The ruling confirmed that Section 423 of the Insolvency Act 1986 has extensive international reach, and does not require a transaction at an undervalue to leave the debtor with insufficient assets.
Background -
The...more
Successfully executing an acquisition from stress, distress, or insolvency requires a creative approach to reconcile competing interests. ...more
The Corporate Insolvency & Governance Act introduces temporary and permanent changes to UK insolvency and restructuring laws.
On 28 March 2020, the UK government announced a number of reforms to UK insolvency...more
Given the many fast-paced UK government announcements of COVID-19-related measures, this Client Alert provides a summary, as of 28 March 2020, of the proposed changes to UK insolvency laws.
As of 28 March 2020, the UK...more
Ruling provides helpful reminder to directors, companies, and creditors that Section 423 of the Insolvency Act 1986 applies even outside of insolvency.
Background -
The UK Court of Appeal has upheld a decision that a...more
Section 423 of the Insolvency Act 1986 continues to be a useful tool available to creditors for challenging transactions at an undervalue.
Section 423 gives the English court the power to set aside a transaction (most...more
Schemes of arrangement are a well-known and familiar tool for many within M&A. They are often used to implement acquisitions of public or widely held companies or restructurings of financial indebtedness, frequently as part...more
Ruling confirms majority noteholder should not be disenfranchised from voting -
The English High Court held that it had jurisdiction in a cross-border dispute involving the Norske Skog group (Norske Skog), and confirmed...more