Election of Joe Graham to Partner
Joe Graham was elected partner in the New York office. This year, Joe played a leading role in the chapter 11 cases of Avaya, Benefytt and Diamond Sports. He regularly advises on out-of-court restructurings, bankruptcy litigation and distressed investments. Joe earned his J.D., magna cum laude, and his B.A. from the University of Notre Dame.
Kelley Cornish Inducted into “M&A Advisor Hall of Fame”
Executive summary
A recent decision of the High Court sanctioned restructuring schemes for two companies in the Solar 21 renewable energy investment group showing once again effective and efficient restructuring tools available in Ireland for companies in need. Below we discuss the main features of the Judgment and the criteria required to be met in order for the schemes to be legally binding and effective pursuant to Part 9 of the Companies Act 2014 (as amended) (the Act).
What is a Part 9 Scheme of Arrangement?
In our prior alert over the summer, we highlighted the Delaware Supreme Court’s decision in Stream TV Networks, Inc. v. SeeCubic, Inc., 279 A.3d 323, 329 (Del.
Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.
The past few weeks have brought more news stories of doom and gloom from the hospitality sector with statistics showing that the number of insolvencies is at an all-time high. Data published by UHY Hacker Young shows the number of pub and bar insolvencies increased from 438 to 725 over the last year. Insolvency specialist Begbies Traynor has recently reported that higher interest rates are pushing an increasing number of companies into insolvency.
On the 29 November 2023, the Gambling Commission (“GC”) released its second set of consultations on the Gambling White Paper which covers five key areas:
There have been many reported cases in the bankruptcies of Mr and Mrs Brake (the “Brakes”) including the recent case of Patley Wood Farm LLP v Kicks [2023] EWCA Civ 901 where the Court of Appeal considered an application under s303 of the Insolvency Act 1986 (the “IA 1986”) against a decision of the trustees in bankruptcy of the Brakes (the “Trustees”).
Modernisation of Luxembourg insolvency law
Luxembourg insolvency law has recently added new measures and proceedings designed to reorganise the assets or activities of a Luxembourg debtor.
The law of 7 August 2023 on business preservation and modernisation of bankruptcy law (Reorganisation Law) applies to certain Luxembourg commercial companies and came into force on 1 November 2023.
A Case Analysis of Doctors of Optimization Pty Ltd v MPA Engineering Pty Ltd (Subsidiary of Aquatec Maxon Group Ltd) [2023] QCA 219
1. Department of Finance publishes its Feedback Statement on the National Discretions contained within MiCA