在投融资实务中，投资人往往会在对赌协议约定要求原股东按照投资本金加一定投资回报/投资溢价/年化收益（下称“投资收益”）的回购价格（下称“回购价款”）来回购投资方的股权，并且约定原股东逾期支付回购价款的逾期付款利息、罚息或违约金（统称“违约金”）。对此，我们在《对赌协议实务系列——股权回购中回购价款及违约金的计算（上）》讨论了回购价款的起算时间与金额计算的问题，并提出了相应建议，本文将继续讨论违约金的计算问题。

Introduction

The Insolvency and Bankruptcy Code, 2016 (“Code”) was enacted with a primary objective of timebound reorganisation and insolvency resolution of corporate debtors. Under the Code, financial or operational creditors of a corporate debtor can approach the National Company Law Tribunal (“NCLT”) to initiate insolvency resolution process against a corporate debtor upon occurrence of a default by the corporate debtor.

The deadline for obtaining an order to suspend discharge from bankruptcy is absolute, as confirmed in the recent case of Paul Allen (as Trustee in Bankruptcy) v Pramod Mittal (in bankruptcy) [2022] EWHC 762 (Ch).

Background

Introduction

A foreign bankruptcy or insolvency decree has no effects on the debtor’s Swiss assets and on court proceedings against the debtor in Switzerland and a foreign bankruptcy administrator must not act on Swiss soil unless the foreign decree is formally recognized by a Swiss court. Such recognition may be initiated by the foreign bankruptcy administration, any creditor or the debtor itself. This three-step guide describes how a foreign bankruptcy decree can be recognized in Switzerland.

Update unseres Leitfadens zum Umgang mit Materialkostenerhöhungen und Lieferverzögerungen

Die aktuelle Entwicklung bei Baukosten und Materiallieferungen

“The trustee shall . . . appear and be heard at . . . any hearing that concerns . . . the value of property . . . confirmation of a plan . . . sale of property.” § 1183(b)(3) (emphasis added).

In every Subchapter V case, the trustee has a statutory duty to “appear and be heard” on certain issues. Often, a trustee can satisfy such duty, on many issues, by participating in a hearing and expressing a verbal opinion on the matter that’s before the Bankruptcy Court.

Introduction

The practice area of bankruptcy & insolvency is in a constant state of flux. 2020 and 2021 saw some of the biggest reforms to our insolvency framework in 30 years, as businesses struggled financially with the fallout from the COVID-19 pandemic.

The recent Federal Court decision in Diversa Pty Ltd v Taiping Trustees Limited has highlighted some important risks faced by secured parties who don’t pay attention to the details when perfecting, and maintaining perfection of, their security.

The recent Federal Court decision in Diversa Pty Ltd v Taiping Trustees Limited has highlighted some important risks faced by secured parties who don’t pay attention to the details when perfecting, and maintaining perfection of, their security. Those risks include:

Contributed by William Malouf and Alexandra Stead, Senior Associates, Baker McKenzie