English court finds dividend deal victimises British American Tobacco under Insolvency Act
The High Court of England and Wales has ruled that a €135 million dividend payment from a UK paper company to its French parent is prohibited under the Insolvency Act, as it diverts funds away from satisfying potential environmental liability indemnity payments in the US.
To read more
Subscribe to Global Restructuring Review
Register for limited access
Register to receive our newsletter and gain limited access to subscriber content.
Subscribe to unlock unlimited access
Get news, unique commentary, expert analysis and essential resources from the Global Restructuring Review experts.