News & Analysis as of

Debt Restructuring Companies Act Insolvency

K&L Gates LLP

Back to the Drawing Board for Restructuring Plans—Part 26A of the UK Companies Act 2006

K&L Gates LLP on

Saipem & Ors v Petrofac Limited and Petrofac International (UAE) LLC [2025] EWCA Civ 821 - Executive Summary: Negotiating Leverage Handed to Out of the Money Creditors - In a sweeping decision, the UK Court of Appeal has...more

Hogan Lovells

Out of the money, but not down and out: UK Court of Appeal overturns Petrofac restructuring plans

Hogan Lovells on

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

Latham & Watkins LLP

Redressing the Balance of Power in Restructuring Plans Petrofac in the Court of Appeal

Latham & Watkins LLP on

The Court of Appeal has reversed the sanction of the Petrofac group’s restructuring plans and allowed the appeal of two dissenting unsecured creditors.Re Petrofac Limited and Petrofac International (UAE) LLC [2025] EWCA Civ...more

Walkers

Cayman Islands Schemes of Arrangement now available for Exempted Limited Partnerships using the Restructuring Officer Regime

Walkers on

A Cayman Islands scheme of arrangement is a court approved compromise or arrangement between a company and its creditors or shareholders (or classes thereof). A scheme of arrangement is frequently used to implement a...more

Hogan Lovells

First English Scheme of Arrangement Recognised in Canada under the CCAA

Hogan Lovells on

In a recent decision, the Ontario Superior Court of Justice recognised the English law schemes of arrangement of the Syncreon group under the Companies’ Creditors Arrangement Act, RSC 1985, c C-36 (“CCAA“). ...more

Morgan Lewis

Singapore Grants First Domestic DIP Financing Application Based on US Law

Morgan Lewis on

The Singapore High Court recently issued the first-ever super-priority order for debts arising from rescue financing under Section 211E(1)(b) of the amended insolvency laws in the Companies Act. The decision shows that the...more

Jones Day

Singapore Enacts New Corporate Bankruptcy Law in Bid to Become Center for International Debt Restructuring

Jones Day on

On March 10, 2017, Singapore's Parliament approved the Companies (Amendment) Bill 2017 (the "Act") to enhance the country's corporate debt restructuring framework. The Act, a copy of which is available here, was assented to...more

Morgan Lewis

Amendments to Companies Act Aim to Transform Singapore into Debt Restructuring Hub

Morgan Lewis on

Singapore’s firm trajectory towards becoming an international hub for debt restructuring received a boost with the Companies (Amendment) Act 2017 coming into force on 23 May 2017....more

K&L Gates LLP

A Bridge Over Troubled Water: Singapore’s New Restructuring & Insolvency Framework Is Being Introduced When It Is Most Needed

K&L Gates LLP on

Further to K&L Gates’ Singapore Restructuring and Insolvency Alert dated 5 December 2016, Singapore’s revised restructuring and insolvency legislation has come into effect. The amendments to the Companies Act, summarised in...more

Jones Day

Singapore Enacts New Corporate Bankruptcy Law to Promote International Debt Restructuring

Jones Day on

On March 10, 2017, Singapore's Parliament approved the Companies (Amendment) Bill 2017 ("Act") to enhance the country's corporate debt restructuring framework. The Act was assented to by President Tony Tan Keng Yam on March...more

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