１ はじめに 

新型コロナウイルスの感染拡大が本格化した2020年4月頃 は、メディアなどで、2020年は企業の倒産件数が大幅に増加 するのではないか、という予測が少なからず見受けられました。 もっとも、実際には、企業の倒産、特に民事再生は大きく減少 しました。2020年の倒産動向については民間信用情報機関 等で発表1 されていますが、法的倒産案件の具体的な件数に 触れたものはあまりみかけないように思いますので、何回かに 分けて紹介したく考えています。今回は民事再生編です。

２ 民事再生の利用状況

民事再生には、①主に企業の事業再生に活用される「通常 再生」、及び②個人のみが利用可能な「個人再生」の2種類が あります。この2つの手続のこれまでの利用状況は以下のとお りです2 。

３ 企業の民事再生（通常再生）

In Re Samson Paper Co Ltd [2021] HKCFI 2151, the Hong Kong Court issued for the first time a letter of request to the Shenzhen Bankruptcy Court requesting the latter to recognise and assist Hong Kong liquidators.

マレーシアの2016年会社法（Companies Act 2016）では、会 社の再建手続として、

① スキーム・オブ・アレンジメント（Scheme of Arrangement. 以下「SOA」といいます。）

② 会社任意整理手続（Corporate Voluntary Arrangement. 以下「CVA」といいます。）

③ 更生管財手続（Judicial Management. 以下「JM」といいま す。）

の3つが用意されています。

本稿では、これら3つの再建手続についてご説明いたしま す。

１．スキーム・オブ・アレンジメント （Scheme of Arrangement）

（１） 概要

The terms "ranking agreement" and "intercreditor agreement" are used interchangeably but generally refer to the same types of agreement - being those which regulate the priority of repayment of indebtedness owed to the creditors of an obligor. Strictly speaking, a ranking agreement is the Scottish equivalent to the English law deed of priorities and is typically used for shorter form ranking arrangements. As is the case in England, a Scottish intercreditor agreement is typically reserved for more complex arrangements and usually ranks both securities and liabilities in point of priority.

In our first and second summaries on the key differences in taking security between Scotland and England, I summarised the positions on the Scots law of assignation and share security respectively.  This is the third summary in that five part series and considers the position on floating charges in Scotland.

“…it is fallacious and unrealistic for the Company to assume that the value of the Haitian Shares remained the same from February to August 2019. Between February and August 2019, Haitian Energy had published no less than nine announcements suggest that the financial condition of Haitian Energy was in a state of flux, and that the value of the Haitian Shares was susceptible to fluctuation.”

– William Wong SC (Deputy High Court Judge in Re Victor River Ltd)

INTRODUCTION

The recent Victorian Supreme Court of Appeal case of Quin v Vlahos [2021] VCSA 205 has clarified when third party funds, such as a sole director’s personal bank account, can be taken into account in determining a company’s solvency.

Key Takeaways

Until the recent decisions of the Full Court of the Federal Court of Australia in Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64 (Badenoch) and Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns

In a recent post, I discussed three situations in which a debtor in bankruptcy might find itself dispossessed of assets that appeared to be property of the bankruptcy estate. This article expands on that general idea and presents a compendium of situations in which creditors or circumstances may deprive a debtor of assets or their value.

Editor’s Note:  this is likely not an asset upon which you should base your reorganization – see below.

The English High Court has sanctioned the scheme of arrangement proposed by Provident Financial, by which the net liabilities of two Provident group companies to their redress creditors will be subject to a 90-95% haircut. This case raises two interesting questions.

Why was the scheme sanctioned when the recent Amigo Loans scheme was not?