English pre-pack appeal changes the game for directors – perspectives from insolvency lawyers in Jersey, Guernsey and Ireland

The spotlight is now back on the role of directors in pre-pack deals following the English High Court’s recent decision on the fiduciary duties directors owe following a company's insolvency. Walkers partners Nigel Sanders, Adam Cole and Gavin Smith consider how those principles translate in the Channel Islands and Ireland.

07 February 2020

Names to know in Spain

Featured in Worked Out

GRR's guide to the firms and individuals you need to know in Spain's restructuring market.

21 January 2020

Spain Worked Out: Spain’s reforms wish list

Featured in Worked Out

A new, consolidated Insolvency Act and the forthcoming transposition of the European preventive frameworks directive offer opportunities for change in Spain. But Spanish practitioners have other issues on their wish lists for reform too, including specific tweaks to the legislation to clarify points of contention, and broader desires, such as better resourcing of the Spanish courts.

21 January 2020

Spain Worked Out: The highs and lows of homologation

Featured in Worked Out

Spain had no pre-petition restructuring tool until 2009. Its first attempt to create one was rather limited. The legislation wasn’t clear on the requirements for the petition itself, and Spanish courts construed it in very different ways, with some interpreting it as granting a temporary moratorium during which the debtor could attempt to strike a deal, but after which it would still be required to enter insolvency proceedings at the end.

21 January 2020

A victim of its own success? Spain Worked Out

Featured in Worked Out

GRR is happy to present the latest instalment in its Worked Out series, this time focusing on Spain - whose scheme mechanism in recent years has gained it a reputation as one of the 'best pupils' of international restructuring.

21 January 2020

Spain Worked Out: Economic stability, political instability

Featured in Worked Out

When GRR visited Spain last June, it was nearly three months after its third general election in as many years – but still without a functioning government – with predictions of a fourth general election and further political instability abound.

21 January 2020

INSOL Insights: Rapid evolution in Chinese bankruptcy and reorganisation

King & Wood Mallesons restructuring partner Sam Kinsey shares her key takeaways from recent insolvency seminars in Beijing and Shanghai. There are positive signs, but considerable uncertainty remains, she says.

14 January 2020

Cross-border Insolvency Protocol in Jet Airways: Innovations and Challenges

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission discusses the cross-border insolvency protocol between the Netherlands and India in the Jet Airways bankruptcy.

08 January 2020

Heads-Up: Debra Dandeneau at Baker McKenzie in New York

Featured in Heads-Up

“It is a confidence game. We sell confidence.” Baker McKenzie’s restructuring and insolvency chair Debra Dandeneau speaks to GRR about the rise of private equity in restructurings, why lawyers need to think about harnessing technology, and how receiverships are being used to create a “shadow bankruptcy process” in the US.

20 December 2019

Changes for financial institutions in Ukraine’s restructuring and recoveries market

Until recently Ukraine has been known as a high-risk country, provoking creditors’ fears of being caught up in a default with zero prospect of recovery. But Iryna Kalnytska, head of the restructuring and claims practice at Ukrainian firm GOLAW, says the situation has changed substantially over the past few years with reforms to Ukraine’s Bankruptcy Code and new legislation on creditors’ rights.

13 December 2019

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