Government draft of law implements EU Restructuring Framework, and introduces new restructuring instruments.

The forecast for the English scheme and plan looks set fair despite concerns around Brexit turbulence.

The restructuring market’s appetite for Part 26 schemes of arrangement and Part 26A restructuring plans shows no signs of diminishing, with some debtors (Smile Telecoms and ED&F Man) even taking a second bite of the cherry. In this article, we explore recurring themes identified in the market throughout the past 18 months.

Out of the money, out of the room

Successfully executing an acquisition from stress, distress, or insolvency requires a creative approach to reconcile competing interests.

Insolvency officeholders may need clearance upon appointment to entity in an affected sector.

As a result of the legal amendments on German tenancy law that were passed in March 2020 in connection with the COVID-19 pandemic, landlords are not allowed to terminate lease agreements for default of rental payments occurring in the period from April 1 to June 30, 2020, until June 30, 2022, if those defaults result from the COVID-19 pandemic.

The decision raises new questions about whether cross-border insolvency recognition and assistance between mainland China and Hong Kong will be a two-way street.

Six key takeaways for COVID-19 Restructurings and Antitrust

A restructuring plan completed earlier this year by Smile Telecoms notches up a number of firsts.

African telecommunications provider Smile Telecoms Holding Limited, incorporated in Mauritius, successfully completed a restructuring plan (the Plan) under Part 26A of the UK Companies Act 2006 at the end of March 2021.

The Plan features a number of novel actions, including:

Issuers face numerous restructuring alternatives, both within and outside the bankruptcy process