News & Analysis as of

Debt Restructuring United Kingdom Financial Distress

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

Ropes & Gray LLP

European restructuring in 2025: four trends shaping the legal landscape

Ropes & Gray LLP on

At the GRR: Women in Restructuring 2025 conference, leading practitioners dissected the year’s most significant developments in global insolvency and restructuring. Here, we distill the essential legal and market insights...more

K&L Gates LLP

UK Company Restructuring Plans: What Is Next After Adler?

K&L Gates LLP on

The England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a...more

K&L Gates LLP

The Position of Directors of Financially Distressed Companies

K&L Gates LLP on

The UK Supreme Court has delivered its long awaited judgment in BTI v Sequana. It considers if and when directors of a financially distressed company incorporated in England and Wales have a duty to consider, or to act in...more

Latham & Watkins LLP

Restructuring with Regulators: Where Law and Policy Collide

Latham & Watkins LLP on

Balancing the urgency of delivering a restructuring with regulatory requirements in a regulated sector. Restructuring a company in a regulated sector is always challenging. Navigating directors’ duties is difficult...more

Cadwalader, Wickersham & Taft LLP

Summer's Coming, May 2021 | Issue No. 24A - Further Blow to the Landlords? The Virgin Active Case and the New Restructuring Plan...

It’s not news that the COVID-19 pandemic has exacerbated losses in sectors that are reliant on footfall − namely, the retail and leisure industry. Prior to the pandemic, the general weakness in the “bricks and mortar” retail...more

Goodwin

The Return of Crown Preference on 1 December, 2020

Goodwin on

The return of Crown Preference on 1 December, 2020 has widely united the restructuring community against the new measures. Whilst the rationale that the Treasury should have priority for sums received by a debtor on its...more

McDermott Will & Emery

Special Situations and the UK Corporate Insolvency and Governance Act

The enacted Corporate Insolvency and Governance Act (the Act) introduces three permanent reforms to the existing insolvency legislation and certain temporary measures designed to address the immediate impact of COVID-19 on UK...more

Dorsey & Whitney LLP

COVID-19: UK Insolvency and Restructuring

Dorsey & Whitney LLP on

At the present time, due to the global outbreak of Covid-19 and the international response to it, many otherwise economically viable UK businesses find themselves subject to considerable financial pressure. There are a...more

Morgan Lewis

UK Corporate Insolvency and Governance Act 2020: Protection for Cape Town-Registered Interests

Morgan Lewis on

The Corporate Insolvency and Governance (CIG) Act 2020, which was enacted on 25 June 2020, introduces a number of permanent changes to the insolvency and restructuring framework in the United Kingdom, some of which have...more

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