Foreign and comparative lawBy Donald Thomson (University of Dundee and Thorntons LLP )Is insolvency stigmatised? And if so, to what degree? The answers to these questions are central to understanding company, and by extension, director responses to corporate insolvency,…
Foreign and comparative lawBy Małgorzata Olech and Marcin Wnukowski (Squire Patton Boggs)The statistics are clear that the number of restructuring proceedings in Poland is on rise. Among the types of restructuring proceedings available in Poland, the procedure for…
Singapore insolvency and restructuring lawBy Pierre Dzakpasu and Anne Jesudason (Mayer Brown) IntroductionSingapore's debtor-in-possession (DIP) financing regime, introduced in 2017, allows distressed companies to obtain new financing with super-priority status over existing…
Foreign and comparative lawBy Małgorzata Olech and Marcin Wnukowski (Squire Patton Boggs)Amid the current market uncertainties, distressed asset sales are likely to rise. International investors are looking for efficient solutions, preferably ones that reflect…
Cross-border insolvency, Insolvency and alternative dispute resolutionBy Manuel Penades (King's College London)IntroductionSince 2019, Working Group V of UNCITRAL has been working on the adoption of a choice of law instrument that regulates the law applicable to the international effects of insolvency proceedings. The…
Foreign and comparative law, Insolvency and technologyBy Mark Salzberg and Kyle Arendsen (Squire Patton Boggs)On June 26, 2024, the bankruptcy court presiding over the FTX Trading bankruptcy issued a memorandum opinion[1] addressing valuation of cryptocurrency-based claims and how to “…
Foreign and comparative lawBy Mark Craggs and Helen Coverdale (Norton Rose Fulbright)OverviewThe English High Court has ordered[1] two directors (the Directors) of four companies in the British Home Stores group (BHS) to make payments exceeding £18 million in…
Foreign and comparative lawBy Richard J. Cooper, David Z. Schwartz, Brad Lenox and Sara Watson (Cleary Gottlieb)IntroductionOn November 20, 2023, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) issued a ruling dismissing…
Foreign and comparative lawBy Robert D. Drain, Shana A. Elberg, Evan A. Hill and Jaclyn F. Kleban (Skadden)IntroductionDIP loans that provide the option to convert into equity of the reorganized debtor, functioning like a rights offering, are becoming increasingly…
Cross-border insolvency, Foreign and comparative lawBy Francisco Vazquez (Norton Rose Fulbright)IntroductionChapter 15 of the United States Bankruptcy Code implements the Model Law on Cross-Border Insolvency in the US, and provides “effective mechanisms for dealing with cases of cross-border…