The Federal Court decision of Copeland in his capacity as liquidator of Skyworkers Pty limited (in Liquidation) (Skyworkers) v Murace [2023] FCA 14 stresses the importance of liquidators adequately particularising claims in a Statement of Claim (SOC). In particular, the liquidator in this case was unable to identify the specific dates that the debts were incurred and how these debts arose.
摘 要
从法律性质上看，管理人在破产程序中可行使的撤销权分为两类，其一是根据企业破产法第31条规定，对于欺诈行为的撤销；其二是根据企业破产法第32条规定，对于在破产程序开始前六个月内个别清偿行为的撤销。出于平衡全体债权人与个别债权人之间的利益冲突，第32条以但书形式规定了“个别清偿使债务人财产受益的除外”之个别清偿撤销例外，以避免个别清偿撤销权的滥用。但管理人与债权人常常产生冲突，管理人往往通过撤销权诉讼在依法履行勤勉义务的同时谋求可分配财产的最大化，债权人则常以个别清偿撤销例外作为抗辩理由以避免交易回转。由于我国现行法律是通过“列举+兜底”的模式对个别清偿撤销例外进行规定，因此对于个别清偿撤销例外的边界并不清晰，需要通过梳理部分司法裁判观点，为厘清个别清偿撤销例外的边界提供一些思考。
关键词：
企业破产法 撤销权 管理人 破产程序
民法典 个别清偿
This article was first published in December 2023 by Law360.
English schemes of arrangement have long been used to restructure the debts of both English and foreign companies. This has made the UK a center of cross-border restructurings.
The scheme's more powerful cousin, the restructuring plan, with its ability to cram down entire classes of dissenting creditors, has bolstered the UK's position in the global restructuring market.
Every now and then, a bankruptcy ruling elicits an “Oh, no!” response from just about everyone.
And then, subsequent case law starts rejecting and/or chipping-away at that “On, no!” ruling.
We have such an “Oh, no!” situation going on right now on a Subchapter V debt-limit issue.
New Rejecting/Chipping-Away Opinion
We have previously blogged about the section 546(e) defense to a trustee’s avoidance powers under the Bankruptcy Code. A trustee has broad powers to set aside certain transfers made by debtors before bankruptcy. See 11 U.S.C. §§ 544, 547, 548. Section 546(e), however, bars avoiding certain transfers, including a “settlement payment . . . made by or to (or for the benefit of) . . . a financial institution [or] a transfer made by or to (or for the benefit of) a . . . financial institution . . . in connection with a securities contract.” 11 U.S.C. § 546(e).
“金融机构债权人委员会”（简称“金融债委会”）是协商性、自律性、临时性组织，按照市场化、法治化、公平公正、分类施策的原则，依法维护金融机构作为债权人的合法权益。金融债委会可以按照“一企一策”的方针，集体研究增加融资、稳定融资、减少融资、重组等措施，确保债权金融机构形成合力，稳妥化解风险。
在我国经济处于下行期的大环境之下，各地大型民营企业频繁陷入债务危机，越来越多困境企业在庭外债务重组中使用金融债委会机制作为企业和债权人之间沟通的“黏合剂”、债务危机化解的“催化剂”以及与庭内司法重整或和解程序衔接的“融合剂”，由金融债委会主导庭外债务重组程序有效推进，如东旭集团等。本文意在对当前金融债委会机制的制度背景、发展现状、实践中的运行机制、存在的问题及解决方案等方面进行深入分析。
一、金融债委会国内外发展概况及制度优势
（一）国内外金融债委会制度发展概况
1、国外金融债委会制度发展概况
The Supreme Court of India (Supreme Court) in State Tax Officer v Rainbow Papers Limited (Rainbow Papers Judgment) held that a statutory authority, in whose favor a charge is created under a statute, would be treated as a secured creditor under the Insolvency and Bankruptcy Code 2016 (IBC). The Rainbow Papers Judgment was distinguished by the Supreme Court in Paschimanchal Vidyut Vitran Nigam Limited v Raman Ispat Private Limited2 (PVVNL Judgment).
Go-To Guide:
Election of Joe Graham to Partner
Joe Graham was elected partner in the New York office. This year, Joe played a leading role in the chapter 11 cases of Avaya, Benefytt and Diamond Sports. He regularly advises on out-of-court restructurings, bankruptcy litigation and distressed investments. Joe earned his J.D., magna cum laude, and his B.A. from the University of Notre Dame.
Kelley Cornish Inducted into “M&A Advisor Hall of Fame”
Executive summary
A recent decision of the High Court sanctioned restructuring schemes for two companies in the Solar 21 renewable energy investment group showing once again effective and efficient restructuring tools available in Ireland for companies in need. Below we discuss the main features of the Judgment and the criteria required to be met in order for the schemes to be legally binding and effective pursuant to Part 9 of the Companies Act 2014 (as amended) (the Act).
What is a Part 9 Scheme of Arrangement?