The Courts, practitioners and leading textbooks have always assumed that the Limitation Act 1980 (the Limitation Act) does not apply to claims for relief from unfair prejudice under section 994 of the Companies Act 2006 (the Companies Act).
In THG Plc v Zedra Trust Company (Jersey) Limited [2024] EWCA Civ 158, the Court of Appeal examined the basis for that assumption and unanimously decided that:
The Supreme Court of NSW refused to validate the appointment of a voluntary administrator (Administrator) to Premier Energy Resources Pty Ltd (Company) under section 447A of the Corporations Act 2001 (Cth) (Act) after the Administrator failed to investigate allegations of fraud surrounding his appointment.
The American Bankruptcy Institute’s Subchapter V Task Force has issued its “Preliminary Report” on “Maintaining the $7,500,000 Debt Cap for Subchapter V Eligibility.” This article quotes from and summarizes the Report.
Recommendation
The Task Force recommends making permanent the $7,500,000 debt cap for Subchapter V eligibility, which is set to expire and revert to $3,024,725 on June 21, 2024.
Supporting Factors
In brief
The Act of 7 August 2023 on the preservation of businesses and the modernization of bankruptcy law, which came into force on 1 November 2023 ("Act"), has been met with great relief and enthusiasm from practitioners and businesses alike. It finally offers alternatives to the systematic bankruptcy of a company that is unable to pay its debts for lack of liquidity, despite the existence of assets or medium-term growth potential.
Whether a solar system is a “fixture” sounds like a mundane legal issue – but it has significant implications for the residential solar industry and for the financing of residential solar systems. If a system is regarded as a “fixture” of the house to which it is attached, then the enforceability and priority of the finance company’s lien on the system will be subject to applicable real estate law.
DLA Piper Hong Kong Financial Services Dispute Quarterly Law Report – February 2024 2 DLA PIPER HONG KONG FINANCIAL SERVICES DISPUTE QUARTERLY LAW REPORT – FEBRUARY 2024 Foreword Welcome to the second edition of the DLA Piper Hong Kong Financial Services Dispute Quarterly Law Report.
According to a February 22 ruling by the Bankruptcy Court for the Southern District of New York, foreign banks with a U.S. branch or agency are ineligible for Chapter 15 recognition.
The long-awaited amendment "H" of the Slovenian Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act (the "Act") entered into force on 1 November 2023. The new provisions complete the transposition of Directive 2019/1023,[1] introducing three crucial sets of changes to the Slovenian insolvency and restructuring legislation.
On February 21, 2024, the Hon’ble National Company Law Appellate Tribunal, Chennai (“NCLAT”) in the case of Kiran Martin Gulla RP of Vardharaja Foods Pvt. Ltd. held that when an extension to complete the corporate insolvency resolution process (“CIRP”) is granted by the Adjudicating Authority, then such period will be calculated form the date on which the Adjudicating Authority passes such an order.
Brief Facts
Ein Überblick über Inhalt und Anforderungen der planergänzenden Sanierungsinstrumente des StaRUG zum zielgerichteten Einsatz in der Praxis.