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When the clock struck midnight on 25 June, the UK’s restructuring and insolvency regime suddenly looked a lot friendlier for debtors, both temporarily pending the coronavirus’ havoc on the UK economy, and permanently. But does the new legislation rushed through parliament in under a month provide a serious contender to Chapter 11’s crown, or does it merely bring the UK up-to-date with the 1970s as one practitioner suggested?
11 September 2020
Struggling interior design company Design Studio Group has been granted super-priority rescue financing in Singapore, including over pre-petition debts that were incurred before the group filed for insolvency.
24 July 2020
Local practitioners have welcomed Singapore’s “elegant and comprehensive” new Insolvency, Restructuring and Dissolution Act and its 48 pieces of subsidiary legislation, which are set to come into force on 30 July.
24 July 2020
Officials in Abu Dhabi’s financial free zone have enacted amendments to the insolvency framework for its English-language courts, including the addition of new priority financing measures.
16 July 2020
Chinese-owned aviation services company Swissport has won Chapter 15 recognition of its English scheme in Delaware, which has now become effective.
07 July 2020
Oon & Bazul has hired Clifford Chance’s Keith Han as a partner in Singapore, describing him as a “clear leader in his generation”.
30 June 2020
The Corporate Insolvency and Governance Bill has received Royal Assent and is now law, after the UK parliament approved a slew of changes tabled by its upper house this week.
26 June 2020
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