This quarterly civil fraud update provides a summary of reported decisions handed down in the courts of England and Wales in the period April - June 2021.
CONTEMPT OF COURT
Dario Oscós is widely endorsed for his in-depth insights into creditor rights, insolvency and restructuring proceedings.
Questions & Answers
As the measures in the UK designed to protect businesses from insolvency draw to an end, what guidance can be taken from Australia where similar measures ended a few months ago?
IN RE: GOLF 255, INC. (July 22, 2011)
This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. The message from the case to would-be claimants in other cases is simple: do not “overreach.”In re U Lock, Inc., Case No. 22-20823, 2023 WL 308210, at *1 (Bankr. W.D. Pa. Jan. 17, 2023).
In this issue:
Welcome to our corporate and commercial disputes update, a new bi-annual publication in which we summarise some of the most significant cases over the last six months or so in the corporate and commercial dispute resolution market:
Key takeaways
The revision of the Insurance Supervision Act (ISA) includes new provisions regarding the restructuring framework for insurance companies. Most recently on 3 May 2021, the draft ISA proposed by the government in October 2020 took a first hurdle in parliament. As one of two parliament chambers, the National Council (Nationalrat) discussed and adopted, among other changes, a new set of rules regarding the restructuring of insurance companies that are in financial distress.
Mass tort cases do not usually bankrupt the defendant. But, in the National Prescription Opiate Litigation, three of the defendants have so far declared bankruptcy. The litigation involves the claims brought by thousands of cities, counties, tribes, and other plaintiffs, all consolidated into multidistrict litigation in the Northern District of Ohio (the “MDL”). Their damages, caused by the opioid epidemic, total in the trillions of dollars.
Dear Clients and Friends,
In 2020, domestic and international energy markets were challenged by a worldwide pandemic and its effect on commodity prices, which accelerated disruptions in supply chains and impacted the energy transition in countries around the world.
On April 19, 2021, the United States Bankruptcy Court for the Eastern District of Virginia granted a motion (the “Seal Motion”) filed by the Intelsat S.A. debtors (the “Debtors”) to seal the hearing on the Debtors’ motion to extend exclusivity and motion to compel plan mediation.