Shareholders, Creditors, UK Insolvency Act

Cram-across: Sino-Ocean Restructuring Plan Makes Waves

Latham & Watkins LLP on 2/14/2025

The evolution of the English RP continues to push the jurisdictional envelope. The English court’s sanction of the Sino-Ocean restructuring plan (RP) marks an interesting development in the evolution of the English RP....more

Restructuring Plans and the Price of Dissent

Latham & Watkins LLP on 7/25/2024

Despite three recent landmark UK restructuring plan decisions, uncertainty remains around the value, if any, a plan company should offer dissenting creditors as the “deliverability price” of a plan....more

Key Points: Schemes of Arrangement in the Cayman Islands

Conyers on 8/14/2023

What is a scheme? A compromise or arrangement between a company and any class or classes of its creditors (and/or shareholders). The process broadly mirrors an English scheme of arrangement thereby providing legal...more

Directors’ Duties: Shining Light in the Tunnel?

Latham & Watkins LLP on 10/12/2022

In a new ruling, the UK Supreme Court concluded that the rule applies only when a company is “insolvent or bordering on insolvency”. On 5 October 2022, the UK Supreme Court handed down judgment in BTI 2014 LLC v. Sequana...more

UK Supreme Court Confirms Creditor Duty in Zone of Insolvency: BTI v Sequana

Katten Muchin Rosenman LLP on 10/11/2022

Key Points - - The UK Supreme Court has affirmed directors' duty to consider creditors' interests. - The timing for the duty to be engaged is pushed back to when a company is bordering on insolvency. - Once the...more

Directors’ Duties in an Insolvency Context: Where Creditor and Shareholder Interests Collide

A&O Shearman on 10/7/2022

UK Supreme Court gives important judgment on directors’ “creditor duty” The UK Supreme Court in BTI 2014 LLC v Sequana SA and ors [2022] UKSC 25 has given an important judgment clarifying the nature of the so-called “creditor...more

UK Court of Appeal: When to Trigger the Creditor Duty Shift

Latham & Watkins LLP on 4/3/2019

Ruling provides guidance on how close to insolvency a company needs to be before directors must consider creditors’ interests. The UK Court of Appeal has ruled that the payment of a lawful dividend did not, on the facts,...more

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