For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.

Recent Developments

NML Capital Ltd. (NML), a hedge fund affiliated with Paul Singer’s Elliott Management Corp. (Elliott), won two favorable rulings from the Supreme Court of the United States (the Court) on Monday, June 16, related to its, now, decade long litigation with the Republic of Argentina over the country’s 2001 default on $100 billion of its debt. The Argentinian bonds were restructured in 2005 and again in 2010, and most bondholders swapped their defaulted bonds out for new, less favorable securities.

Gupta’s $13.9 Million SEC Insider Trading Penalty Affirmed

Small business is undoubtedly the lifeblood of economies, more so where those economies are emerging and developing. The promotion and nurturing of entrepreneurship is a key factor in economic success, not just for those entrepreneurs, but for the wider society, which, as stakeholders, benefits from the generation and distribution of wealth through economic and social policy. One unresolved question, however, is how to treat MSMEs (micro-, small- and medium-enterprises) in insolvency.

GUIDE TO RESTRUCTURING, TURNAROUND AND INSOLVENCY IN ASIA PACIFIC OCTOBER 2018

Introduction

Welcome to the 3rd edition of Going Concerns where we strive to bring you the latest updates on restructuring and insolvency law. In this issue, we provide:

1. An update on the extent of financial disclosure that may be ordered against a company undergoing a scheme moratorium under s. 211B(6) of the Singapore Companies Act (Cap. 50);

2. A further commentary on the Insolvency, Restructuring and Dissolution Bill; 3. A commentary on the Singapore recognition process of foreign bankruptcies;

This is the twenty-ninth in our series of General Counsel Updates which aim to summarise major developments in key areas.

The BLG Monthly Update is a digest of recent developments in the law which Neil Guthrie, our National Director of Research, thinks you will find interesting or relevant – or both.

Recent Developments

In summary

In our previous alert we discussed how Justice Markovic in the Federal Court of Australia had granted the administrators of retailer Colette Group relief from personal liability for rent in respect of 93 stores.