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UK: What is the Fuss About Gategroup?


Tuesday, March 16, 2021
Re gategroup Guarantee Limited [2021] EWHC 304 (Ch) (
Re gategroup Guarantee Limited) and provides a view of its effects on the cross-border application of the Restructuring Plan (defined below) and the use of co-obligor structures in restructurings.
IN DEPTH
The Restructuring Plan
The UK restructuring plan was introduced by the Corporate Insolvency and Governance Act 2020 as a new Part 26A of the Companies Act 2006 (the 
Restructuring Plan) and is substantially modelled on the existing UK scheme of arrangement under Part 26 of the Companies Act 2006 (the 
Scheme). Restructuring Plans primarily differ from Schemes in the following respects:
A company may use Restructuring Plans where: (i) it has encountered, or is likely to encounter, financial difficulties that are affecting, or will or may affect, its ability to carry on business; and (ii) a compromise or arrangement is proposed between the company and its cred ....

United Kingdom , Bruxelles Capitale , Justice Zacaroli , Council Regulation Ec No , Lugano Convention , European Parliament , European Free Trade Association , Bankruptcy Exclusion Of The Lugano Convention , European Union , Interplay Between The Lugano Convention , Gategroup Guarantee , Hague Judgments Convention , High Court , Guarantee Limited , Restructuring Plan , Corporate Insolvency , Governance Act , Companies Act , Restructuring Plans , Interplay Between , Bankruptcy Exclusion , Recast Brussels Regulation , Applicable European , Brussels Regulation , Council Regulation , European Free Trade ,

Schemes and Restructuring Plans: Challenging Times? | White & Case LLP


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The economic impact of the COVID-19 pandemic led to a wave of creditor schemes of arrangement ( schemes ) and restructuring plans ( RPs ) in the second half of 2020, which shows no sign of abating in 2021.  For the uninitiated, the scheme (a long-established tool) and the newer RP process are court led UK restructuring options that a company can use to bind a minority of creditors into a restructuring.  An RP can also be used to cram down an entire dissenting creditor class into a deal where certain conditions are met.  Both processes involve two Court hearings, which provide a natural forum for challenges from dissenting creditors but which, if any such challenges can be overcome, result in formal judicial approval of the restructuring.  Unsurprisingly, more schemes and RPs have led to more challenges. ....

United Kingdom , Flint Colouroz , Justice Snowden , Justice Trower , Swissport Fuelling Limited , Lugano Convention , Court Practice Statement , White Case , United Kingdom Withdrawal Agreement , Insolvency Regulation , Judgments Regulation , Practice Statement , ஒன்றுபட்டது கிஂக்டம் , நீதி பனிப்பொழிவு , நீதி உலாவர் , சுவிஸ்போர்ட் எரிபொருள் வரையறுக்கப்பட்டவை , லுகானோ மாநாடு , நீதிமன்றம் ப்ர்யாக்டீஸ் அறிக்கை , வெள்ளை வழக்கு , நொடித்துப்போனது ஒழுங்குமுறை , தீர்ப்புகள் ஒழுங்குமுறை , ப்ர்யாக்டீஸ் அறிக்கை ,

Belgium imposes second temporary statutory moratorium on creditors' rights


Belgium imposes second temporary statutory moratorium on creditors’ rights
Belgium
December 24 2020
During this second wave of COVID, new lock-down measures have been taken. Belgium has already provided for numerous measures to mitigate the economic impact of the coronavirus (COVID-19). In addition, the Belgian authorities have again adopted a statutory moratorium imposing a stay on creditors’ right to enforce debts, terminate existing agreements early and initiate bankruptcy proceedings. Unlike the first moratorium decided upon in March 2020 (which was in place until mid-June 2020), the new restrictions only apply with respect to companies that have been forced to close their business as a result of the second lock-down. ....

Ministerial Decree , Belgian Economic Law Code , Belgian Economic Law , Financial Collateral Act , Insolvency Regulation , Belgian Economic Code , மந்திரி ஆணை , பெல்ஜியன் பொருளாதார சட்டம் குறியீடு , பெல்ஜியன் பொருளாதார சட்டம் , நிதி இணை நாடகம் , நொடித்துப்போனது ஒழுங்குமுறை , பெல்ஜியன் பொருளாதார குறியீடு ,