Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • 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
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Points to learn from The High Court’s decision in the Great Annual Savings Company restructuring plan
    2023-05-18

    The recent sanction judgment gives important guidance on the way in which the court's discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own .

    Key takeaways from the judgment

    No worse off test: expert evidence

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Shoosmiths LLP, HM Revenue and Customs (UK)
    Authors:
    Aaron Harlow , Lizzy Wood , Hayley Çapani
    Location:
    United Kingdom
    Firm:
    Shoosmiths LLP
    (UK) Avanti: The Evolution of a Spectrum - from Fixed to Floating Charge, who Needs Control?
    2023-05-11

    In a decision likely to be welcomed by both debtors and lenders, the High Court has held that a charge granted by Avanti Communications Limited (“Avanti”) was properly characterised as a fixed charge (rather than a floating charge) notwithstanding that the chargor retained an element of control over the charged assets. A key plank of the decision was that the relevant assets were not ‘fluctuating assets’ or ‘stock in trade’ that the chargor might be expected to dispose of in the ordinary course of its business.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Squire Patton Boggs, HM Revenue and Customs (UK), House of Lords, Office of Communications (UK)
    Authors:
    Helena Clarke
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    Corporate insolvencies on the rise: businesses still facing challenges post-Covid
    2023-05-12

    Businesses are still struggling to recover post-Covid, with corporate insolvency figures continuing to rise. Recent research shows that the most common company insolvency procedure is creditors’ voluntary liquidation (CVL) and in March 2023, there was the highest monthly total of CVLs since January 2019.

    The sectors that appear to have been hit the hardest are construction; wholesale and retail; accommodation and food services.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Tax, Keystone Law, Supply chain, Coronavirus, Insolvency, HM Revenue and Customs (UK)
    Authors:
    Aman Sehgal
    Location:
    United Kingdom
    Firm:
    Keystone Law
    Nasmyth Group Ltd
    2023-05-10

    Re Nasmyth Group Ltd (Re Companies Act 2006) [2023] EWHC 988 (Ch) sets out Leech J’s reasons for refusing to sanction a Part 26A restructuring plan.

    The company acted as the holding company of engineering subsidiaries in the UK and elsewhere and provided administrative and treasury functions to the rest of the group.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Wedlake Bell, HM Revenue and Customs (UK)
    Authors:
    Ian Rees
    Location:
    United Kingdom
    Firm:
    Wedlake Bell
    Fixed or floating? The English High Court considers the nature of security granted by Avanti
    2023-05-10

    The administrators of Avanti Communications Limited (the “Company”) sought directions from the High Court as to whether purported fixed charges in favour of the secured lenders to the satellite operating business should be recharacterised as floating charges (In the matter of Avanti Communications Limited (In administration) [2023] EWHC 940 (Ch)).

    Summary of decision

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Hogan Lovells, HM Revenue and Customs (UK), Office of Communications (UK)
    Authors:
    Charlotte Lamb , Margaret Kemp , Susan Whitehead
    Location:
    United Kingdom
    Firm:
    Hogan Lovells
    Pre-Pack Regulation: Two Years On
    2023-05-10

    It is now two years since the 30 April 2021 introduction of the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (the "Regulations") and a good time to look back at whether the Regulations have achieved their purpose, what issues remain and what the next two years might look like.

    Summary

    Filed under:
    United Kingdom, Insolvency & Restructuring, Tax, Katten Muchin Rosenman LLP, HM Revenue and Customs (UK)
    Authors:
    Sonya Van de Graaff , Prav Reddy , Mark Johnson , Dominique Hodgson
    Location:
    United Kingdom
    Firm:
    Katten Muchin Rosenman LLP
    HMRC successfully opposes restructuring plan amid concern over being routinely crammed down
    2023-05-04

    The High Court refused to sanction the restructuring plan put forward by Nasmyth Group Limited (Nasmyth) pursuant to Part 26A of the Companies Act 2006 on 28 April 2023, despite both statutory conditions for cross-class cram down having been met.

    Meanwhile, judgment is awaited in respect of the restructuring plan put forward by The Great Annual Savings Company Limited (GAS), which was proceeding simultaneously to Nasmyth and which also seeks to cram down HMRC.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Tax, Freshfields Bruckhaus Deringer, Supply chain, HM Revenue and Customs (UK)
    Location:
    United Kingdom
    Firm:
    Freshfields Bruckhaus Deringer
    If a Business Is Facing Distress, What Options Are There?
    2023-05-04

    There are a number of options and avenues that a company can explore when faced with business stress or distress. Depending on the circumstances, a combination of these could be appropriate to help mitigate or avoid a business failing.

    This guide provides an overview of potential options and should be considered alongside specific advice from the company's advisors.

    Informal Options

    Even when informal options are being considered, directors should engage with their advisors and stakeholders to ensure that their decisions take into account their directors' duties.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Squire Patton Boggs, Private equity, Supply chain, HM Revenue and Customs (UK)
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    London as a European restructuring forum reigns supreme
    2023-04-28

    German real estate group restructuring plan sanctioned in London

    Having failed to get its restructuring solution through in its home jurisdiction, beleaguered German real estate group, Adler, turned to London. After substituting a UK plc as issuer of six series of notes in order to propose an English restructuring plan, and in the face of fierce opposition from an ad hoc committee of 2029 noteholders (AHG), the group successfully forced the plan through just in time.

    Filed under:
    European Union, United Kingdom, Insolvency & Restructuring, Litigation, Ashurst, Corporate governance, HM Revenue and Customs (UK)
    Authors:
    Olga Galazoula , Ru-Woei Foong , Inga West , Drew Sainsbury , Richard Bulmore , Alexander Ballmann , Karsten Raupach
    Location:
    European Union, United Kingdom
    Firm:
    Ashurst
    (UK) The Gloves are on for HMRC: What did we learn from the Great Annual Savings Sanction Hearing?
    2023-04-26

    Yesterday saw the end of a three-day sanction hearing for the restructuring plan (the “Plan”) of the Great Annual Savings (GAS) company, with Justice Adam Johnson reserving his judgment and importantly, his decision on whether to exercise cross-class-cram-down to sanction the Plan for a later date.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Squire Patton Boggs, HM Revenue and Customs (UK)
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 7
    • Page 8
    • Page 9
    • Page 10
    • Current page 11
    • Page 12
    • Page 13
    • Page 14
    • Page 15
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days