The opinion is In re Packet Construction, LLC, Case No. 23-10860 in the Western Texas Bankruptcy Court (issued April 30, 2024, Doc. 103).
Subchapter V Issue & Ruling
Here’s the issue raised by the Subchapter V Trustee’s plan objection and the Bankruptcy Court’s ruling thereon.
–Issue
In a long-running dispute arising out of a failure to supply gas, the English Commercial Court recently ordered that a prime London commercial property be transferred to the award creditor in part-satisfaction of a USD 2.6 billion arbitration award. In this article, we explore the case of Crescent Gas Corporation Ltd v National Iranian Oil Company & Anor [2024] EWHC 835 (Comm) and look at how the Insolvency Act was used to support enforcement of the award.
On April 23, 2024, the American Bankruptcy Institute’s Subchapter V Task Force issued its Final Report.
This article is the fourth in a series summarizing and condensing the Task Force’s Final Report into “a nutshell.” The subject of this article is:
第1 はじめに
本シリーズの最後となる今回は、撤退の場合における 解散・清算・破産について説明したい。前回記載した通 り、買主が見つかれば、持分譲渡手続が最も迅速かつ簡 便であるが、買主が見つからない場合には、解散・清算 か破産を選択することになる。
中国法人の資産が負債よりも多く、すべての債務を支 払うことができる場合には解散・清算手続が可能であ る。他方で債務超過になっている場合には、破産手続に よることになる。バランスシート上の資産が負債より多 い場合であっても、実際には資産価値が毀損している場 合があるため、解散・清算が可能かどうか予めシミュレ ーションしておく必要がある。
第2 解散・清算について
１ 解散・清算の概要
The Grand Court has allowed the appointment of a Provisional Liquidator under section 104(3) of the Companies Act (2023 Revision) (the Act) for the purpose of facilitating a restructuring, rather than using the tailor-made Restructuring Officer provisions under section 91(B) of the Act.
Background
The New York State Legislature recently proposed a bill, entitled the Sovereign Debt Stability Act, [1] intended to facilitate sovereign debt restructuring.
The creditors in the bankruptcy case of insurtech Vesttoo have filed a request with the court to allow them to conduct legal discovery on China Construction Bank (CCB), the main bank named in the letter of credit (LOC) reinsurance collateral fraud.
En los últimos años, sociedades y fondos han sido capaces de aumentar la rentabilidad de sus inversiones al implantar políticas ESG. Esta herramienta les ha permitido, no sólo una correcta mitigación de los riesgos, sino también aprovechar nuevas oportunidades, generar valor y mejorar la reputación corporativa, al mismo tiempo que contribuían al desarrollo sostenible y con impacto en la sociedad.
FOLLOWING OUR PREVIOUS ARTICLES ON THE QUALEX-LANDMARK TOWERS INC V 12-10 CAPITAL CORP CASE BEING HEARD IN THE ALBERTA COURTS, 12-10 CAPITAL CORP HAS NOW BEEN APPEALED SUCCESSFULLY IN THE COURT OF APPEAL OF ALBERTA, WHICH RELEASED IT’S DECISION EARLIER LAST MONTH. BEALE & CO PROVIDES AN UPDATE AND FURTHER COMMENTARY ON THE LATEST DEVELOPMENT OF THIS ENVIRONMENTAL CASE.