Features

Covid-19: Spain introduces second round of insolvency measures

José Carles and Carlos Cuesta, partners at Spanish insolvency and restructuring boutique Carles Cuesta, examine the second round of insolvency-related measures introduced in Spain, one of the countries worst-hit by covid-19.

30 April 2020

Covid-19 calls: BVI partner Richard Brown at Carey Olsen

Featured in Covid-19 calls

"Economic downturns tend to expose companies that have been run fraudulently and in the BVI we tend to see an increase of those cases in the wake of financial shocks". Carey Olsen’s London-based British Virgin Islands partner Richard Brown tells GRR that he expects the fallout from covid-19 to uncover some Ponzi schemes in the coming months.

30 April 2020

Covid-19: Does D&O liability insurance offer protection from insolvency?

Francis Kean, partner at specialist insurance broker McGill and Partners, examines some of the traps into which directors of potentially insolvent companies can fall when it comes to seeking personal liability protection from their directors and officers liability insurance programmes.

29 April 2020

Impact of covid-19 on resolution applicants under the IBC

Supriyo Ranjan Mahapatra, an associate with Trilegal in New Delhi, discusses recent changes made to the Indian Bankruptcy Code 2016 to protect businesses during the pandemic, and suggests ways that resolution applicants can tackle some of the concerns they currently face – from adding force majeure clauses to resolution plans to renegotiating plans on the basis of revised asset valuations.

24 April 2020

Covid-19 calls: Nick Pike at Pinsent Masons in London

Featured in Covid-19 calls

“It is quite plain that we are not going to go back to anything like where we were two months ago.” Pinsent Masons partner Nick Pike tells GRR why he thinks consumer demand will take years to recover from the covid-19 crisis, how the UK government’s emergency measures have staved off an immediate wave of insolvencies, and why working from home might become the new normal.

24 April 2020

Covid-19 calls: Ian Johnson and Tom Vickers at Slaughter and May in London

Featured in Covid-19 calls

“At some point, if they want to start trading again, they are going to need money to rehire their employees and start paying suppliers, and it’s not clear to us how they will get that money”. Slaughter and May’s head of restructuring Ian Johnson and partner Tom Vickers tell GRR about their work advising the UK government on some of its initiatives to deal with the impact of covid-19, the difficulty companies are having trying to access urgent liquidity, and their hopes for the introduction of a new debtor-in-possession financing tool.

23 April 2020

It’s time to give winding up a rewind: from digital to analogue insolvency

Howard Morris, head of business restructuring and insolvency at Morrison & Forester in London, argues we should look to the “analogue” tools of yesteryear – trading administration, provisional liquidation and liquidation – to tackle the nuclear winter that’s set to follow the coronavirus’ economic impact. These tools don’t have to be a death knell for businesses, he says: they can offer shelter and survival.

22 April 2020

Covid-19 calls: Giles Boothman at Ashurst in London

Featured in Covid-19 calls

“The economic legacy is going to be around the excess debt that companies and governments have taken on… that will take a long, long time to pay off." Ashurst's head of restructuring and special situations, Giles Boothman, tells GRR the UK’s economic standstill is bringing restructuring enquires in waves, as clients find it harder to seek liquidity from financial institutions, perform due diligence and find other solutions to restore balance sheet health.

22 April 2020

Covid-19 calls: Susheel Kirpalani and Dennis Hranitzky at Quinn Emanuel Urquhart & Sullivan in New York

Featured in Covid-19 calls

“While our clients are obviously interested in maximising returns for investors, they are also respectful of the fact that countries like Ecuador have to address the incipient public health crisis that is presented by covid-19.” Quinn Emanuel’s Susheel Kirpalani and Dennis Hranitzky discuss the impact of the covid-19 pandemic on sovereign debt workouts in Argentina and Ecuador, and how the US response to the crisis has been marred by political enmities between federal and state governments.

21 April 2020

Covid-19 calls: Natasha Labovitz at Debevoise & Plimpton in New York

Featured in Covid-19 calls

“It is easy to think that things will never be the same, but history repeats itself.” Co-chair of Debevoise & Plimpton’s restructuring group Natasha Labovitz discusses the limitations stopping some businesses from accessing government relief programs, how Debevoise solicited the advice of an epidemiologist to prepare for covid-19, and why US bankruptcy courts might be some of the most innovative courts in the country.

20 April 2020

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