Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Beware the boilerplate: unused definition leads to unintended consequences
    2012-01-19

    Rayford Homes granted security to two lenders, its trustee shareholder and the Bank of Scotland (BoS). The parties entered into an intercreditor agreement (ICA) using the BoS standard form. In a schedule to that agreement was a definition of the term ‘BoS Priority’ over ‘BoS Debt’ up to a monetary limit. The amount was not filled in, nor was the term ‘BoS priority’ actually used in the ICA.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP
    Location:
    United Kingdom
    Firm:
    Borden Ladner Gervais LLP
    Director of unincorporated association personally liable for association’s breach of contract
    2011-12-16

    An English rugby club (an unincorporated association of its members) engaged the services of Barnes Webster & Sons (BWS), a construction company. The club’s treasurer signed the contract, which was witnessed by Davies, the club’s president. The club agreed to pay BWS a fixed price plus additional amounts for certain variations in the work, should they arise. The variations were required, but the club did not pay the £147,000 bill for them that BWS presented. BWS made a demand on Davies personally, which he moved to set aside.

    Filed under:
    United Kingdom, Construction, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Breach of contract, Voluntary association
    Location:
    United Kingdom
    Firm:
    Borden Ladner Gervais LLP
    Lehman derivatives transaction did not run afoul of fraudulent conveyance rules, says UKSC
    2011-09-29

    In 2002 a European subsidiary of Lehman Brothers created a complicated synthetic debt structure called Dante, which was intended to provide credit insurance for another subsidiary, LBSF, against credit events affecting certain reference entities, the obligations of which formed the reference portfolio. A special purpose vehicle issued notes to investors, the proceeds of which were used to purchase collateral which vested in a trust. The issuer entered into a swap with LBSF under which LBSF received the income on the collateral and paid the issuer the amount of interest due to noteholders.

    Filed under:
    United Kingdom, Banking, Derivatives, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Collateral (finance), Interest, Swap (finance), Debt, Good faith, Common law, Default (finance), Subsidiary, Lehman Brothers, UK Supreme Court, Trustee
    Location:
    United Kingdom
    Firm:
    Borden Ladner Gervais LLP
    That comfort letter may be of limited comfort
    2013-06-11

    Punj Lloyd Ltd (PLL), the ultimate parent of Simon Carves Ltd (SCL), provided 'letters of support' (what would in North America be called 'comfort letters') indicating to the board of SCL that PLL would 'provide the necessary financial and business support to ensure that [SCL] continues as a going concern'. This is precisely what SCL did not do: it went into administration, leaving invoices unpaid and unsecured creditors largely out of luck.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP
    Location:
    United Kingdom
    Firm:
    Borden Ladner Gervais LLP
    UK Supreme Court complicates international insolvencies
    2012-12-19

    The central question in Rubin v Eurofinance SA, [2012] UKSC 46, was whether the English courts ought to recognise the order or judgment of a foreign court to set aside transactions determined to be preferential or to have been at an undervalue, in circumstances where the defendant in the foreign proceedings was not present in the foreign jurisdiction or had not voluntarily submitted to its courts.

    Filed under:
    Canada, United Kingdom, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Comity, UK Supreme Court
    Location:
    Canada, United Kingdom
    Firm:
    Borden Ladner Gervais LLP
    BLG Monthly Update
    2012-12-19

    The BLG Monthly Update is a digest of recent developments in the law which Neil Guthrie, our National Director of Research, thinks you will find interesting or relevant – or both.

    Filed under:
    Argentina, Australia, Canada, United Kingdom, USA, Capital Markets, Company & Commercial, Employment & Labor, Healthcare & Life Sciences, Insolvency & Restructuring, Intellectual Property, Legal Practice, Litigation, Media & Entertainment, Private Client & Offshore Services, Public, Tax, Borden Ladner Gervais LLP
    Location:
    Argentina, Australia, Canada, United Kingdom, USA
    Firm:
    Borden Ladner Gervais LLP
    U.S. and U.K. expand cooperation in unwinding failed banks
    2010-01-25

    On January 22nd, the FDIC and the Bank of England announced their agreement to a memorandum of understanding, expanding their cooperation when they act as resolution authorities in resolving troubled deposit-taking financial institutions with activities in the United States and United Kingdom. FDIC Press Release.

    Filed under:
    United Kingdom, USA, Banking, Insolvency & Restructuring, Winston & Strawn LLP, Federal Deposit Insurance Corporation (USA)
    Location:
    United Kingdom, USA
    Firm:
    Winston & Strawn LLP
    Aircraft Lessors Should Prepare for UK Restructuring Processes
    2022-06-13

    Key Points

    • The use by Malaysia Airlines' subsidiary, MAB Leasing Ltd. (incorporated in Malaysia) ("MABL"), in 2021, of an English Scheme of Arrangement (a "Scheme") to compromise its aircraft lease obligations proved that US Chapter 11 is not the only route to a globally recognised compromise of airline leases.
    • Airline lessors should now prepare themselves for Schemes (and possibly also other English restructuring processes) as an alternative to Chapter 11.

    Background

    Filed under:
    European Union, United Kingdom, Insolvency & Restructuring, Public, Katten Muchin Rosenman LLP, Brexit, Coronavirus
    Authors:
    Prav Reddy , Peter A. Siddiqui , Sonya Van de Graaff
    Location:
    European Union, United Kingdom
    Firm:
    Katten Muchin Rosenman LLP
    UK Crown Preference Returns - Creditors Beware!
    2020-04-16

    Background

    In the 2018 Autumn Budget, the Chancellor announced his intention to reintroduce Crown Preference with effect from 6 April 2020. Due to the attempts to prorogue Parliament and the General Election last year, the necessary legislation was not passed. However, it has now been introduced in the Finance Bill 2020, with the later start date of 1 December 2020.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Tax, Katten Muchin Rosenman LLP, Due diligence, HM Revenue and Customs (UK)
    Authors:
    Charlotte Sallabank
    Location:
    United Kingdom
    Firm:
    Katten Muchin Rosenman LLP
    COVID-19 - Temporary Relaxation of UK Insolvency Laws
    2020-04-07

    Cash flow and current and future liquidity are now real concerns for many businesses during this COVID-19 pandemic. Increasingly, the attention of directors and the wider economic ecosystem is turning to consider the issues of approaching insolvency and the duties of directors.

    In line with the current approach of the UK Government to support businesses, on Saturday, 28 March, the Business Secretary, Alok Sharma, announced that UK wrongful trading insolvency laws are to temporarily change to help give businesses and directors some "breathing space".

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Coronavirus
    Location:
    United Kingdom
    Firm:
    Katten Muchin Rosenman LLP

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 1334
    • Page 1335
    • Page 1336
    • Page 1337
    • Current page 1338
    • Page 1339
    • Page 1340
    • Page 1341
    • Page 1342
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days