Jul 24, 2023 High Court uses its cross-class cram down power to sanction Fitness First Restructuring Plan By Katharina Crinson Ken Baird Laila Pourdad On 29 June 2023, Mr Justice Michael Green in the High Court sanctioned a Part 26A restructuring plan proposed by First Clubs Limited...
Jul 13, 2023 Prezzo – Restructuring plan sanctioned and HMRC crammed down in a departure from GAS and Nasmyth By Alice Gossop Katharina Crinson Ken Baird On 5 July 2023, the High Court sanctioned the restructuring plan proposed by Prezzo Investco Limited (the Company) despite opposition...
Jul 11, 2023 UK Model Law consultation: full steam ahead for Enterprise Groups, time to reflect on Gibbs for Foreign Judgments Model Law By Katharina Crinson Catherine Balmond Craig Montgomery On 10 July 2023 the UK government announced the outcome to its consultation on whether (and how) to implement two “model laws” adopted by...
Jul 04, 2023 Another successful Dutch Scheme: a milestone in the complex and multi-jurisdictional Steinhoff restructuring By Charlotte Ausema In yet another major restructuring in the Netherlands, the Dutch Court confirmed a restructuring plan under the Dutch Act on Court...
Jul 03, 2023 CIGA turns 3 By Katharina Crinson Olivier Watling Ken Baird The government’s Insolvency Service published its Post Implementation Review of the Corporate Insolvency and Governance Act 2020 (CIGA)...
May 24, 2023 GAS – HMRC successfully opposes another restructuring plan by challenging the expert evidence and overall fairness By Craig Montgomery Frank Clarke Alice Gossop Katharina Crinson +1 more... Show less On 16 May 2023, Mr Justice Adam Johnson in the High Court refused to sanction the restructuring plan proposed by The Great Annual Savings...
May 04, 2023 HMRC successfully opposes restructuring plan amid concern over being routinely crammed down By Chloe Ball Katharina Crinson Craig Montgomery The High Court refused to sanction the restructuring plan put forward by Nasmyth Group Limited (Nasmyth) pursuant to Part 26A of the...
May 04, 2023 Insolvencies remain high - but the restructuring plan is starting to take off By Nicholas Cooper Olivier Watling Katharina Crinson Craig Montgomery +1 more... Show less The UK’s latest quarterly insolvency statistics have been published and, as predicted, continue to show a high rate of insolvencies, both...
Mar 29, 2023 Groundbreaking Royal IHC Restructuring: Dutch scheme proves itself (again) as highly effective and flexible restructuring tool By Huub Boekhorst Tim Elkerbout Michael Broeders Since the Dutch Act on Court Confirmation of a Private Restructuring Plan (“WHOA” or “Dutch Scheme”) entered into force on 1 January...
Mar 01, 2023 Lifeways group – sanction provides helpful case law on requirements for attendance at creditor meetings By Katharina Crinson Lindsay Hingston Rachel Seeley At the end of February 2023, the High Court sanctioned seven restructuring plans for companies in the Lifeways group. Lifeways is a group...
Dec 16, 2022 The WHOA in 2023: The Restructuring Directive implemented in the Netherlands By Charlotte Ausema The Dutch Act implementing the EU Directive on Insolvency, Restructuring and Second Chance (the Restructuring Directive) enters into...
Dec 14, 2022 Proposal for an EU directive on the harmonisation of certain aspects of insolvency law By Susanne Hoerrmann Silvia Angos Charlotte Ausema On 7 December 2022, the European Commission published its proposal for a directive of the European Parliament and of the Council...