Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Restructuring and insolvency - Court decision on how restructuring plans can be used
    2021-05-14

    In what is likely to be the most significant change to the UK restructuring and insolvency market since the Enterprise Act 2002, the Court has paved the way for restructuring plans (RPs) under Part 26A to the Companies Act 2006 to be used to compromise the rights of landlords, financial creditors and other unsecured creditors provided the company shows that those creditors are “out of the money”.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Coronavirus
    Authors:
    Sarah Hawes , Alex Kay , Greg Mulley
    Location:
    United Kingdom
    Firm:
    Herbert Smith Freehills LLP
    The Death of the Peak Indebtedness Rule
    2021-05-14

    Despite ruling in favour of the peak indebtedness rule’s existence only 12 months prior, on Monday, the Federal Court reversed its decision in Badenoch Integrated Logging Pty Ltd to revoke the rule’s operation in Australia.

    Background

    The liquidators of Gunns, a major forestry enterprise, commenced proceedings for an unfair preference claim under section 588FA of the Corporations Act 2001 (Cth) against Badenoch Integrated Logging Pty Ltd, a haulage and timber harvesting contractor.

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Mills Oakley, Corporations Act 2001 (Australia), Federal Court of Australia
    Authors:
    Samuel Barber
    Location:
    Australia
    Firm:
    Mills Oakley
    FCRA Claim Survives Dismissal Where Plaintiff Alleges Defendant Did Not Have a Permissible Purpose to Access Plaintiff’s Credit Report Based on Prior Discharge of Mortgage Debt in Bankruptcy
    2021-05-14

    The Northern District of Illinois recently denied a motion to dismiss a FCRA claim finding that the complaint sufficiently alleged that the defendant did not have a “permissible purpose” to access the plaintiff’s credit report for collection of a mortgage debt that the plaintiff alleged was previously discharged in bankruptcy. In Andrea Billups v. PHH Mortgage Corporation, No. 19 C 7873, 2021 WL 1648114 (N.D. Ill. Apr. 27, 2021), the plaintiff alleged that the Defendant mortgage server violated 15 U.S.C.

    Filed under:
    USA, Illinois, Insolvency & Restructuring, Litigation, Womble Bond Dickinson (US) LLP
    Location:
    USA
    Firm:
    Womble Bond Dickinson (US) LLP
    The Crystal Anniversary: Chapter 15 Turns 15
    2021-05-14

    In recognition of the 15th anniversary of the passage of chapter 15 of the Bankruptcy Code, the New York City Bar Association’s Bankruptcy & Corporate Reorganization Committee hosted a webinar on May 12, 2021 to discuss the current state of chapter 15 cases and potential, corresponding and significant future developments.[1]Several dozen participants joined a panel of distinguished leaders in the field: the Honorable Allan Gropper, former United

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Patterson Belknap Webb & Tyler LLP
    Location:
    USA
    Firm:
    Patterson Belknap Webb & Tyler LLP
    Composition of active mass: valuation of goods and rights
    2021-05-14

    Introduction

    Filed under:
    Spain, Insolvency & Restructuring, Litigation, Augusta Abogados
    Authors:
    Alicia Herrador Muñoz
    Location:
    Spain
    Firm:
    Augusta Abogados
    Virgin Active - out of the money creditors hold little sway
    2021-05-14

    On 12 May 2021, the High Court sanctioned Virgin Active’s Part 26A restructuring plan which had been heavily contested by certain landlords. This is the third restructuring plan to use cross-class cramdown (first used in the DeepOcean Group and subsequently in Smile Telecoms), and the first to bind dissenting landlord classes to lease compromises.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer, Coronavirus
    Authors:
    Katharina Crinson , Lindsay Hingston , Sally Montague
    Location:
    United Kingdom
    Firm:
    Freshfields Bruckhaus Deringer
    NRA Bankruptcy Dismissed for Lack of Good Faith in Filing
    2021-05-14

    The Bankruptcy Court for the Northern District of Texas dismissed the National Rifle Association’s (“NRA”) bankruptcy case on May 11, finding that the case was not filed in good faith. In his opinion, Judge Harlin Hale found that there was cause for dismissal because the case was filed “to gain unfair litigation advantage and … to avoid a state regulatory scheme,” neither of which he considered to be a purpose intended or sanctioned by the Bankruptcy Code.

    Filed under:
    USA, Texas, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy
    Authors:
    Youmi Kim , Sean T. Scott , Aaron Gavant
    Location:
    USA
    Firm:
    Mayer Brown
    Adjournment of winding-up petitions for restructuring - An indulgence not lightly granted
    2021-05-13

    In recent years, it has become increasingly common for companies seeking to avoid an immediate winding-up order, particularly listed companies, to pray in aid of alleged efforts to restructure their debts in a bid to obtain adjournments of a winding-up petition. All too often, these valiant attempts fail: see Re Chase On Development Limited [2020] HKCFI 629, Re SMI Holdings Group Limited [2020] HKCFI 824 and Re REXLot Holdings Ltd [2020] HKCFI 2212 to name a few.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers, Court of First Instance (Hong Kong)
    Authors:
    Douglas Lam SC , Jasmine Cheung
    Location:
    Hong Kong
    Firm:
    Des Voeux Chambers
    Peak indebtedness gets sin binned
    2021-05-13

    The pavlova, women’s right to vote, the flat white, the Rugby World Cup… New Zealand has a storied history of beating Australia to the punch. However, Aussie liquidators might not be so keen to throw their trans-Tasman cousins a friendly ‘chur!’ as their ability to pursue unfair preference claims continues to be eroded following the recent Full Court decision in Badenoch.

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Cornwalls, Good faith, Corporations Act 2001 (Australia), Federal Court of Australia
    Authors:
    Jarrod Munro , Xavier Murphy
    Location:
    Australia
    Firm:
    Cornwalls
    Landmark Recalibration of Hong Kong’s Winding-up Jurisdiction over Foreign Companies: Re China Huiyuan Juice Group Limited
    2021-05-13

    In the landmark case of Re China Huiyuan Juice Group Limited [2020] HKCFI 2940, Mr Justice Harris recalibrated the Hong Kong winding-up jurisdiction and its application to an offshore incorporated, Hong Kong-listed entity.

    In particular, the decision explains why the Hong Kong court may be unable to wind-up an offshore incorporated, Hong Kong-listed company where all of the company’s operating assets are in the Mainland.

    The Material Facts

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers, Court of First Instance (Hong Kong)
    Authors:
    Look-Chan Ho
    Location:
    Hong Kong
    Firm:
    Des Voeux Chambers

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 497
    • Page 498
    • Page 499
    • Page 500
    • Current page 501
    • Page 502
    • Page 503
    • Page 504
    • Page 505
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days