For background on the Act and the National Security and Investment (NSI) regime, please see our November 2020 Client Alert, August 2021 Client Alert, and

Introduction

On June 27, 2022, the U.S. Supreme Court granted certiorari inMOAC Mall Holdings LLC v. Transform Holdco LLC (21-1270) to resolve a Circuit split over whether section 363(m) of the Bankruptcy Code limits appellate jurisdiction over bankruptcy sale orders or simply limits the appellant’s remedies on such appeals. Given the now decades-long trend toward resolving Chapter 11 cases through asset sales, including assignments of leases and contracts, the Supreme Court’s decision may provide clarity to a vitally important part of modern Chapter 11 practice.

Diese Gretchenfrage ist dem Insolvenzrechtssenat des BAG am 25. Mai 2022 einmal mehr gestellt und diesmal eindeutig - mit Auswirkungen über den zu entscheidenden Fall hinaus - beantwortet worden (Az. 6 AZR 497/21). Hintergrund war die Anfechtungsklage eines Insolvenzverwalters gegenüber einer Arbeitnehmerin des Insolvenzschuldners.

Historically, the Hong Kong courts have generally recognised foreign insolvency proceedings commenced in the jurisdiction in which the company is incorporated. This may no longer be the case in Hong Kong following the recent decision of Provisional Liquidator of Global Brands Group Holding Ltd v Computershare Hong Kong Trustees Ltd [2022] HKCFI 1789 (Global Brands).

Good morning.

Following are this week’s summaries of the Court of Appeal for Ontario for the week of July 25, 2022.

Good morning.

Following are this week’s summaries of the decisions released from the Court of Appeal for Ontario for the week of July 25, 2022. The Court was busy before its long weekend including one lengthy substantive case released.

On Friday, 29 July the Minister for Enterprise, Trade and Employment signed into law the European Union (Preventive Restructuring) Regulations 2022 (the Regulations).

The Bankruptcy Protector

State laws on assignments for benefit of creditors (“ABC”) have been around for a long time. But times have changed over the last half-century. Specifically, the bankruptcy alternative has changed dramatically:

Key Point

• The UK government's proposals to only partially implement a new UNCITRAL Model Law means that creditors of English law debts who do not consent to a foreign restructuring proceeding will still have recourse to enforcing their rights against the debtor's UK-based assets.

English Law Is Still a Special Situation