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Creditors Insolvency Financial Services Industry

A&O Shearman

Petrofac restructuring plan overturned by the Court of Appeal

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In this alert, we consider the Court of Appeal’s judgment setting aside Petrofac’s restructuring plan sanction order, which marks the second occasion on which the Court of Appeal has overturned a previously sanctioned plan...more

Cooley LLP

Are You in This Party? The Scope of Section 213 of the Insolvency Act 1986

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The UK Supreme Court recently handed down a judgment in Tradition Financial Services Ltd v Bilta (UK) Ltd & Others in which it considered the scope of section 213 of the Insolvency Act 1986, specifically whether those beyond...more

Walkers

Jersey – Creditor-Driven Winding up Regime in Jersey

Walkers on

Changes to the Companies Law in 2022 have increased the options available to creditors of insolvent Jersey companies - A creditor is now able to apply to the Jersey Court to wind up a company a liquidated claim against a...more

Cadwalader, Wickersham & Taft LLP

European Restructuring: 2024 in Review and Outlook for 2025

Market - overview Whilst Europe did not witness the flood of restructuring and insolvencies some had predicted at the start of the year, 2024 was a significant year nonetheless. Many commentators now predict an extended...more

Kilpatrick

First Republic Executives Fail in Attempt to Recover Nonqualified Deferred Compensation Plan Assets

Kilpatrick on

A federal court has rejected an attempt by former First Republic Bank employees to recover assets held in a rabbi trust that funded deferred compensation benefits. In Harrington v. Federal Deposit Insurance Corporation, the...more

Troutman Pepper Locke

How Can I Claim a Business Bad Debt Deduction? - Creditor's Rights Toolkit

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The Internal Revenue Code permits a business bad debt deduction when a customer fails to pay for the services rendered or the products supplied by your business. However, the ability to claim an ordinary deduction with...more

White & Case LLP

The rise of Private Credit in the United Arab Emirates

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As creditors continue to look across the global market for strategic opportunities, the United Arab Emirates (the "UAE") is primed to emerge as a relatively untapped well of potential for private credit providers....more

Alston & Bird

European Enforcement Guide

Alston & Bird on

In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Troutman Pepper Locke

New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook - The Consumer Finance Podcast

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Please join Consumer Financial Services Partner Chris Willis and his colleagues Deborah Kovsky and Tom Tilton as they discuss new pending legislation — the Consumer Bankruptcy Reform Act — as well as the general, overall...more

Morgan Lewis

Update: Draft Law on External Management over Certain Foreign-Owned Companies Submitted to Russian Parliament

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The draft law on external management was submitted to the Russian Parliament and differs considerably from the previous version. The new draft provides for the establishment of a special interdepartmental commission that will...more

Morgan Lewis

Update: Russia Reintroduces Insolvency Moratorium

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An insolvency moratorium first introduced during the COVID-19 pandemic applies to nearly all Russian legal entities, individuals, and sole entrepreneurs, and bans the commencement of insolvency proceedings against Russian...more

Morgan Lewis

HM Revenue & Customs to Get Preferential Status as of 1 December 2020

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With effect from 1 December 2020, the UK’s HM Revenue & Customs will be given preferential creditor status for certain taxes which a company has collected but failed to pay to HMRC on the date it enters insolvency. This was...more

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