On March 11, 2024, Judge Colm F.

For industry professionals in India, the Insolvency and Bankruptcy Code (IBC), 2016, has been a game-changer. The introduction of a formal framework for insolvency resolution has brought much-needed clarity and efficiency to dealing with financial distress. However, the 2019 Regulations introduced a new dimension - the ability for personal guarantors (PGs) to initiate insolvency proceedings. This has significantly impacted the role of Resolution Professionals (RPs).

Background

The collapse of Carillion in 2018 was arguably the UK's largest corporate insolvency in years, creating a lasting impact through job losses and the derailment of hundreds of public sector projects.

In brief

On 29 February 2024, the court of appeal will hear an appeal against an order for the insolvent liquidation of a company that unsuccessfully argued, at first instance, that the petitioning debt was subject to a dispute covered by contractual agreements to arbitrate. While the interplay between insolvency and arbitration is not a new issue, the upcoming hearing will be the first time after the court of final appeal's decision in Re Guy Kwok-Hung Lam [2023] HKCFA 9 ("Guy Lam") for the court of appeal to clarify the principles.

Here’s a due process question that’s percolating before the U.S. Supreme Court and a related mediation issue:

This overview includes case law since mid-2022 and provides an overview of legal amendments that have a practical impact on national and international contracts.

Insolvency-based rescission clauses

With the increase in global trade and business, often involving complex corporate structures in multiple jurisdictions, we expect to see a significant increase in cross-border insolvency and restructuring matters in coming years. This is especially the case with rapid advancements in technology and digital change driving “borderless” transactions and investments in every industry.

Alice Belisle Eaton and Billy Clareman Discuss Latest Restructuring

Developments at PLI Event

Practising Law Institute’s “Recent Developments in Distressed Debt, Restructurings,

and Workouts 2024” featured restructuring partner Alice Belisle Eaton and

litigation partner Billy Clareman. Co-chair Alice delivered opening remarks and

spoke on “Market Update: Distressed Debt and Restructurings,” “Corporate

Governance, Officer and Director Risks and Claims in Distressed Situations” and

Celsius creditors feeling the heat over preference claims

HFW DISPUTES DIGEST 2023

Welcome to the second annual Disputes Digest, in which we collate our 2023 global HFW LITIGATION and International Arbitration publications in one place.

This edition includes updates from across our Disputes arena, including England and Wales, BVI, AsiaPac, and the Middle East.