The Insolvency Service (in reply to a letter from R3) has confirmed that it will be reframing its view of the term "creditor". This follows the cases last year of Pindar and Toogood where the court was asked to consider whether a paid secured creditor should have consented to an administration extension and therefore, in the absence of consent, whether the extensions were valid in both cases, the judges confirmed that the consent of paid secured creditors was not required.
Der Bundesgerichtshof (BGH) stellte mit Urteil vom 18. April 2024 (Az. IX ZR 129/22) erneut klar, dass externe Darlehensgeber wie Banken unter bestimmten Umständen insolvenzrechtlich wie Gesellschafter behandelt werden können – insbesondere dann, wenn ihnen durch vertragliche Regelungen wie Ergebnisbeteiligung und Investitionsvorbehalt eine mitgliedschaftsähnliche Stellung eingeräumt wird.
In its ruling of April 18, 2024 (case no. IX ZR 129/22), the Federal Court of Justice (BGH) once again clarified that external lenders such as banks can be treated as shareholders under insolvency law under certain circumstances – especially if they are granted a position similar to that of a member through contractual provisions such as profit participation and investment reservation.
A secured creditor with a hypothec (charge) over a specific immovable property can enforce against that property without having to put the debtor through a full-blown bankruptcy process. That was one of the key outcomes of the Royal Court's decision in Representation of Prospect Holdings Limited[2025] JRC 164.
What happened?
Introduction
In this first instalment of our insights series on construction insolvency, Ironbridge Legal outlines key red flags to look for and practical steps to manage counterparty risk.
An Industry at Risk - With Contagion Potential
On 12 June 2025, the Council of the EU announced that member states have agreed on a general approach to a directive aimed at bringing national insolvency standards closer together. This draft directive is designed to make the EU more attractive to foreign and cross-border investors by reducing the legal uncertainties and complexities associated with differing national insolvency laws.
The UK Supreme Court recently handed down a judgment in Tradition Financial Services Ltd v Bilta (UK) Ltd & Others[1] in which it considered the scope of section 213 of the Insolvency Act 1986, specifically whether those beyond the small group of individuals with controlling or m
Subchapter V of chapter 11 of the U.S. Bankruptcy Code provides a streamlined reorganization process for small business debtors. Similar to a normal chapter 11 case, subchapter V allows a debtor to cramdown a plan without the approval of the unsecured class as long as certain requirements are satisfied.
Asia-Pacific Restructuring Review 2025 Cryptoasset recovery and restructuring: lessons from the crypto winter in Singapore Asia-PaciRc Gestructuring Geview 2025 The Asia-PaciRc tesruncrnuigv tewie2 050C contains insight and thought leadership from 10 pre-eminent Asian .gures6 Across ,5 pagesv their articles comprise an inbaluayle retrospectibe on the jear kust gone6 All contriyutors are betted for their standing and wnoTledge yefore yeing inbited to tawe part6 Cogetherv thej capture and interpret the most suystantial legal and practice-related debelopments of the jear kust gonev complete Ti
The Protection of Employees (Employers’ Insolvency) (Amendment) Bill 2025 aims to provide greater protection to employees where their employer becomes insolvent. The Bill will allow greater access to a Social Insurance Fund to protect employee pay-related entitlements and claims for historic entitlements over the previous 40 years. The devil is in the detail, however, with very specific caps and limitations.