News & Analysis as of

United Kingdom Insolvency Cross-Border Insolvency Regulations (CBIR)

A&O Shearman

Recognition of Aggregate Group’s 2024 English Restructuring Plan Denied in Germany

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In this alert, we consider the recent judgment of the Frankfurt court declining to recognize the effects of the Aggregate group’s 2024 English restructuring plan in respect of certain of its German law-governed debts....more

Conyers

Schemes of Arrangement: Restructuring in the Cayman Islands

Conyers on

These continue to be challenging times and we recognize that the need for cross-border advice on insolvency and restructuring matters may be required at short notice. Conyers’ attorneys are insolvency and restructuring...more

Latham & Watkins LLP

UK Government to Implement UNCITRAL Model Law on Enterprise Group Insolvency

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The model law aims to maximise group-wide recoveries in an insolvency through cooperation and efficient administration. The UK government has announced its intention to legislate to implement the UNCITRAL Model Law on...more

Morrison & Foerster LLP

The UK Insolvency Service’s New Consultation on the Adoption of Two Insolvency-Related UNCITRAL Model Laws

On July 7, 2022, the UK Insolvency Service, an executive agency of government responsible for a variety of roles in administering the UK insolvency regime, published a consultation on the UK’s proposed adoption of two...more

Katten Muchin Rosenman LLP

Debtors Must Continue to Consider English Restructuring Processes to Secure a Global Solution

Key Point The - UK government's proposals to only partially implement a new UNCITRAL Model Law means that creditors of English law debts who do not consent to a foreign restructuring proceeding will still have recourse to...more

Jones Day

Uphill Struggles in the Sunlit Uplands? The Brexit Deal and UK-EU Insolvencies

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The deal reached between HM Government and the European Union on December 24, 2020, does not include any framework for the coordination and mutual recognition of cross-border insolvencies and restructurings. For the purposes...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recognition of Restructuring and Insolvency Proceedings

Although the Trade and Cooperation Agreement (TCA) arrived in time to prevent a wholesale “no deal Brexit,” issues of cross-border cooperation and recognition in relation to insolvency and restructuring proceedings were not...more

Jones Day

Proposed UNCITRAL Model Law on Enterprise Group Insolvency

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In December 2018, at its 54th session in Vienna, Working Group V (Insolvency Law) of the United Nations Commission on International Trade Law (UNCITRAL) discussed revisions to its Enterprise Group Insolvency: Draft Model Law...more

Shumaker, Loop & Kendrick, LLP

Cross-Border Insolvency: English High Court ruling impacts Delaware Chapter 11 case

David Conaway reports on a ruling by the English High Court in late 2018 that impacted the US Chapter 11 proceedings in Delaware. Originally published in Eurofenix, Spring 2019. ...more

Jones Day

English Court of Appeal Upholds "The Gibbs Rule"

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The Situation: In Bakhshiyeva v Sberbank of Russia, a debtor sought to restructure English law-governed debts pursuant to an Azerbaijani restructuring proceeding. In order to prevent certain dissenting creditors from...more

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