Restructuring & insolvency
October 2021 | SPECIAL REPORT: RESTRUCTURING & INSOLVENCY
Financier Worldwide Magazine
October 2021 Issue
Q&A: Tackling post-pandemic corporate zombies
FW discusses how to tackle post-pandemic corporate zombies with George Dale, Nick Hood, Nicholas Parton, Steve Parker and John Thompson at Opus.
Chapter 11: an increasingly popular tool for foreign companies seeking to restructure or liquidate
Cleary Gottlieb Steen & Hamilton LLP Foreign companies are increasingly opting to file for Chapter 11 bankruptcy protection in the US rather than utilising local insolvency regimes to restructure their business, sell assets or even liquidate. Over the past year, more than a dozen large foreign corporations…
Canada’s highest court upholds the priority of financing charges in restructuring proceedings
Norton Rose Fulbright Canada LLP On 28 July 2021, the Supreme Court of Canada (SCC) upheld an Alberta Court of Appeal majority decision giving priority to court-ordered charges in restructuring proceedings, including secured charges in favour of interim lenders, over the Crown’s statutory deemed trusts…
The rise of the reverse vesting order in Canada
Davies Ward Phillips & Vineberg LLP A much-noted 2020 restructuring development in Canada was the re-emergence of the reverse vesting order (RVO) to facilitate sales in Companies’ Creditors Arrangement Act (CCAA) proceedings (Canada’s functional equivalent to Chapter 11 in the US). RVOs have been approved…
Over a year on – the new restructuring plan in action
Eversheds Sutherland The addition in June 2020 of a supercharged scheme of arrangement process, the so-called new restructuring plan introduced under the Corporate Insolvency and Governance Act 2020, was a game changing event for the UK’s restructuring toolkit. This new tool will likely sit alongside…
A year in review: the Part A1 moratorium
Reynolds Porter Chamberlain It is now over a year since the Part A1 standalone moratorium process (moratorium) was introduced by the 2020 Corporate Insolvency and Governance Act (CIGA). The moratorium is a director-led process intended to provide a company in financial distress with a period of breathing space…
Boies Schiller Flexner (UK) LLP Readers will no doubt be familiar with Socimer and Braganza-style duties in relation to a contractual discretion, and the much-discussed but little-applied limitations on majority power imposed by Redwood and Assenagon. In this article, we consider how those duties may impact…
Identifying early signs of distress and taking action
BM&T Anybody using social media will have seen ‘Top 10’ lists. They have been applied to almost everything, including signs of business distress. Most top 10 signs of distress will list such things as declining revenues, making losses, arrears on supplier and HMRC payments, increased…
Quinn Emanuel Urquhart & Sullivan, LLP In Australian distressed debt scenarios, large private and listed companies teetering on the verge of insolvency generally face two options: (i) refinancing their debt and securing (further) outside investment for working capital; or (ii) resolving to put the company under external…
Q&A: Distressed real estate litigation and restructuring
FW discusses distressed real estate litigation and restructuring with Brent Worthy and Kristi Gibson at BDO.
CONTRIBUTORS
BDO
BM&T
Boies Schiller Flexner (UK) LLP
Cleary Gottlieb Steen & Hamilton LLP
Davies Ward Phillips & Vineberg LLP
Eversheds Sutherland
Norton Rose Fulbright Canada LLP
Opus
Quinn Emanuel Urquhart & Sullivan, LLP
Reynolds Porter Chamberlain