Introduction
COVID-19
Government Intervention Schemes
Current as of 21 May 2021
Government Intervention Schemes
COVID-19 Government Intervention Schemes 2
Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. This guide provides a summary of key government interventions around the globe in relation to: EU State Aid Approvals (for EMEA region), foreign investment restrictions, debt, equity and taxation.
On May 31, 2021, Kumtor Gold Company CSJC, a Kyrgyz Republic-based operator of the Kumtor mine located in the Kyrgyz Republic, along with Kumtor Operating Company CSJC, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-11051). The company estimated $1 billion to $10 billion in assets and $100 million to $500 million in liabilities.
“On May 31, 3031, Avadim Health, Inc. along with several affiliates, which operate an Asheville, North Carolina-based privately held skincare and wellness company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 21-10883). The company reports $10 million to $50 million in assets and $50 million to $100 million in liabilities.
Introduction
With the global economic downturn, businesses may begin to show signs of insolvency. Indeed, we have seen an increasing number of applications for compulsory winding-up processed by Hong Kong courts.
The English High Court has sanctioned the restructuring plans proposed by the Virgin Active group following a hearing contested by a group of the gym chain's landlords. The decision represents the first use of the restructuring plan procedure, introduced during the summer of 2020, to restructure a lease portfolio, demonstrating the utility of the tool for debtors when implementing a significant restructuring across the capital structure, and as an alternative to the much-used company voluntary arrangement.
着全球经济陷入低迷，企业无力偿债的迹象开始浮现。事实上，我们看到香港法院处理的强制清盘申请数目正在增加。
若您是债权人一方，当您的债务人无法还款时，很自然地您会考虑应采取哪些行动。如果债务人是离岸公司，情况或会变得复杂。近期有数宗个案涉及在香港联交所上市的公司，其注册地位于其他司法管辖区，而资产和主要业务则位于中国內地。这些个案显示，债权人在处理拥有类似分层架构的公司时需要考虑一些重要问题。这份客户简报就这些问题和应考虑的事项进行讨论。
将一家公司清盘
如您的债务人无法还款，您会开始考虑各种选项，而选项之一可能是将该公司清盘。然而，在展开有关行动前，您应该先评估一些事项。
在香港进行清盘
债务人能否就债务提出有实质理由的争辩？
在对债务人公司进行清盘时，您会以债务人无力偿还债务作为理由1，而常见用以支持这个理由的依据是债务人在收到法定要求偿债书后三个星期内仍未能清偿债务。
The recent restructuring of the Norwegian Group by the Irish High Court helpfully clarifies the application of the Cape Town Convention in Irish restructuring. It is also an interesting case study regarding the circumstances in which the Irish courts will restructure a group of companies, which is not headquartered in Ireland.
This article deals with the insolvency concept of the center of main interests (COMI) under the European Union insolvency legislation, in particular Regulation 2015/848 on insolvency proceedings (the Insolvency Regulation or the Regulation).
Pursuant to the Insolvency Regulation COMI is one of the central unified and autonomous concepts1 of the insolvent debtor, i.e. it is an insolvency concept and not a corporate law or tax concept.