Most landlords seek advice prior to entering a commercial lease.

But, as the cautionary tales in this article suggest, if the tenant goes into administration or liquidation, landlords would be wise to seek specialist advice. The lesson is simple: a landlord should not lightly assume that the appointment of an administrator or liquidator implies the end of the lease or a right to re-enter the premises.

The restructuring of Casino Group, one of France's top 6 retailers, is at the point of reaching a favourable outcome. An agreement is expected at the end of July 2023. The commonalities between the restructuring of Casino and Orpéa are the preservation of secured debt, the conversion of unsecured debt into capital, asset disposals and, of course, a significant injection of new money.

“Were Congress to . . . intervene and expand § 524(g) beyond asbestos cases, bankruptcy would become a more suitable alternative for resolving mass tort cases. Until then, such cases will likely remain problematic under the Code in the face of creditor opposition.”

When feeling a little lost, stressed or fearful about life its fairly natural to gravitate towards things that give us a sense of ease (dopamine), control, distraction and worth. I used to find these escapes in in alcohol, and then food, and from time to time I still do in shopping to the detriment of my mental health.

But all things in moderation as they say, and I would argue there is actually meaning in some material things that give us a sense of remembrance or comfort. Hard work should be rewarded and this is often a nice way to do so.

Global political crises, volatile interests, inflation and supply chain issues challenge many companies. In this blog series, VISCHER's restructuring & insolvency team will show how companies can navigate through these challenges. Here you will find answers to the most important questions regarding the duties of a director of a Swiss subsidiary.

1. What is the group dilemma and what interests must a Swiss subsidiary's board safeguard?

In a decision likely to have a knock-on effect for future fraudulent transfer defense and valuation litigation, the Delaware bankruptcy court recently ruled that the price agreed in the sale of an oil and gas company closed by market participants represents the reasonably equivalent value for the assets being sold and is more reliable evidence of value than expert testimony prepared for the purposes of litigation.

Amendments to the Malaysian Insolvency Act 1967 were passed by the Dewan Rakyat on 24 May 2023. 

A few key points arising from the amendments are:

1. Sub-section 33B (2A) was amended to include 2 new categories where bankrupt individuals may be able to qualify for a discharge from bankruptcy and the creditor(s) may not object:

Key Points

A “pre-pack” is a sale of all or part of a distressed company’s business or assets, negotiated before the company enters a formal insolvency process and executed by the appointed insolvency practitioner immediately after the insolvency process begins.

Revival of the Corporate Insolvency Resolution Process (‘CIRP’) proceedings refers to the restoration of the already withdrawn CIRP by a creditor which generally happens upon the breach of the settlement agreement (‘Settlement Agreement’) pursuant to which the application for CIRP also gets withdrawn. In such circumstances, rather than filing for a fresh application for initiation of CIRP, the creditor may seek reviving of the earlier application.