On 1 July 2025, the Court of Appeal handed down its judgment overturning the twin restructuring plans proposed by Petrofac Limited and Petrofac International (UAE) LLC under Part 26A of the Companies Act 2006 (the plans)....more
7/9/2025
/ Appeals ,
Companies Act ,
Corporate Counsel ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Financial Distress ,
Insolvency ,
Joint Venture ,
Lenders ,
UK
On Friday 21 April 2023, the English High Court (Mr Justice Leech) handed down its reasons for sanctioning the Part 26A restructuring plan (the “Plan”) between AGPS BondCo plc (the “Plan Company”) and six classes of its...more
Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday 10th March 2023. SVB’s UK operations were conducted through its subsidiary, Silicon Valley Bank UK Limited (SVBUK). ...more
On 28 June 2022 the Insolvency Service published a report it had commissioned from RSM UK to assess the impact that CVAs were having on commercial landlords (the “Report”). The Report was commissioned in response to a number...more
Smile Telecoms, which last year implemented the first restructuring plan for a cross-border African business, has now achieved another first by using section 901C(4) of the Companies Act 2006 to exclude all bar one class from...more
The UK Government yesterday announced that it will proceed with the phasing out of temporary measures introduced to protect businesses from creditor action during the COVID-19 pandemic, whilst also announcing new measures to...more
On 26 November 2020, the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (the “Regulations”) came into force....more
On 8 October 2020, the Insolvency Service published the outcome of its review of industry reforms to pre-pack sales in administration and made recommendations which will impact the way in which pre-pack sales to connected...more