In Re Petrofac Ltd [2025] EWHC 2887 (Ch), the English High Court made an administration order in relation to a Jersey-incorporated company even though its registered office was not in England which is the starting point for determining COMI and therefore the Court’s jurisdiction to make such an order.

Background

This past year has featured a diverse range of consequential, precedent-setting insolvency disputes across various industries, reflecting both the breadth of challenges facing Canadian businesses and the adaptability of Canada’s insolvency framework in resolving these issues. The most consequential decisions in which we have been involved are described below, alongside key takeaways for stakeholders participating in insolvency proceedings in 2026 and beyond.

In a recent case, the High Court has provided important clarification on the treatment of retention monies, reinforcing the statutory trust obligations under the Construction Contracts Act 2002 (CCA).

This is the latest in our series of discussions about how clients have used HSF Kramer's Decision Analysis models as part of their strategy for disputes management.

This week, financial disputes specialist Donny Surtani describes its use in a sell-or-hold decision relating to a distressed debt holding:

Red Lobster Seafood Co., the beloved full-service dining seafood specialty restaurant operator, is staging a comeback just one year after emerging from Chapter 11 bankruptcy. The company has taken steps to restructure its operations and improve its financial performance. With new leadership and a bold turnaround plan, the company’s future looks promising again.

Headquartered in Orlando, Florida, Red Lobster has over 500 locations in the United States and Canada. The brand has become associated with fresh seafood, welcoming guest service, and affordable prices.

The EU Mobility Directive (2019/2121 (EU), the Directive) has introduced a harmonised legal framework for cross-border conversions (or redomiciliations), mergers, and demergers within the EU and EEA — offering global companies new flexibility to reshape their European operations. Please see our legal update of December 2022 as well as any of our subsequent country specific insights.

Successful outcomes for clients seeking to obtain winding up orders against foreign companies with local agents. The case summaries below, of Re Anagram International LLC (recs and mgrs apptd) [2025] VSC 267 and the earlier matter of W Capital Advisors Pty Ltd (in its capacity as trustee for the W Capital Advisors Fund) v Mawson Infrastructure Group, Inc (NSD1395/2024), provide guidance on how parties can best position themselves for success in these circumstances.

Relevant Law

Harmonising EU insolvency law: colegislators reach agreement on compromise text for a new directive — key changes and what is next 8 DECEMBER 2025 EU insolvency law © A&O Shearman 2 EU directive harmonising certain aspects of insolvency law Overview and status The European Parliament and the Council (the co-legislators) reached political agreement on the proposed Directive harmonising certain aspects of insolvency law on 19 November 2025. The final compromise text was confirmed and circulated in early December 2025.