court. This decision has been eagerly anticipated by the restructuring and insolvency market, struggling tenants and the beleaguered landlord community.

We summarise the background and outcomes of Case C-73/20 – Oeltrans, an important ruling for liquidators faced with the avoidance of a third party payment and a conflict of laws.

The facts

Avec plus d’un an de recul depuis leur mise en place, on s’aperçoit aujourd’hui que la multiplication des régimes d’aides liées à la pandémie de COVID-19 crée différents problèmes juridiques tout à fait inattendus. Nous en livrons ici un bref aperçu qui est ni exhaustif ni définitif.

L’obligation de remboursement des primes dans certains cas : un potentiel fardeau en cas de faillite

Swissport Belgium, one of the two licensed ground handling service providers at Brussels Airport, was declared bankrupt in June 2020, three months after the airport's operations were interrupted due to measures adopted by the Belgian government to limit the spread of COVID-19. Nearly 1,500 workers lost their jobs.

In order to support these workers, Belgium applied for assistance from the European Globalisation Adjustment Fund (EGF) to help these redundant workers back into employment (especially those with no professional qualifications or with a low level of education).

Dear Clients and Friends,

In 2020, domestic and international energy markets were challenged by a worldwide pandemic and its effect on commodity prices, which accelerated disruptions in supply chains and impacted the energy transition in countries around the world.

On 26 March 2021, Mr Justice Zacaroli of the English High Court sanctioned a restructuring plan (the Plan) proposed by gategroup Guarantee Limited (Gategroup), following approval at two creditors' meetings convened pursuant to a judgment handed down by Mr Justice Zacaroli on 17 February 2021.

Almost a year has now passed since the Corporate Insolvency and Governance Act 2020 (CIGA) first entered force on 26 June 2020. According to the Explanatory Notes that accompanied CIGA, “the overarching objective of [the Act] is to provide businesses with the flexibility and breathing space they need to continue trading during this difficult time”. To this end, CIGA introduces a number of permanent and temporary amendments to the UK’s insolvency landscape which are aimed at ensuring businesses can maximise their chances of survival against the backdrop of the COVID-19 pandemic. 

Christopher Loxton has written an article on the mutual recognition and enforcement of insolvencies in the EU post-Brexit.