Lexis®PSL Restructuring and Insolvency monthly highlights—June 2016

Lexis®PSL Restructuring and Insolvency monthly highlights—June 2016

June 2016 highlights from the Lexis®PSL Restructuring and Insolvency team. This month’s highlights include: initial reactions to the Brexit vote, a look at the key dates under the Recast Regulation 848/2015, Linklaters’ views on the pre-pack recommendations, key changes proposed under the government’s recent consultation to reform the corporate insolvency framework, our latest On the Edge guide to matrimonial law plus a round up of other interesting cases and developments.

 Brexit—initial views on some likely impacts for R&I professionals

On 23 June 2016, the UK voted to leave the EU, sending shock waves across the markets and economies worldwide. While it will be several months before the full implications can begin to be understood, we look at some of the likely impacts on R&I lawyers and professionals.
For further details on the likely impact on R&I lawyers, see News Analyses:

Brexit—initial views on some likely impacts for R&I professionals
Brexit—implications for the UK restructuring and insolvency market

Lexis®PSL are reviewing our content on the basis of information available and will keep it under regular review throughout the withdrawal period. In the meantime, for background reading, links to related guidance and policy documents and the latest analysis on any potential effects on our content, please refer to our EU referendum subtopic and Brexit guide.

Keeping pre-packs afloat

Paul Sidle, Rebecca Jarvis, Richard Bussell, Richard Hodgson and Mandip Englund of Linklaters discuss Teresa Graham's six recommendations on how to improve confidence and transparency in ‘connected party’ pre-packs—broadly, where the former directors or owners are the buyers.
For further details, see News Analysis: Keeping pre-packs afloat.

Review of the corporate insolvency framework

The Insolvency Service is consulting on four proposals which would significantly change the options available to a company in financial distress. The proposals are:

  • the introduction of an automatic and standalone moratorium
  • continuance of 'essential contracts'
  • a flexible restructuring plan including

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About the author:
Kathy specialises in restructuring and cross-border insolvency. She qualified as a solicitor in 1995 and has since worked for Weil Gotshal & Manges and Freshfields. Kathy has worked on some of the largest restructuring cases in the last decade, including Worldcom, Parmalat, Enron and Eurotunnel.