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Bankruptcy Court Scheme of Arrangement

Jones Day

New York Bankruptcy Court Recognizes English Scheme of Arrangement Proceeding Under Chapter 15 Despite Concerns of Improper COMI...

Jones Day on

Approaching its 20-year anniversary, chapter 15 of the Bankruptcy Code has proven to be an invaluable tool for facilitating cross-border bankruptcy and insolvency cases. As foreign debtors have increasingly relied on chapter...more

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

Latham & Watkins LLP on

Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Barnea Jaffa Lande & Co.

Israel: Court-Ordered Insolvency Proceedings Are a One-Way Street

A company in financial distress has three main rehabilitation and debt arrangement channels. Each of these channels entails advantages and disadvantages. Applying to the court for relief during the rehabilitation of a company...more

Latham & Watkins LLP

Cross-Border Recognition: Hong Kong Schemes and the Compromise of Foreign Law-Governed Debt

Latham & Watkins LLP on

Judicial comments cast doubt on the ability to compromise US law-governed debt effectively based on Chapter 15 recognition alone. A recent first instance decision in Hong Kong has highlighted an important...more

Patterson Belknap Webb & Tyler LLP

Chapter 15: US Court Respects UK Scheme of Arrangement: Third-Party Releases Enforced

Judge Martin Glenn granted recognition to a UK scheme of arrangement with third-party releases that lacked full creditor consent. In re Avanti Communs. Grp., PLC, No. 18-10458, 2018 Bankr. LEXIS 1078 (Bankr. S.D.N.Y. Apr. 9,...more

K&L Gates LLP

Orion and London and Overseas Scheme Administrators Announce Bar Date for Filing Claims Under Newly Approved Amending Scheme

K&L Gates LLP on

Our Alert dated December 1, 2015 discussed the High Court of Justice of England and Wales’ approval of the proposed Amending Scheme of Arrangement for OIC Run-Off Limited (formerly the Orion Insurance Company limited)...more

K&L Gates LLP

High Court Approves Amending Scheme for Orion and London and Overseas

K&L Gates LLP on

On October 29, 2015, the High Court of Justice of England and Wales (“High Court”) issued an order (“Order”) approving an Amending Scheme of Arrangement (“Amending Scheme”) for two insolvent London Market insurers, OIC...more

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