Restructuring Globalview
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Delaware Bankruptcy Court Denies Healthcare Debtors’ Request to Enter into Nonbinding Commitment Letter (US)
The goal of a sale process under section 363 of the United States Bankruptcy Code is for a debtor to maximize the value of estate property for the benefit of all parties-in-interest. But what happens when the only party that is interested in purchasing the estate property is a former insider who is unwilling to…
Top 10 Predictions for 2025 in UK Restructuring and Insolvency
What can we expect in R&I in 2025? Well that’s always difficult to know for certain but our predictions are based on what we saw in 2024, and how we expect some of these to play out in 2025.
And let’s see where we are at the end of the year because there were a…
Distressed M&A Deals in Poland
The post-pandemic anxiety on the European markets was largely due to the anticipated wave of bankruptcies. High interest rates, surging energy prices and out-of-control inflation took their toll on many European businesses. Although the doomsday scenario did not come to pass, we have been seeing increasingly more restructurings and insolvencies. The Polish market is no…
When is the UK Court likely to agree to a long administration extension?
It is usual for administrators to ask for an administration to be extended by 12 months – but we have seen the courts agree to longer periods. For example, certain of the Lehman group company administrations were extended by periods of four and six years – having previously been extended by eight.
In the more…
(UK) The importance of a date: When is a winding up petition presented?
The date that a winding up petition is presented has consequences – consequences for the company subject to the petition, its directors, the petitioning creditor and it is also important in the context of a subsequent liquidation where the date is relevant to claims which a liquidator can bring.
Although seemingly a simple question, the…
I have the power – UK court confirms the ability of sole directors to make decisions
Following the decisions in Fore Fitness and Active Wear – where the court examined the validity of decisions made by a sole director of a company that operated wholly or partly under the Model Articles[1]– the position was not entirely settled.
In the context of administration appointments where the validity of an appointment…
No Touchdown for Antonio Brown as Bankruptcy Court Denies Discharge of $1.2 Million Judgment (US)
(UK) When Will a s.236 Application Fail?
The powers of investigation afforded to office-holders under s. 236 of the Insolvency Act 1986 are there to enable the court to help an office-holder discover the true facts concerning the affairs of a company, its trading and dealings, to allow the office-holder to complete their function.
These powers are wide reaching and include compelling…
Judge Goldblatt Reconsiders What Constitutes “Consent” Post Purdue Pharma (US)
The Supreme Court recently issued its long-awaited decision in Harrington v. Purdue Pharma L.P., 144 S.Ct. 2071 (U.S. 2024) (“Purdue Pharma”), addressing whether nonconsensual third-party releases are permissible under the Bankruptcy Code. In a 5-4 decision, the Court ruled that nonconsensual third-party releases are not permitted under the Bankruptcy Code. Notably, however, the Supreme Court…