Another groundbreaking judgment from the ADGM Courts in the NMC matter đąđŠđȘđšđ»âïž and another example of the ADGM Courts drawing important parallels between ADGM and English law.
English proceedings re NMC Health Plc are also ongoing. In his judgment at CFI on 8 July 2024, Sir Justice Andrew Smith found that:
1. The ADGM Courts can make an order in respect of the fraudulent carrying on of the business of a company prior to the time at which that company was continued in the ADGM.
International case law
European jurisprudence on universal and territorial procedures
Judgment of the Court of Justice of the European Union of April 18, 2024 (AIR BERLIN case)
Introduction
Liquidations in the British Virgin Islands (âBVIâ) can be either:
1) an insolvent liquidation and therefore governed by the Insolvency Act 2003 (as amended) (âInsolvency Actâ); or
2) a solvent liquidation and therefore governed by the BVI Business Companies Act (as amended) (âCompanies Actâ). The Companies Act was amended by the BVI Business Companies (Amendment) Act 2022 and BVI Business Companies (Amendment) Regulations 2022.
The issue of release/enforcement of third party guarantees as part of a resolution plan of the borrower has been the subject of litigation across various judicial forums in India.
To clarify this issue, the Insolvency and Bankruptcy Board of India (IBBI) has proposed amendments to IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016 as part of its recent discussion paper.
The rules governing corporate and personal insolvency in Singapore are set out in the Insolvency, Restructuring and Dissolution Act 2018 (IRDA), which includes mechanisms to reverse transactions that unfairly deplete a company's assets prior to insolvency, thereby protecting creditors' interests by allowing the value of the companyâs assets to be maximised for distribution to its creditors on insolvency.
Judges of Barcelona unify principles on certain points of insolvency law
Sian Participation Corp (In Liquidation) (Appellant) v Halimeda International Ltd (Respondent) (Virgin Islands) [2024] UKPC 16
The UK Jurisdiction Taskforce has published a comprehensive Legal Statement on Digital Assets and English Insolvency Law.
In this article we review the key aspects relevant to Cayman Islands Insolvency Practitioners.
Introduction
The BC Court of Appeal has confirmed the jurisdiction for Canadian courts to make reverse vesting orders (âRVOâ) in receivership proceedings. British Columbia v.
Recent high-profile contractor collapses have made many acutely aware of the need to ensure they are adequately protected in the event of employer or contractor insolvency. This increase in insolvencies has also placed significant stress on the construction bond market. Contractor insolvencies put pressure on surety bond providers, which in turn can lead to increased rates and more stringent criteria being imposed on contractors seeking bonds.