Expert input is critical to a successful restructuring. Obtaining proper independent expert input is vital, and this next article in our series focusses on managing director duties and stakeholder interests in a restructuring. The impact of Covid19 on businesses has been significant and severe.
Ticari ve iktisadi bütünlük kararı, esasen icra ve iflas hukukundan doğan bir müessese olmakla birlikte günümüzde sıklıkla Tasarruf Mevduatı Sigorta Fonu [“TMSF”] tarafından devralınan şirketler bakımından uygulama alanı bulmaktadır. İktisadi bütünlük kararının önemi hacze konu hak ve malların ayrı ayrı mı yoksa bu mal ve hakları bünyesinde bulunduran işletmelerin bir bütün halinde mi satılarak paraya çevrilmesi gerektiği noktasında toplanmaktadır.
On June 9, 2021, East Greenwich, R.I.-based jewelry company Alex and Ani, LLC filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware along with several affiliates. The lowest filed case number is 21-10917 (A and A Shareholding, Co., LLC). The company estimates $100 million to $500 million in both assets and liabilities.
Зміст
В діловому середовищі, як у потенційних боржників, так і кредиторів, склалося уявлення про інститут банкрутства як про інструмент уникнення відповідальності за боргами. Це пояснюється багаторічною вкрай низькою ефективністю відповідних процедур. Однак, призначенням конкурсного права є саме відновлення платоспроможності боржника або принаймні повне задоволення вимог його кредиторів. І процедура банкрутства передбачає спеціальні механізми для цього, навіть у разі недостатності майна боржника для погашення заборгованості.
Contents
The Australian government has taken swift action to enact new legislation that significantly changes the insolvency laws relevant to all business as a result of the ongoing developments related to COVID-1
BGH, Urt. v. 9.2.2021, Az. II ZR 28/20
Nach ständiger Rechtsprechung des BGH haften Kommanditisten im Rahmen eines Insolvenzverfahrens nach §§ 171 Abs. 1 und 2, 172 Abs. 4 HGB gegenüber der Insolvenzmasse nur insoweit, wie die Inanspruchnahme zur Gläubigerbefriedigung erforderlich ist.
When a Cayman Islands company (CayCo) goes into official liquidation, various antecedent transactions entered into in the lead up to that liquidation may be set aside, thereby allowing the recovery of assets of the CayCo to maximise the return to its stakeholders. This snapshot sets out a summary of challenges that may be made to antecedent transactions in the Cayman Islands. These may also apply to Limited Liability Companies, Partnerships, Exempted Limited Partnerships and, in certain circumstances, to foreign companies, but this snapshot focuses on CayCos.
The following 10 cases have been reported in our Bankruptcy & Insolvency practice area:
Re Total Truss Systems — Retrospective orders made for liquidators of corporate trustee
Introduction
Under Singapore bankruptcy law, when a person is adjudged bankrupt, any disposition of property made by him from the date of the bankruptcy application is void unless the court consents to or ratifies the disposition. However, will the court ratify the disposition of assets made pursuant to an order for division of assets in divorce proceedings, and in what circumstances will it do so? These were the issues considered in the Singapore High Court case of Ong Dan Tze Magdalene v Chee Yoh Chuang & Anor [2021] SGHC 129.