In turbulent economic times, clients often ask us how they can find out whether a particular company or person is in bankruptcy. While we can run quick searches for this information, there are ways you can find this information on your own. If a quick Google search does not yield results, two resources maintained by the U.S. federal courts are the Multi-Court Voice Case Information System (McVCIS) and Public Access to Court Electronic Records (PACER). The first resource is free, and the second requires setting up an online account for payment of relatively small fees.
The PAS Group decision reaffirms the principle that rent incurred during the administration period takes priority in the winding-up payment waterfall
Re Patrick Cowley and Lui Yee Man, Joint and Several Liquidators of the Company [2020] HKCFI 922(date of judgment: 27 May 2020)
Law of Undue Preference in Malaysia – Section 528(1) of the Malaysian Companies Act 2016 provides that:-
The Australian government has taken swift action to enact new legislation that significantly changes the insolvency laws relevant to all business as a result of the ongoing developments related to COVID-19.
UK insolvency landscape permanently changed by the Corporate Insolvency and Governance Act 2020 (“the 2020 Act”).
On 26 June 2020 the Corporate Insolvency and Governance Act 2020 (“the 2020 Act”) finally entered into force. Now it is in its final form, Simon Newman and Christopher Pask of 1 Chancery Lane’s Commercial, Chancery and Property team will be providing their views on its provisions and their impact over a series of updates.
GOVERNANCE & SECURITIES LAW FOCUS
JULY 2020/EUROPE EDITION
Below is a summary of the main developments in U.S., EU, U.K. and Italian corporate governance and securities law since our last update in April 2020.
See our page dedicated to the latest financial regulatory developments.
IN THIS ISSUE
O QUE É CHAPTER 11?
The relationship between arbitration clauses and winding up proceedings is a contentious issue in many jurisdictions and the debate shows no sign of abating. In the BVI, a recent case has further clarified the effect of an arbitration agreement on creditor's winding up proceedings pursued on the basis of a company's insolvency.