Insolvency/Bankruptcy/Re-structuring

How To Help Financially Distressed Businesses – Questions To Lawyers And Insolvency Specialists From Around The World – Insolvency/Bankruptcy

June 23, 2022 admin No Comments

Author(s): IR Global, Urs Breitsprecher, Balthasar Wicki, Thomas Paoletti, Yves-Marie Ravet, Cherry Bridges, Philippe Termote, Robert Lewandowski, Jennifer Haworth, James Conomos, Ajibola Edwards, Gautam Khurana, Elizabeth S. Dipchand, Nevin Sanli, Francisco Rodríguez-Nepote , Mitchell Carey, Wei Chern Tham, Gwynn Hopkins, David Ricardo Sotomonte Mujica, Peter Antonelli, Thomas H. Curran If the UK is any indication…

Law

Court agrees with administrators decision to reduce a $5 million proof of debt to one dollar – Insolvency/Bankruptcy

June 22, 2022 admin No Comments

To print this article, all you need is to be registered or login on Mondaq.com. In a recent decision of the Federal Court of Australia (Sino Group International Limited v Toddler Kindy Gymbaroo Pty Ltd [2022] FCA 630), administrators were held to have validly admitted a $5 million claim for a nominal value of one…

Law

Nail In The Coffin For Truant Foreign Debtors With Hong Kong Link – Highest Court’s Pragmatic Approach Welcome – Insolvency/Bankruptcy

June 22, 2022 admin No Comments

The Hong Kong Court of Final Appeal has taken a practical approach in interpreting the second core requirement, out of three needed, for a Hong Kong Court to exercise its discretion to wind up a foreign company. Bringing much relief to creditors, it has decided that commercial pressure to achieve repayment of a debt is…

Law

Ontario, Canada Appeal Court Decides Employment Not Continuous For Purposes Of Reasonable Notice Calculation For Employee Dismissed Then Rehired Following CCAA Proceedings – Unfair/ Wrongful Dismissal

June 17, 2022 admin No Comments

Of Antchipalovskaia v. Guestlogix Inc.2022 ONCA 454, the employer appealed a decision that the employee was entitled to 12 months’ notice for her dismissal without cause, which was based in part on a finding that she was continuously employed from 2011 to 2019. The Court of Appeal for Ontario (OCA) allowed the appeal because in…

Law

A Bid To Attract Business: Amendments To Alberta’s Business Corporations Act – Insolvency/Bankruptcy

June 17, 2022 admin No Comments

On May 31, 2022, amendments to Alberta’s Business Corporations Act (the ABCA) (formerly Bill 84) were proclaimed into force. The amendments make significant changes to the ABCA, with the intention of modernizing the ABCA to attract investment and to retain business in Alberta. The amendments to the ABCA include changes to plan of arrangement…

Law

Liability Of Corporate Debtors- India – Insolvency/Bankruptcy

June 16, 2022 admin No Comments

To print this article, all you need is to be registered or login on Mondaq.com. Who is a corporate debtor? A corporate debtor refers to a company, a limited liability partnership or any person who owes a debt to its creditors. Under the Insolvency and Bankruptcy codeonea corporate debtor is liable to the financial and…

Law

Subscription Finance: Rated Note Feeder Funds And Debt Capital Commitments – Securitization & Structured Finance

June 14, 2022 admin No Comments

Insurance company investors are increasingly looking to invest in private equity and similar private investment funds via debt capital commitments (as opposed to traditional equity capital commitments) to take advantage of improved regulatory capital treatment, including under the risk-based capital system established by the US National Association of Insurance Commissioners (the “NAIC”). Fund sponsors have…

Law

IBC And RBI Guidelines Are Two ‘Disjoint Sets’, Question Of Prevalence Of One Over The Other Does Not Arise – Insolvency/Bankruptcy

June 14, 2022 admin No Comments

To print this article, all you need is to be registered or login on Mondaq.com. The National Company Law Tribunal, Kolkata (NCLT), in the recent case of Reserve Bank of India v. SREI Infrastructure Finance Ltd.one, held that the Insolvency and Bankruptcy Code, 2016 (IBC) and the RBI Guidelines do not prevail over each other…

Law

Arbitration Versus The “Single Proceeding Model” In Insolvency Proceedings – Which Prevails? – Arbitration & Dispute Resolution

June 13, 2022 admin No Comments

Overview and Why This Case Matters Of Royal Bank of Canada v Mundo Media Ltdonethe Ontario Superior Court of Justice found the presence of an arbitration clause between two parties did not preclude a court-appointed Receiver in the insolvency proceedings from asserting claims by the debtor against third parties not involved in the insolvency proceedings….

Law

Stopping The Phoenix From Rising: Australian Court Provides First Guidance On Creditor-Defeating Dispositions – Insolvency/Bankruptcy

June 10, 2022 admin No Comments

To print this article, all you need is to be registered or login on Mondaq.com. In Short The Situation: In February 2020, amendments to the Corporations Act 2001 (Cth) expanded the kinds of transactions that may be voidable if a company is being wound up to include asset disposals should be done as part of…

Law