Features
Cayman restructuring reform and its relevance to the US market
In the first article of a three-part series, Harneys partners Nick Hoffman and Paul Madden and associate Rhiannon Zanetic examine forthcoming changes to the Cayman Islands’ restructuring regime and how they have been designed to work in cooperation with the US Bankruptcy Code and other UNCITRAL Model Law jurisdictions.
31 May 2022
The Model Law on Cross-Border Insolvency: a silver lining but not a silver bullet
On the 25th Anniversary of UNCITRAL's adoption of the Model Law for Cross-Border Insolvency, INSOL International president Scott Atkins and International Insolvency Institute president John Martin explain why it reflects a silver lining but not a silver bullet for modified universalism and harmonisation.
30 May 2022
Luckin Coffee JPLs: “Trust and transparency was key”
Alvarez & Marsal’s Tiffany Wong and Alex Lawson tell GRR about the challenges they faced as Chinese coffee chain Luckin Coffee’s joint provisional liquidators, how they got the complex restructuring over the line and why ESG considerations are not yet having a huge influence in the restructuring space.
19 May 2022
The new Austrian Restructuring Code in the light of Germany’s StaRUG and the Dutch WHOA
Matthias Stipanitz and Stephanie Rendl at Preslmayr Attorneys at Law in Vienna assess Austria’s implementation of the EU’s preventive restructuring frameworks directive, giving a quick comparison with the implementation in Germany and the Netherlands.
17 May 2022
Second time lucky for Smile Telecoms’ groundbreaking restructuring plan
Partner Mark Fine and senior associate Nicholas Jupp at McDermott Will & Emery in London examine two novel aspects to the restructuring plan that the English High Court sanctioned for African telecoms group Smile earlier this year: its exclusion of out-of-the-money creditors, and the fact it varied the rights of a foreign company’s shareholders.
11 May 2022
European column: Heiploeg judgment – European Commission, your move!
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses the consequences of a recent judgment from the Court of Justice of the European Union, which is important for pre-pack sales and employees alike – and suggests it should be taken into account in the EU’s next round of harmonisation measures.
09 May 2022
A cross-jurisdictional outlook for restructuring and recovery
Ogier partners Christian Burns-Di Lauro and Ray Wearmouth in the British Virgin Islands, and Mathew Newman in Guernsey, consider whether the outlook is really not so good from a global restructuring perspective, as pandemic-related government support measures come to an end and the geo-political climate brings high inflation and rising energy costs.
27 April 2022
Europe column: independent territorial insolvency proceedings under the recast Insolvency Regulation
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses what happens in the rare case that a territorial insolvency proceeding is opened prior to any main insolvency proceedings.
12 April 2022
Europe column: On the parity of main and secondary insolvency proceedings in the EU
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses the interrelationship between main and secondary proceedings, and the rights of the dominant “main” insolvency practitioner under EU law.
17 March 2022
The UK’s new pre-pack regulations and creditor protection
Radcliffe Chambers’ James Morgan QC takes a close look at the regulations on connected pre-packs introduced in the UK last year – and explains why the protection they offer creditors could be illusory.
08 March 2022