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Insolvency
Australia
Holding Redlich
A creditor of an insolvent company cannot rely on the right of set-off in response to an unfair preference claim.
Gilchrist Connell
Prudent insolvency practitioners should take care before "promising" that employee entitlements will be preserved.
Bartier Perry
The creditor of an insolvent company has no statutory right of set-off against a liability to repay an unfair preference.
Canada
WeirFoulds LLP
On November 20, 2021, long-awaited amendments to the Wage Earner Protection Program ("WEPP") came into force. The amendments are a welcome change to WEPP and will close some of the remaining gaps...
Torys LLP
There is conventional wisdom which holds that the economy works in a 7-year cycle and that insolvencies experience 3½-year booms, followed by 3½-year busts.
Blaney McMurtry LLP
Following are this week's summaries of the Court of Appeal for Ontario for the week of December 27, 2021. There were only two substantive civil decisions released this week.
Cayman Islands
Campbells
Since the landmark decision in Lamtex early last year in Hong Kong, there has been a flurry of Hong Kong cases in which the Hong Kong Court has wound up a debtor company (incorporated offshore)...
Campbells
Liam Faulkner, a Partner in our Cayman Islands' Insolvency & Restructuring team, provides an overview of the past year including the insolvency statistics.
Maples Group
The Cayman Islands Court of Appeal ("CICA") in Traded Life Policies Fund (In Official Liquidation) ("TLPF") & Anor v Jeremy Leach et al confirmed that where the plaintiff's want of means (impecuniosity)...
European Union
Ropes & Gray LLP
In this article, we look back at European distressed debt, restructuring and leveraged finance trends in 2021 and share our thoughts on potential market developments in 2022.
Hong Kong
Bryan Cave Leighton Paisner LLP
If a person presents a petition for their own bankruptcy ("self-petition"), are there any safeguards to ensure that the self-petition is genuine, as opposed to a cynical device by the person...
Akin Gump Strauss Hauer & Feld LLP
In a noteworthy decision handed down on 17 December 2021 ("Decision") 1, the High Court of Hong Kong recognised the Mainland China bankruptcy administrator ("Administrator")
India
Cornellia Chambers
The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "IBC") was enacted with a view to address the shortcomings in the insolvency laws and change the process of insolvency resolution in India.
Acuity Law
This newsletter covers key updates about developments in insolvency law during the month of December 2021.
Phoenix Legal
The Hon'ble Supreme Court in a recent decision in Bank of Baroda & Anr. v. MBL Infrastructures Ltd. & Ors. rendered an important judgment pertaining to interpretation of Section 29A of the Insolvency and Bankruptcy Code, 2016.
Acuity Law
Ministry of Corporate Affairs proposes changes to the Insolvency and Bankruptcy Code for time bound resolution of stressed assets.
Phoenix Legal
That the penal berth hire charges claimed by the Plaintiff are not in the nature of a penalty and therefore damages would not have to be proved as required under Section 74 of the India Contract Act.
Acuity Law
This newsletter covers key updates about developments in the insolvency law during the month of November 2021.
Upscale Legal
Rajeev Suri vs. Delhi Development Authority and Ors. (2021), also known as the Central Vista case, conducted a comprehensive judicial assessment of the legality of the Central Vista Project of the Government of India.
Khaitan & Co
The Supreme Court (SC) in its judgment dated 14 December 2021, in E S Krishnamurthy & Ors. v. M/s Bharath Hi Tech Builders Pvt. Ltd., Civil Appeal No. 3325/2020...
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