Avoidance actions are a household staple for insolvency administrators to increase the insolvency estate in Austria. The current European Commission’s Proposal for a Directive (COM (2022)702) now aims to harmonise contestation rights in insolvency across all European member states.
Key points
The English High Court decision of Hunt v Singh [2023] EWHC 1784 (Ch) has provided the most substantive authority on directors' duties to creditors since the decision of the Supreme Court in BTI 2014 LLC v Sequana SA and others [2022] UKSC 25 (“Sequana”). The case specifically considered the point at which a director’s duty to take into account the interests of creditors arises.
Whether you are starting a new venture, or you have been a company director for several years, you must understand your responsibilities.
Not complying with directors’ duties can lead to disqualification, financial penalties, and even imprisonment.
In this article, you will find the scope of directors’ duties, as set out in the Companies Act 2006 and other legislation such as the Health and Safety at Work Act 1974.
Following are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of January 15, 2024.
The Insolvency and Bankruptcy Code, 2016 (“IBC”) is silent on the treatment of a disputed or contingent claim, which is pending adjudication before a judicial or quasi-judicial body, giving rise to a contentious issue. The decision of the Hon’ble Supreme Court in Committee of Creditors of Essar Steel Limited v.
A look back at bankruptcy trends and litigation in 2023 reveals a spike in bankruptcy filings driven by economic factors and fallout from the pandemic while in upper courts several interesting cases were decided involving proofs of claim, stay violations, and discharge issues.
On 23 September 2023, the new Act on Preventive Restructuring (284/2003 Coll.) entered into effect in the Czech Republic (the “Czech Preventive Restructuring Act”), incorporating the EU Directive 2019/1023 on preventive restructuring frameworks in the Czech legal environment.
Hamilton Reserve Bank Ltd. v. Sri Lanka, No. 22-cv-5199 (S.D.N.Y. Nov. 1, 2023) [click for opinion]
Celsius creditors feeling the heat over preference claims