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    Protecting lease rights in Austria: Consequences of insolvency and (compulsory) sale of premises
    2025-06-10

    June 2025 – The current economic situation is causing an increasing number of lessees to have concerns about the financial situation of their lessors and the stability of their lease rights. In this context, the question often arises as to what effect (i) the opening of insolvency proceedings against a lessor's assets, and/or (ii) the (compulsory) sale of the property on which the leased premises are located have on the lease agreement.  

    1.  Opening of insolvency proceedings against the assets of a lessor

    Filed under:
    Austria, Insolvency & Restructuring, Litigation, Kinstellar
    Authors:
    Sandra Maria Seldte
    Location:
    Austria
    Firm:
    Kinstellar
    SCA raises uncertainty over safeguarding of insurance benefits in insolvency proceedings
    2025-06-09

    The Supreme Court of Appeal (“SCA”) recently handed down judgment in Prinsloo v Majiedt N.O. and Another, addressing the protection of benefits of long-term life insurance policies under section 63 of the Long-term Insurance Act, 1998 (“LTIA”). The case specifically considered these protections in the context of marriage in community of property and the subsequent sequestration of the joint estate.

    Filed under:
    South Africa, Insolvency & Restructuring, Insurance, Litigation, ENSafrica, Insolvency
    Location:
    South Africa
    Firm:
    ENSafrica
    Kerala High Court’s Interpretation of SARFAESI Exemptions vis-à-vis Stamp Duty on ARC Assignments
    2025-06-05

    In a significant decision with far-reaching consequences for the financial and insolvency ecosystem, the Kerala High Court (“High Court”) in J.C. Flowers Asset Reconstruction Pvt. Ltd. v. State of Kerala adjudicated upon the levy of stamp duty on assignment agreements executed under Section 5 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”).

    Filed under:
    India, Banking, Insolvency & Restructuring, Litigation, Vaish Associates Advocates, Reserve Bank of India, Bank of India, Insolvency and Bankruptcy Code (India)
    Authors:
    Saheb Singh Chadha , Krishna Ramanathan
    Location:
    India
    Firm:
    Vaish Associates Advocates
    Do you Need a Scheme Meeting? Court Guidance on Reconstruction and Amalgamation under Scheme of Arrangement
    2025-06-05

    Introduction

    An amalgamation or reconstruction of companies under sections 366 and 370 of the Companies Act 2016 ("CA 2016") is a common tool for corporate restructuring in Malaysia. It enables the seamless transfer of assets and liabilities from the transferor to the transferee, typically within group structures where both companies share a common ultimate holding company.

    Filed under:
    Malaysia, Insolvency & Restructuring, Litigation, Rajah & Tann Asia
    Authors:
    Chua See Hua , Arthur Ng Wei Meng , John Mathew , Heng Yee Keat , Janice Ooi
    Location:
    Malaysia
    Firm:
    Christopher & Lee Ong
    Supreme Court of India set aside JSW Steel’s Resolution Plan for Bhushan Steel and Power Limited; National Company Law Tribunal directed to initiate liquidation proceedings
    2025-06-04

    The Supreme Court of India’s (“Supreme Court”) decision in the case of Kalyani Transco vs M/s Bhushan Steel and Power Limited1 and connected appeals raises some serious legal issues. We understand from the public domain that parties are considering filing review and curative petitions. Without expressing any views on the judgement, set out below is a summary of the key findings and directions of the Supreme Court.

    Filed under:
    India, Insolvency & Restructuring, Litigation, JSA, Anti-money laundering, Tata Steel Ltd, Insolvency and Bankruptcy Code (India), Supreme Court of India, National Company Law Tribunal
    Authors:
    Divyam Agarwal , Divyanshu Pandey , Soumitra Majumdar , Pranav Tanwar
    Location:
    India
    Firm:
    JSA
    Bankruptcy while litigating in Switzerland: what happens and what should you do?
    2025-06-03

    Switzerland is known for its efficient legal system and pro-enforcement stance. However, if you are a foreign insolvency practitioner handling bankruptcy proceedings with ongoing litigation in Switzerland, you may face some procedural hurdles.

    This article outlines the effects of a foreign bankruptcy decree in Switzerland and explores the available options to initiate or continue litigation.

    WHAT HAPPENS?

    Foreign insolvency practitioners are barred from litigating without prior recognition

    Filed under:
    Global, Switzerland, Insolvency & Restructuring, Litigation, LALIVE, Bankruptcy
    Authors:
    Alexandre Schwab
    Location:
    Global, Switzerland
    Firm:
    LALIVE
    High Court of Justice rules that arbitration cannot decide on set-off of claims involving companies undergoing judicial reorganization
    2025-06-02

    Introduction

    Under Brazilian law, the concept of objective arbitrability, as established by the Arbitration Law (Law No. 9,307/1996), refers to disputes involving rights of a patrimonial nature, provided that such rights are freely disposable by the parties involved.

    A recent amendment to the Brazilian Bankruptcy Law (Law No. 11,105/2005) established that the commencement of judicial reorganization proceedings by a distressed company does not entail the inability to submit disputes to arbitration.

    Filed under:
    Brazil, Arbitration & ADR, Insolvency & Restructuring, Litigation, Kincaid | Mendes Vianna Advogados
    Authors:
    Igor Richa Alves , Godofredo Mendes Vianna
    Location:
    Brazil
    Firm:
    Kincaid | Mendes Vianna Advogados
    Directors ordered to pay petitioners’ costs of a winding up petition
    <br>
    2025-05-28

    Kingsley Napley is pleased to report the judgment of Mrs Justice Joanna Smith DBE in the case of Re MPB Developments Ltd [2025], which represents an excellent result for our client.

    We act for the petitioners in long running litigation. Two years ago, our clients presented a creditors’ winding up petition, together with a contributory’s winding up petition on the just and equitable basis and an unfair prejudice petition.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Kingsley Napley LLP, Senior Courts Act 1981 (UK)
    Authors:
    Nicholas Hughes , Lucy Edwards
    Location:
    United Kingdom
    Firm:
    Kingsley Napley LLP
    Collateral Gains? High Court Rules Indirect Economic Benefits Too Remote in Petrofac Plan
    <br>
    2025-05-23

    Introduction

    On 20 May 2025, Mr Justice Marcus Smith handed down his eagerly-awaited judgment sanctioning the two inter-conditional restructuring plans (the Plans) proposed by members of the Petrofac Group. The judgment raises issues described as “going to the heart of the Part 26A regime” and is significant as the first case to consider the application of the Court of Appeal’s ruling in Thames Water.

    The judgment addresses three particularly interesting points:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, White Collar Crime, Freshfields, HM Revenue and Customs (UK), Office of Foreign Assets Control (USA), Serious Fraud Office (UK)
    Authors:
    Caroline Platt , Rob Gray , Lindsay Hingston , Katharina Crinson
    Location:
    United Kingdom
    Firm:
    Freshfields
    Landmark Belgian Court of Cassation ruling: mortgage holders must renew registration post-bankruptcy
    <br>
    2025-05-20

    In a recent judgment, the Belgian Court of Cassation ruled that a secured creditor must renew the registration of its mortgage even after the opening of bankruptcy proceedings. Aside from its obvious significance for real estate security, the Court’s ruling may have wider implications for secured creditors and could potentially be interpreted to apply to other forms of security, including the registered movable assets pledge. Secured creditors should see this as a reminder to ensure that perfection requirements continue to be met, be it before or after insolvency.

    Filed under:
    Belgium, Banking, Insolvency & Restructuring, Litigation, Freshfields, Insolvency
    Authors:
    Reinout Vrielinck , Wouter Van Der Veken , Zita Leijnse
    Location:
    Belgium
    Firm:
    Freshfields

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