Written by - Thomas H. Curran
As cross-border insolvencies continue to evolve, a notable shift is emerging in how complex restructurings are being executed. While Chapter 11 has long been the dominant forum for large corporate reorganizations, an increasing number of companies - particularly those with international capital structures - are turning to foreign restructuring regimes as a primary venue, with Chapter 15 serving as the mechanism to extend those proceedings into the United States.
Summary
[2026] EWHC 819 (Ch)
InstaGroup makes insulation materials and subcontracts the installation of those materials to third parties, such as Northwest, who entered into creditors’ voluntary liquidation in August 2025. Mr Stansfield was a director of Northwest from 27 August 2008 until 19 April 2022. InstaGroup alleged that Northwest breached an agreement dating from 2013, and claimed over £3 million against Northwest. InstaGroup made a claim against Mr Stansfield based on the terms of a Guarantee entered into in 2008.
Connected party transactions - transactions entered into between a company and persons or entities with a close relationship to it (such as directors, shareholders or group companies) - attract heightened scrutiny under the Insolvency Act 1986 (the Act). This is because connected parties are not independent of the transferring company and are often in a position to influence its decision‑making, giving rise to an increased risk that assets are transferred on non‑arm’s‑length terms.
There are currently 45 digital asset businesses operating in Bermuda with a license from the Bermudan Monetary Authority (the BMA).
It is not uncommon for a claimant who has issued a professional negligence claim to realise, once limitation has expired, that he has sued the wrong defendant. One potential escape route for claimants in this predicament was shut down on Friday 6 February 2026 by the Court of Appeal in the conjoined appeals in Adcamp LLP v Office Properties and BDB Pitmans v Lee [2026] EWCA Civ 50.
The statutory restructuring plan mechanism, introduced by the Corporate Insolvency and Governance Act 2020, introduced a flexible, court-sanctioned tool to rescue financially distressed businesses. The take-up in England and Wales has been widespread, with several well-known names having plans approved. However, despite being available since summer 2020, Scottish restructuring plans remain remarkably rare.
There is something to be said for “assume the worst” when it comes to defects in administration appointments and extensions. The court has taken this approach in a few cases where, rather than trying to work out the intricacies and effect of a defect on an appointment or extension, it has assumed the worst (i.e invalidity) and made a retrospective order to remedy the position.