News & Analysis as of

Insolvency Appeals

Bennett Jones LLP

Spartan Delta Appeal Raises Uncertainty for Co-Lessees After Insolvency | Bennett Jones

Bennett Jones LLP on

Years after an insolvency proceeding is closed, can a solvent co-lessee/working interest participant (WIP) still be on the hook for their former partner’s share of unpaid Crown royalties? A recent Alberta Court of Appeal...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

A&O Shearman

Petrofac restructuring plan overturned by the Court of Appeal

A&O Shearman on

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

Cranfill Sumner LLP

NC Court of Appeals Denies Motion to Add Self-Insurance Association in Asbestos Exposure Case

Cranfill Sumner LLP on

In a published decision with a dissent, the NC Court of Appeals denied the Plaintiff’s motion to add North Carolina Self-Insurance Security Association as a party to the claim....more

Akin Gump Strauss Hauer & Feld LLP

Case Comment: Petrofac Restructuring Plans

The Petrofac group, a leading international service provider to the energy and infrastructure industries, has successfully obtained an order sanctioning two inter-conditional restructuring plans (Plans). We explore here the...more

Carey Olsen

Standing room only: a “person aggrieved” under s.273 of the BVI Insolvency Act 2003

Carey Olsen on

In a judgment handed down on 15 April 2025, Stevanovich v Matthew Richardson and another (as Joint Liquidators of Barrington Capital Group Ltd (in Liquidation) [2025] UKPC 18, the Judicial Committee of the Privy Council (the...more

Cadwalader, Wickersham & Taft LLP

“ToMAYto, ToMAHto”: District Court Holds That Differences in State Law Determine Whether Unpaid Annual Pension Contributions...

On March 21, 2025, the U.S. District Court for the Northern District of California affirmed a bankruptcy court’s dismissal of the San Benito Healthcare District’s chapter 9 bankruptcy petition on the grounds that the...more

A&O Shearman

Not just another drop in the ocean: Thames Water and developments in restructuring plans since Adler

A&O Shearman on

In this alert, we take a look at some of the principal points arising from the Court of Appeal’s judgment in respect of the Thames Water restructuring plan, as well as the broader state of play for restructuring plans in the...more

Carey Olsen

Cayman Islands Litigation Guide 2025 (Chambers)

Carey Olsen on

The new guides provide the latest legal information on litigation funding, initiating a lawsuit, pre-trial proceedings, discovery, injunctive relief, trials and hearings, settlement, damages and judgment, appeals, costs,...more

K&L Gates LLP

Confirmation of the Territorial Scope of the Collateral Law

K&L Gates LLP on

Key Takeaway - Luxembourg’s law of 5 August 2005 on financial collateral arrangements, as amended (Collateral Law 2005), continues to offer strong safe-harbor protections for financial collateral arrangements and is now...more

Mayer Brown

Can a Foreign Judgment Debt Directly Give Rise to Insolvency Proceedings in England?

Mayer Brown on

The Court of Appeal has held that seeking satisfaction of a foreign judgment debt using a statutory demand and the spectre of bankruptcy proceedings first requires the judgment to be recognised in this jurisdiction....more

Cozen O'Connor

The Supreme Court of Canada Clarifies the Doctrine of Corporate Attribution

Cozen O'Connor on

On October 11, 2024, the Supreme Court of Canada (the SCC) rendered a decision clarifying the corporate attribution doctrine in the bankruptcy and insolvency context. Aquino v. Bondfield Construction Co.1 involved a dispute...more

Conyers

Segregated Portfolio Companies

Conyers on

Cayman Islands law permits the registration of segregated portfolio companies (“SPC”). An SPC is a single company which segregates its assets and liabilities amongst various “portfolios”. Benefits in adopting the SPC...more

Conyers

All Good Things Must Come to an End: The Cayman Islands Court of Appeal Provides Helpful Guidance on Dissolution Orders

Conyers on

Frequently obtained, but rarely challenged, dissolution orders are an important final step in the process of liquidation. Dissolution represents the end of an official liquidation and the end of a company’s life. In a...more

White & Case LLP

Arbitration and Insolvency: A Comparative View from England & Wales, Singapore and Hong Kong

White & Case LLP on

If the agreement between a creditor and debtor refers disputes to arbitration, what limits should be placed on the creditor to pursue winding-up proceedings based on an unpaid debt under that agreement? Should a court simply...more

Patterson Belknap Webb & Tyler LLP

Courts Split Over Requirement for Chapter 15 Jurisdiction in the U.S.

To file bankruptcy in the U.S., a debtor must reside in, have a domicile or a place of business in, or have property in the United States. 11 U.S.C. § 109(a). In cross border chapter 15 cases, courts have considered whether...more

Conyers

Modified Universalism in the Context of Officeholder Sanction Applications

Conyers on

Russell Crumpler & Christopher Farmer (as Joint Liquidators of Three Arrows Capital Ltd (in Liquidation)) v Three Arrows Capital Ltd (in Liquidation) and BVIHC (Com) 2022/0119 (unreported 26 July 2023) The BVI liquidation...more

Akin Gump Strauss Hauer & Feld LLP

Adler Restructuring Plan Set Aside: Reflections on the English Court of Appeal’s Landmark Ruling

In one of the most highly anticipated judgments in the European restructuring market in recent years, on 23 January 2024, the English Court of Appeal overturned the High Court’s decision sanctioning the Adler restructuring...more

A&O Shearman

The Adler appeal: our key takeaways

A&O Shearman on

The Adler appeal: Our key takeaways from the landmark Court of Appeal judgment setting aside the Adler restructuring plan, and what it means for future restructuring plans - The Court of Appeal has handed down its...more

Hogan Lovells

Adler on Appeal – Adler plan set aside in first ever appeal of an English restructuring plan

Hogan Lovells on

On 23 January 2024, the English Court of Appeal set aside the April 2023 order of the High Court sanctioning the English Part 26A restructuring plan (the “Plan”) proposed by AGPS BondCo plc (the “Plan Company”), a subsidiary...more

A&O Shearman

SGCA sets a limit on debtors invoking arbitration clauses to resist winding up applications

A&O Shearman on

In Founder Group (Hong Kong) Ltd v Singapore JHC Co Pte Ltd (2023), the Court of Appeal set limits on a debtor’s ability to resist a winding up application by pointing to an arbitration clause in the underlying agreement....more

Conyers

Frozen Crypto Assets and a Dissolved Company: The EC Court of Appeal’s Application of Convoy Collateral

Conyers on

In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 (“Convoy”), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered a ground-breaking exposition of the law...more

A&O Shearman

Interpreting the UNCITRAL Model Law on Cross-Border Insolvency: Singapore courts adopt a uniform, consistent and expansive...

A&O Shearman on

Creditors involved in cross-border restructuring or insolvency proceedings of corporate groups will find that the approach of the Singapore courts to questions of cross-border insolvency provides the assurance of an orderly...more

Conyers

Trina Solar: A Warning Regarding Reliance on Merger Price and Deficient Disclosure in s238 Proceedings

Conyers on

The successful appeal by dissenting shareholders in Trina Solar provides key insights into the importance of establishing a robust merger process, the company’s burden to make all relevant information available in appraisal...more

71 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide