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Insolvency Safe Harbors

A&O Shearman

Navigating governance during financial distress

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Financial distress for a company always places additional emphasis on governance—and on the duties of the directors of the company. The Australian legal system has a clear system of duties for directors—a period of financial...more

DLA Piper

Impactful Rulings and Cases Shaping Bankruptcy Law: 2024 Restructuring Recap

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The restructuring landscape in 2024 demonstrated dynamic shifts, with courts across jurisdictions issuing pivotal rulings that helped reshape bankruptcy law....more

Jones Day

French Court Rules on Safe Harbor of Netting Agreements in Insolvency

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For the first time ever, a court in France has examined the compatibility of the statutory netting safe harbor with the French Constitution. The French High Court of Justice (Cour de cassation) addressed the preliminary...more

Walkers

Cayman fund governance in times of market turbulence – 2023 update

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While standard governance principles continue to apply (and should be followed) throughout the lifetime of a fund, the board of directors must be prepared to adapt governance practices and, for example, revisit discussions...more

A&O Shearman

Judge Drain Tackles Private Equity and Fraudulent Transfers in ‘Tops’ Decision

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On October 12, the Honorable Robert D. Drain, U.S. Bankruptcy Judge for the Southern District of New York, issued his final decision from the bench in the bankruptcy cases of supermarket chain Tops Holdings II Corporation...more

Bracewell LLP

Parting Advice: Judge Drain Rules That Dividends Paid From the Proceeds of Safe-Harbored Transactions Are Not Safe-Harbored in In...

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In his final opinion, Judge Robert D. Drain of the United States Bankruptcy Court for the Southern District of New York held that dividends paid from proceeds of safe-harbored transactions under section 546(e) of the...more

A&O Shearman

Restructuring, liquidation and solvent dissolution options in Australia

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Australia has a well-developed and comprehensive legal framework for the restructuring, insolvent liquidation or solvent dissolution of Australian companies – both solvent and insolvent. A number of options are available to...more

McDermott Will & Schulte

Special Report - Out-of-Court Restructuring Alternatives in the European Union, Germany and the United States - November 2020

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The Coronavirus (COVID-19) pandemic has had a huge impact on the global economy and most businesses, creating thousands of companies with urgent restructuring needs. Restructurings are ideally carried out early, quietly, and...more

Nutter McClennen & Fish LLP

Nutter Bank Report, April 2019

FDIC Shares Examiners’ Expectations for Contracts with Technology Service Providers - The FDIC has issued guidance on examiners’ expectations for provisions of contracts between banks and technology service providers...more

Jones Day

Proposed Amendments to Chapter 15 of the Bankruptcy Code

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On August 20, 2018, the National Bankruptcy Conference (the "NBC") submitted a letter (the "Letter") to representatives of the House Subcommittee on Regulatory Reform and the House Committee on the Judiciary that proposed...more

Jones Day

Bill Preparing for a "Hard" Brexit Presented in French Parliament

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The Situation: The French government has presented a new bill in order to prepare for a "Hard" Brexit scenario. The Result: If the United Kingdom leaves the European Union in March 2019 without an overall deal—or with a...more

Jones Day

ASX Releases Continuous Disclosure Guidance on the Insolvent Trading Safe Harbour

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On 9 March 2018, an updated version of the Australian Securities Exchange's ("ASX") Guidance Note 8 came into effect to include guidance on a listed entity's continuous disclosure obligations in the context of the new...more

K&L Gates LLP

ASX Guidance on Continuous Disclosure Obligations in Light of the Safe Harbour Reforms

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In a previous Legal Insight, we foreshadowed potential guidance from the ASX on the interaction between the new insolvent trading safe harbour laws and the continuous disclosure obligations of a public company. On 9 March...more

K&L Gates LLP

Navigating the Safe Harbour – To Disclose or not to Disclose?

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The Safe Harbour reforms that became law on 19 September 2017 aim to create a better environment for the effective corporate rescue of distressed companies. By removing the perceived fear of insolvent trading from directors...more

K&L Gates LLP

I Get Knocked Down, But I Get Up Again

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Australia has long been known for its “have a go” attitude and it appears that this sentiment has been behind major reform in Australia’s restructuring and insolvency laws over the past year. Originally published in INSOL...more

Quinn Emanuel

Business Litigation Report - November 2017

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The Un-Crisis Crisis Law and Strategy Group - No Two Situations Are Alike—That’s the Challenge “How fast can you get to…” “Let’s see. I just got back from London. We’ll be there tomorrow.” As our founder John Quinn...more

Quinn Emanuel

November 2017: Asia-Pacific Litigation Update

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Safe Harbors in, Ipso Facto Clauses out: A (Long Overdue) Shake Up of Australian Insolvency Laws. The federal government has this month passed a suite of insolvency reforms with the consequence of significantly elevating the...more

Morgan Lewis

Reform Comes to Australian Restructuring and Insolvency Law

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Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors. ...more

K&L Gates LLP

Australian Insolvency Reforms - The Harbour Appears Safer Than it Was

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On 1 June 2017, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 (Bill) was introduced to the House of Representatives. The Bill introduces amendments to the Corporations Act 2001 (Cth) (Act) that are...more

K&L Gates LLP

M&A Deal Points

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On 28 March 2017, the Federal Government released its long awaited draft legislation that is designed to encourage restructuring of distressed businesses. The proposed legislation is open for consultation with the...more

K&L Gates LLP

Australian Insolvency Reforms – Is the Harbour Safe Yet?

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On 28 March 2017, the Federal Government released its long awaited draft legislation for reforms to insolvency laws in Australia. The changes focus on providing a safe harbour for directors of distressed companies and a stay...more

Morrison & Foerster LLP

MoFo Tax Talk - Volume 9, No. 2

Editor's Note - Welcome to Tax Talk 9.02. By this fall, we may look back on Q2 2016 with some nostalgia. Of course, there is the U.S. presidential election on November 8th, but U.S. tax advisors right now are more...more

Proskauer - Corporate Defense and Disputes

In Conflict With Other Circuits, Seventh Circuit Rules That Certain Transfers Involving Financial Institution Intermediaries Not...

Section 546(e) of the bankruptcy code prohibits a bankruptcy trustee from avoiding “settlement payment[s]”, or payments “made in connection with a securities contract,” that are “made by or to (or for the benefit of)”...more

K&L Gates LLP

The Harbour is Not Yet Safe – Reform on the Move in Australia

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Following on from the Productivity Commission's Report on Business Set-up, Transfer and Closure, the Australian Government has issued a Proposals Paper entitled Improving bankruptcy and insolvency laws. The paper has...more

K&L Gates LLP

Will the Safe Harbour Ipso Facto Assist with Restructuring in Australia? - Proposed Reform to Australian Insolvency Laws

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The Productivity Commission has handed down its long-awaited report on Business Set-Up, Transfer and Closure (Report) to the Australian Federal Government. Key recommendations from the Report have been embraced by the...more

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