Paul, Weiss, Rifkind, Wharton & Garrison LLP European Restructuring – 2025 in Review 5

Red Lobster Seafood Co., the beloved full-service dining seafood specialty restaurant operator, is staging a comeback just one year after emerging from Chapter 11 bankruptcy. The company has taken steps to restructure its operations and improve its financial performance. With new leadership and a bold turnaround plan, the company’s future looks promising again.

Headquartered in Orlando, Florida, Red Lobster has over 500 locations in the United States and Canada. The brand has become associated with fresh seafood, welcoming guest service, and affordable prices.

In its decision in In re Brandt, the court seems to draw a clear line: No post-petition add-ons for attorneys’ fees and costs when a secured claim arises from a judgment lien.

Aquapoint LP v Fan [2025] UKPC 56

Introduction

The Alberta Court of King’s Bench (the Court) has delivered an important decision in the insolvency proceedings of Wolverine Energy and Infrastructure Inc. (WEI), voiding insider payments and imposing personal liability on a former executive. The ruling highlights the significant risks associated with insider transactions during financial distress and clarifies how courts apply statutory remedies under the Bankruptcy and Insolvency Act (BIA), the Fraudulent Preferences Act (FPA), and the Statute of Elizabeth (SOE).

What is insolvency?

Insolvency is defined in section 95A of the Corporations Act 2001 (Cth)(Act) as the inability of a company to pay its debts when they fall due. Australian law applies a cash-flow test rather than a balance-sheet test, meaning the inquiry does not turn on the numerical gap between assets and liabilities.