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    No “New Look” in the latest landlord challenge to a tenant CVA
    2021-05-11

    Summary

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Charles Russell Speechlys
    Authors:
    Daniel Moore , Hannah Turner
    Location:
    United Kingdom
    Firm:
    Charles Russell Speechlys
    Dutch Supreme Court allows debtor's appeal to enter debt restructuring in proceedings opposing a bankruptcy order
    2021-05-11

    Until recently, an appeal to enter debt restructuring in proceedings opposing a bankruptcy order was not allowed by the Dutch lower courts. In a ground-breaking ruling on 26 March 2021, the Dutch Supreme Court (ECLI:NL:HR:2021:460) put an end to this practice.

    The case

    Filed under:
    Netherlands, Insolvency & Restructuring, Litigation, Taylor Wessing
    Authors:
    Remco de Jong
    Location:
    Netherlands
    Firm:
    Taylor Wessing
    Landlord and tenant restructurings - New Look CVA
    2021-05-11

    An important judgment handed down by Zacaroli J yesterday in the New Look CVA challenge. The New Look CVA proposal involved treating landlords of different leases in various different ways, including (i) resetting rent to a turnover percentage (ii) keeping rent intact and (iii) reducing rent to nil. Landlords are given the flexibility to terminate leases within a prescribed period where they identify a tenant prepared to pay better rent (important to ensure the landlord's proprietary right is not interfered with). In a CVA, all unsecured creditors are invited to vote.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, A&O Shearman
    Authors:
    Alexander Wood
    Location:
    United Kingdom
    Firm:
    A&O Shearman
    Restructuring & Insolvency
    2021-05-11

    After last year’s significant reforms to Australia’s insolvency framework, the Government has demonstrated a further commitment to simplifying and streamlining insolvency law to allow viable businesses that encounter economic challenges to restructure and continue trading.

    This commitment is demonstrated by the Government continuing to examine ways to improve Australia's insolvency laws, including consulting on options to:

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, King & Wood Mallesons
    Authors:
    Darren McClafferty , Richard Snowden
    Location:
    Australia
    Firm:
    King & Wood Mallesons
    Farewell to the peak indebtedness rule…. abolished by unanimous decision
    2021-05-11

    In the recent decision ofBadenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64,the Full Court of the Federal Court of Australia abolished the use of the peak indebtedness rule in A

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Scanlan Carroll Lawyers, Corporations Act 2001 (Australia), Federal Court of Australia
    Authors:
    Amanda Harrington
    Location:
    Australia
    Firm:
    Scanlan Carroll Lawyers
    First Hong Kong Decision Refusing to Assist Offshore Soft-Touch Provisional Liquidators: Re China Bozza Development Holdings Ltd
    2021-05-11

    Hot on the heels of a trio of decisions concerning offshore provisional liquidation, which opened a new and commendable era for Hong Kong’s cross-border insolvency regime (see https://dvc.hk/en/news/cases-detail/heralding-a-new-and-healthy-era-of-cross-border-insolvency-recognition-in-hong-kong-re-fdg-electric-vehicles-ltd-re-

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers, Corporate governance, Provisional liquidation, Court of First Instance (Hong Kong)
    Authors:
    Look-Chan Ho , Terrence Tai
    Location:
    Hong Kong
    Firm:
    Des Voeux Chambers
    Crypto assets: A new line of enquiry and recovery for insolvency practitioners
    2021-05-10

    The media is brimming with articles on the rise of cryptocurrencies and digital assets. Whether it’s news on the rising value of Bitcoin, the acquisition of digital art for large amounts of money, the release of the latest Kings of Leon album as an NFT (non fungible token), or articles on people who have invested in cryptocurrency scams, crypto assets are taking center stage.

    Filed under:
    South Africa, Banking, Insolvency & Restructuring, IT & Data Protection, DLA Piper, Bitcoin, Cryptocurrency
    Authors:
    Nicola Nolan
    Location:
    South Africa
    Firm:
    DLA Piper
    令和3年5月1日からスタートする不動産情報の取得制度について
    2021-05-10

    第1 はじめに

    令和元年5月10日に「民事執行法及び国際的な子の奪取 の民事上の側面に関する条約の実施に関する法律の一部を 改正する法律」が成立し、令和2年4月1日から、一部を除 き、改正法が施行されていたところです。この改正では、債務 者の財産状況の調査に関する制度の実効性を向上させるた め、財産開示手続の見直しを行うとともに、第三者からの情 報取得手続の新設等の改正を含むものですが、不動産に関 する情報取得手続が令和3年5月1日からスタートすることと なったため1 、その内容を簡単にご紹介させていただきます。

    第2 第三者からの情報取得手続

    1 制度の概要

    Filed under:
    Japan, Insolvency & Restructuring, Real Estate, Oh-Ebashi LPC & Partners
    Location:
    Japan
    Firm:
    Oh-Ebashi LPC & Partners
    Ontario Court of Appeal Clarifies Requirements for Foreclosure on Investment Property under the Personal Property Security Act
    2021-05-10

    In its recent decision in Atlas (Brampton) Limited Partnership v. Canada Grace Park Ltd., 2021 ONCA 221, the Ontario Court of Appeal (ONCA) clarified the requirements for foreclosure on investment property under the Personal Property Security Act (Ontario) (the PPSA).

    Filed under:
    Canada, Ontario, Banking, Insolvency & Restructuring, Litigation, Real Estate, Stikeman Elliott LLP, Power of attorney, Ontario Superior Court of Justice
    Location:
    Canada
    Firm:
    Stikeman Elliott LLP
    Court will not grant a regulating order based solely on the impact of COVID-19
    2021-05-10

    In Hong Kong, the Official Receiver, a provisional liquidator, liquidator or any creditor may apply for a regulating order any time after the presentation of a winding-up petition. Because the court has the power to dispense with various winding-up procedures on making a regulating order (for example, the calling of the first meeting of creditors and contributories), this has sometimes been viewed as a way to facilitate a more streamlined liquidation process.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Dentons Hong Kong, Coronavirus
    Authors:
    Richard Keady
    Location:
    Hong Kong
    Firm:
    Dentons Hong Kong

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