Singapore Global Restructuring Initiative (SGRI)’s Post

#France #Restructuring #Insolvency - Our partners Saam Golshani, Anne-Sophie Noury, Alicia Bali and Alexis A. Hojabr share their insights on the recent key developments in the French restructuring and insolvency #framework.  💬 The restructuring and insolvency framework in France has undergone significant reforms in recent years, driven both by the willingness to harmonize European practices under the impulse of the European institutions and by the survival of measures initially introduced in response to economic challenges posed by the COVID-19 pandemic. These reforms aim to facilitate the restructuring of distressed businesses while balancing the rights of creditors, particularly when their approach complicates the restructuring process, even though their situation would not entitle them to any rights in the event of compulsory liquidation. Read more here 👇 https://lnkd.in/eAGXQuwq

"A walkthrough the French restructuring toolbox," by Saam Golshani, Anne-Sophie Noury, Alicia Bali and Alexis A. Hojabr (White & Case LLP). Check out this new article published on the Singapore Global Restructuring Initiative (SGRI) Blog! #insolvency #restructuring #EU #France #debtors #creditors https://lnkd.in/dS-btPTE

“Restructuring Moratoriums Through an Information-Processing Lens”, by Prof. Sarah Paterson (Professor of Law at the The London School of Economics and Political Science (LSE) / LSE Law School). Check out this new article published on the Singapore Global Restructuring Initiative (SGRI) Blog! #restructuring #insolvency #moratorium #debtors #creditors https://lnkd.in/d2ZHH6j9

I am delighted to share a short article on the issue of debt subordination. As restructuring costs increase and the tools available for enhancing the resources of a debtor company and creatively restructuring existing debt obligations expand, it is important to consider and explore ways to differentiate and identify methods and terms of financing. I hope you will enjoy this thoughtful discussion, and I look forward to discussing this interesting topic further.

“Trading in the zone of insolvency: English High Court orders directors to pay highest ever penalty,” by Mark Craggs and Helen Coverdale (Norton Rose Fulbright). Check out this new article published on the Singapore Global Restructuring Initiative (SGRI) Blog! #insolvency #zone #directors #duties #penalty #UK #English #court #creditors #debtors https://lnkd.in/dP_g9_KX

The Cayman Islands restructuring officer regime (the JRO regime), now in its third year, was intended to provide a stable platform for debtors to restructure their debts while at the same time robustly protecting creditors’ interests. Click the link below to view how the key Cayman Islands Grand Court decisions over the last two years have addressed this, and the practical guidance they provide for both potential debtors and their creditors, courtesy of Nick Herrod and James Eldridge of Maples Group. https://lnkd.in/e7djzk68 #CaymanIslands #CaymanFinance #FinancialServices Cayman Finance

Singapore High Court invalidates creditors' meeting on the basis of "substantive irregularities" by the company's provisional #liquidator. This decision of Re Zipmex Asia Pte Ltd [2024] SGHC 298 is a harsh but important decision. In this case, the provisional liquidator went beyond her statutory powers by adjudicating on proof of debts prior to the creditors' meeting so as to rig the votes to ensure that she was appointed as liquidator. The Court made it clear at [33] that the power to adjudicate on proofs of debt is a "restricted power" and is not to be exercised by a provisional liquidator without leave of court. Her decision to adjudicate prematurely affected "the choice and ability of the creditors to participate fully and in an informed manner in the appointment of the company's liquidator". The fact that there was no protest at the meeting does not assist the provisional liquidator. "Any substantive breach cannot be remedied by silence except where there is waiver or estoppel". See [45]. Further, the failure of the provisional liquidator to provide general proxy forms in the notice of the creditor's meeting was also considered to be a substantive irregularity. See [46]. ----- Insolvency law is fraught with technicalities. One must be careful with it. CHP Law LLC #withyou #insolvency #restructuring

Insolvency, bankruptcy and restructuring laws continue to evolve across the Middle East. But there are still questions over whether these reforms are meeting their key aims of improved creditor protection and the survival of viable businesses in what remains a complex, varied and often under-utilized set of legal frameworks. In this article, Yaser M. Dajani, our Middle East lead and managing director, draws insights from discussions from a Quantuma-hosted roundtable discussion in London, where he explores the reasoning behind these developments and how to unlock the potential of the rapidly evolving insolvency landscape in the Middle East.   Read the full article here: https://lnkd.in/egdbAnff #MiddleEast #Insolvency #creditorprotection

“Non-Financial Liabilities and Effective Corporate Restructuring”, by Prof Bo Becker (Cevian Capital Professor in the Department of Finance at the Stockholm School of Economics) and Prof. Jens Josephson (Associate Professor at the Stockholm Business School, Stockholm University). Check out this new article published on the Singapore Global Restructuring Initiative (SGRI) Blog! #insolvency #bankruptcy #contracts #executory #operational #financial #restructuring #liabilities https://lnkd.in/duXxqRmb

Some interesting sessions this afternoon at the R3 Annual Conference on cross border insolvencies and restructurings, and the differences between various jurisdictions. Here's a short blog on some of the key differences between Scotland and England and Wales. #insolvency #restructuring #R3AC2024