Zone of Insolvency

Zone of Insolvency

Norton Rose Fulbright’s global restructuring group releases the Q4 2022 issue of International Restructuring Newswire

Posted in Financial Restructuring & Insolvency, Global
Our global restructuring team has released its quarterly International Restructuring Newswire. Our new issue features articles from the US, Australia and Canada to help you stay current on recent developments in restructurings in various jurisdictions around the globe. Alto Maipo: Delaware ruling poses jurisdictional challenges for Chapter 11 debtors Financial crime in an economic downturn: tracing… Continue Reading

UK Supreme Court delivers landmark judgment on directors’ duties when a company faces insolvency

Posted in Europe, Financial Restructuring & Insolvency
Why is the decision important? For the first time, the Supreme Court has considered whether there is a common law duty on directors to act in the interests of creditors when a company faces insolvency, but is not yet in an insolvency process (the so-called twilight zone) (the Creditors’ Duty). Unanimously agreeing that such a… Continue Reading

Can restructuring plans strip out third party guarantees?

Posted in Financial Restructuring & Insolvency, UK, Uncategorized
The English High Court has considered whether the new restructuring plan under Part 26A of the Companies Act 2006 (CA 2006) can release claims against third party guarantors. This decision has important implications for guarantors and creditors holding third party security in a restructuring scenario. What was the background? The case had its origins in… Continue Reading

Global bankruptcy, financial restructuring and insolvency group releases the Q3 2022 issue of International Restructuring Newswire

Posted in Financial Restructuring & Insolvency, Global
Global bankruptcy, financial restructuring and insolvency group releases the Q3 2022 issue of International Restructuring NewswireOur global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire.   Our new issue features articles from the US, the Netherlands, Germany/the UK and Australia to help you stay current on recent developments in restructurings in various jurisdictions around the globe. Hong Kong Court comments on the interplay between the Rule in Gibbs and… Continue Reading

Norton Rose Fulbright advises on award-winning airline restructuring deals

Posted in Financial Restructuring & Insolvency
Norton Rose Fulbright is proud to have advised on the following aviation restructuring transactions, which won awards from Airfinance Journal and Airline Economics: We advised Philippine Airlines Inc. (PAL) in connection with its pre-negotiated chapter 11 case which won Airfinance Journal’s 2021 Asia-Pacific Deal of the Year and Airline Economics’ 2021 Asia Pacific Restructuring Deal… Continue Reading

Insolvency insights in South Square Digest special edition with INSOL International

Posted in Australia, Financial Restructuring & Insolvency, Global, UK
This special edition of the South Square Digest features collaborative articles with members of INSOL International, with a particular emphasis on transaction avoidance. Read the latest insights from Scott Atkins, Partner and President of INSOL International; Noel McCoy, Partner and member of INSOL International; and Lee Pascoe, Special Counsel and member of INSOL International. Evidence gathering… Continue Reading

Global bankruptcy financial restructuring and insolvency group releases the Q2 2022 issue of International Restructuring Newswire

Posted in Australia, Bankruptcy Courts, Europe, Financial Restructuring & Insolvency, Global, Singapore, US
Our global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire. Our new issue features articles from Singapore, the US, the Netherlands, Canada, Italy and Australia to help you stay current on recent developments in restructurings in various jurisdictions around the globe.   Recent case law developments in Singapore’s restructuring and insolvency laws show… Continue Reading

Omar Salah appointed to the P.R.I.M.E. Finance Panel of Experts

Posted in Global
Prof. Omar Salah, a partner in Norton Rose Fulbright’s Amsterdam office, has been appointed as expert to the P.R.I.M.E. Finance Panel of Experts. P.R.I.M.E. Finance stands for the Panel of Recognised International Market Experts in Finance, an innovative collaboration launched in January 2012, and established to help resolve, and to assist judicial systems in the… Continue Reading

Omar Salah discusses WHOA in International Insolvency Institute’s Global Perspectives podcast

Posted in Financial Restructuring & Insolvency, Global
On January 1, 2021, the Act on Court Confirmation of Extrajudicial Restructuring Plans, also referred to as the “Dutch Scheme” or “WHOA” (Wet Homologatie Onderhands Akkoord) entered into force. On this episode of Global Perspectives, Omar Salah, a partner in Norton Rose Fulbright’s Amsterdam office, discusses the reasons for the enactment of the WHOA, its key… Continue Reading

Use of public examination powers significantly increased by High Court of Australia

Posted in Australia, Financial Restructuring & Insolvency
In Walton v ACN 004 410 833 Limited (formerly Arrium Limited) (In Liquidation) [2022] HCA 3, the High Court of Australia handed down a decision regarding the purposes for which a Court may summon an officer of a corporation for examination about the corporation’s examinable affairs under s 596A of the Corporations Act 2001 (Act).… Continue Reading