News & Analysis as of

Creditors Commercial Litigation

White and Williams LLP

Uniform Law Commission Approves Uniform Assignment for Benefit of Creditors Act

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At its recently concluded annual meeting, the Uniform Law Commission (ULC) voted final approval of the Uniform Assignment for Benefit of Creditors Act (“Act”). Set forth below is a short discussion of “ABCs” as they...more

McDermott Will & Schulte

Eleventh Circuit sides with Fourth, Fifth Circuits on bankruptcy discharge exception split

Addressing a split among bankruptcy courts in their interpretation of whether a corporate debtor, like an individual debtor, is subject to the exceptions to discharge outlined in 11 U.S.C. § 523(a) when confirming a...more

Conyers

Bermuda Supreme Court Sanctions Pre-Winding Up Asset Sale Despite Creditor Opposition

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In a significant decision from the Commercial Division of the Supreme Court of Bermuda, Justice Shade Subair Williams has provided important clarification on the standards applicable when courts are asked to sanction...more

Pillsbury Winthrop Shaw Pittman LLP

VietJet v FW Aviation: Latest Developments

In the context of security assignments, the judgment again emphasises the distinction between day-one assigned rights, on the one hand, and other rights and remedies exercisable only following an enforcement event, on the...more

Morgan Lewis

Singapore High Court Allows Creditor’s Challenge Against Liquidator's Admission of Another Creditor's Proof of Debt

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In the recent case of Park Hotel Group Management Pte Ltd v Aw Eng Hai (in his capacity as a joint and several liquidator of Park Hotel CQ Pte Ltd (in liquidation) and others [2025] SGHC 97, the General Division of the High...more

Conyers

Holt the Press! Developments in SPC Restructuring

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Appointment of Restructuring Officers - In late 2023, in the case of Holt Fund SPC, the Grand Court ordered the first appointment of Restructuring Officers over particular segregated portfolios of a segregated portfolio...more

King & Spalding

S.D.N.Y. Reiterates that the Implied Covenant of Good Faith and Fair Dealing May Not Create Obligations Inconsistent with Parties’...

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On March 25, 2025, the U.S. District Court for the Southern District of New York denied a motion to dismiss a lender’s claims for declaratory judgment and other relief under an intercreditor agreement (“ICA”), rejecting the...more

A&O Shearman

Sanction for scheme of arrangement refused by Hong Kong court: Key takeaways

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Notwithstanding that the requisite statutory majority was obtained in the relevant creditors’ scheme meeting, the Hong Kong Companies Court refused to sanction a scheme of arrangement propounded by a company that professed to...more

Mayer Brown

Managing Sovereign Immunity Risk on a Transaction – What Commercial Parties Need to Know

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AT A GLANCE - State involvement in commercial transactions continues to increase and remains an area of distinct legal risk for commercial parties. The nature of a state's role on any transaction may vary and its...more

Conyers

Cayman Islands Restructuring: Obtaining Consent in a Crisis

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Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable. We are often engaged to assist creditors,...more

Conyers

The Effect of Subordination Agreements in the Event of Insolvency

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Is it possible for a debtor company to issue debt (such as bonds) and contractually agree for that debt to rank lower in priority than debts owed by a company to other unsecured creditors? This article examines the commercial...more

White & Case LLP

The director’s duty to consider creditor interests

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In Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10 (OP3 International)1 the Singapore Court of Appeal considered the trigger for when the director's duty to consider the interests of creditors is...more

Conyers

Update to the Adler High Court Decision: The UK’s Court of Appeal Overturns the High Court’s Approval of the Adler Restructuring...

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Following the English High Court’s written reasons for sanctioning the Adler Group restructuring plan on 21 April 2023, the English Court of Appeal has overturned the High Court’s decision and sent a strong message regarding...more

Conyers

Important Takeaways for Bondholders: Do They Have Rights as Contingent Creditors?

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The Cayman Islands Grand Court recently delivered its judgment in Re Shinsun Holdings (Group) Co., Ltd. FSD 192 of 2022 (DDJ) (21 April 2023) (unreported) (the “Shinsun Judgment”) in which the court determined the ultimate...more

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