On August 28, 2022, Hauppauge, N.Y.-based Packable Holdings, LLC, a privately-owned tech-enabled e-commerce company, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10797). The company reports $100 million to $500 million in both assets and liabilities.
This 2022 review provides an overview of recent Australian Restructuring and Insolvency activity along with the laws, their application and recent trends and development in restructuring and insolvency activity.
Chapters:
Thomas Benes Felsberg, Fabiana Solano, Clara Moreira Azzoni and Thiago Dias Costa, Felsberg Advogados
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
Overview of recent reforms in Brazilian Bankruptcy Law
Francisco José Rodríquez Nepote, Corona & Nepote, SC
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
On July 29, 2022, Laurie S.
Jorge Luis Moreno Félix, Jose Ignacio El-Mir Arnedo, Abraham Maldonado Zenteno and Iván Neftalí Hernández, PwC
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
Introduction
UK judgment is a prompt for landlords to consider all angles to maximise rent recovery in harsh economic conditions
The UK High Court has ruled in in favour of a landlord whose original tenant and guarantor were held liable for the rent accrued on a gym in Leeds despite the subsequent assignee operating under a restructuring plan.
You should consider the possibility of placing a company into provisional liquidation if there is a risk that a company’s assets will be dissipated to the detriment of that company and a creditor or member of a company, a party can consider putting the company.
The power of a Court to appoint a provisional liquidator to a company stems from section 472(2) of the Corporations Act 2001 (Cth) (Act).
Pursuant to section 472(2) of the Act, a provisional liquidator of a company has either powers:
On 1 August 2022, the English High Court granted the administrators of Petropavlovsk PLC (the “Company”) permission to enter into a sale of its Russian assets to Russian entity UMMC-Invest (the “Proposed Sale”) amidst sanctions concerns.
The Coronavirus (Recovery and Reform) Scotland Act was passed by the Scottish Government on 28 June 2022 and enacted on 10 August 2022 (the "Act"). It makes two key changes to insolvency and diligence in Scotland.
Bankruptcy floor limit