You, Restructuring & Insolvency
& Ince, in any case
新闻 / The last of the remaining debt recovery restrictions have been lifted
On 1 April 2022, the last of the remaining debt recovery restrictions were lifted, and the insolvency regime returned to its pre-pandemic position. This change is part of the general relaxation of coronavirus-related legislation of the Corporate Insolvency and Governance Act 2020, designed to protect companies impacted by the pandemic.
洞察力 / International Restructuring Tools: Navigating Restructuring with the new UK Restructuring Plan
The Covid-19 pandemic has brought considerable financial challenges to companies across a broad range of industry sectors including the maritime sector and, in particular, the cruise, ferry and offshore sectors.
洞察力 / A flying start for the restructuring plan
06-01-2021 / 航空和旅游
Alex Rogan looks at the maiden flight of the restructuring plan, highlighting the practical considerations for future cases.
洞察力 / Some Pre-Christmas cheer for Directors - Wrongful Trading Liability Suspended Again
In the face of the dire economic consequences of the second national lockdown and the continuing measures to save lives, the government has reinstated the suspension of liability for wrongful trading
洞察力 / Update on new UK restructuring plan and overview of key cross-border restructuring considerations
02-12-2020 / 航运
The Covid-19 pandemic has brought considerable financial challenges to companies across a broad range of industry sectors, including the maritime sector.
新闻 / Re-introduction of Crown preference: Government prioritises public revenue streams over enterprise
HMRC had preferential status up to 2003, until it was abolished under the Enterprise Act 2002, by the then Labour Government seeking to support entrepreneurs and their right to a second chance.
洞察力 / Corporate Insolvency and Governance Act 2020: extension of temporary measures to further support business
Certain temporary measures introduced in the Corporate Insolvency and Governance Act 2020 (‘CIGA’) were extended on 24 September 2020.
洞察力 / Protecting businesses will give the economy the greatest chance of recovery
The Covid-19 pandemic has presented governments, financial markets and economies across the globe with challenges never faced before. Whilst Covid-19 is primarily and most terribly a public health crisis, its far-reaching consequences are devastating the global economy.
洞察力 / Singapore Legal Update - The Insolvency, Restructuring and Dissolution Act: An Overview
The Insolvency, Restructuring and Dissolution Act 2018, (Act No.40 of 2018, the “Act”) , which came into force on 30 July, marks, for now at least, the final stage in what has been a far-reaching overhaul of Singapore’s insolvency and debt restructuring regime.
洞察力 / New UK restructuring tool set to jack up floundering offshore sector
16-07-2020 / 能源及基础设施
The Covid-19 pandemic has brought considerable challenges, as well as potential opportunities, to the offshore sector. Offshore drilling continues to face difficulties and is expected to be the worst performing subsector of the oil sector, with rig utilisation at around 60%.
洞察力 / New UK restructuring tool: a potential game changer for the maritime sector
30-06-2020 / 航运
With some signs of cautious optimism mounting that the shipping industry may have weathered the worst of the challenges posed by the pandemic, companies will need to start considering their restructuring options to ensure that they remain competitive in an uncertain recessionary trading environment.
洞察力 / Corporate Insolvency and Governance Act 2020: Breathing Space for Distressed Companies and Game-Changing Restructuring Tools
The Corporate Insolvency and Governance Act 2020 (the ‘Act’) came into force on 26 June 2020, marking a momentous advancement for the UK’s restructuring and insolvency regime.
新闻 / India passes the Insolvency and Bankruptcy Code - Amendment Ordinance
Last week, the Indian government amended the Insolvency and Bankruptcy Code (“IBC”) by passing the Insolvency and Bankruptcy Code Ordinance 2020 (“Ordinance”). The Ordinance was passed on and came into effect on 5 June 2020. The basic tenet of the Ordinance is to suspend fresh bankruptcy proceedings against persons impacted because of COVID-19 for at least six months, up to a maximum of one year.
新闻 / Covid-19: Rising to the challenge - The Corporate Insolvency and Governance Bill
The Corporate Insolvency and Governance Bill (the “Bill”) published on 20 May 2020 represents the most significant development for restructuring and insolvency laws in the UK in nearly 20 years. The Bill, if passed in its present form, provides significant additional firepower to the UK restructuring arsenal, introducing a new restructuring regime that is capable of rising to the challenge of rescuing businesses and maximising stakeholder value in the difficult economic environment ahead.
新闻 / Covid-19 Government Support Measures: A Class Act
Over the last week, the lockdown has started to ease. Parks and public spaces are fuller, non-vital amenities are opening, and more people are on the roads than have been in months. From London to Durham, life and the economy seem to be thawing.
洞察力 / COVID-19: Changes to UK insolvency laws
Over the past couple of months, the world has seen an unprecedented negative economic shock as a result of measures being implemented across the globe to save lives in the face of Covid-19. Governments across the globe are rushing to make arrangements, including temporary amendments to insolvency laws, to protect livelihoods and help businesses survive Covid-19 (see our update in relation to changes that have been implemented in Germany).
洞察力 / Directors' Duties in light of COVID-19
COVID-19 represents an unprecedented challenge to people and their businesses, the like of which has not been seen before in modern times. There is no doubt that almost all sectors will face significant challenges as both the supply and demand side of the economy grind to a halt. Certain sectors will benefit as the world moves on-line due to travel restrictions but for the large part this will be a very difficult trading environment which will be challenging for businesses to navigate.
洞察力 / Advice for company directors navigating the zone of insolvency
It is important for directors to understand the full scope of their duties if their company is in financial distress and continuing to trade in the zone of insolvency. This is in order to ensure that they avoid facing personal liabilities for the losses suffered by creditors in these difficult times. This is a complex area for directors and it is important that they have appropriate legal and financial advice to ensure that they address the relevant considerations when reaching their decisions around continuing to trade whilst in the zone of insolvency. Please see our updates on specific consideration for directors in light of trading difficulties arising out of the impact of COVID-19 at 'Directors' Duties in light of COVID-19' and 'COVID-19: Governance'.