US issues (including Chapter 11)

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Practice notes
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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9th Nov
Practice notes
The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide for a revised scheme for decision making in insolvency from 6 April...
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Produced in partnership with Richard Bowles 12th Jan
Practice notes
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 12th Jan
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 12th Jan
Practice notes
DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee in bankruptcy (trustee) has the power to disclaim...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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9th Nov
Practice notes
This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan
Practice notes
Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...
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9th Nov
Practice notes
This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...
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9th Nov
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 12th Jan
Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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9th Nov
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 12th Jan
Practice notes
What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov

Most recent US issues (including Chapter 11) content

Practice notes
Overview of bankruptcy distribution prioritiesA chapter 11 debtor’s confirmed plan of reorganisation sets out the payments or distributions, if any,...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
What is a pre-pack?A pre-pack is a type of chapter 11 bankruptcy case where the debtor formulates, negotiates and solicits votes on a plan of...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
On 27 March 2020, the President signed the CARES Act into law. The CARES Act is a stimulus package designed to address the impact of the novel...
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9th Apr
Practice notes
Definition and purposeSubstantive consolidation is an equitable remedy which may be exercised by a bankruptcy court to combine the assets and...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
Chapter 7 purposeThe purpose of chapter 7 of the US Bankruptcy Code is prompt liquidation of a debtor company’s assets. Unlike chapter 11, which is...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
On 27 March 2020, the president signed the CARES Act into law. The CARES Act is a stimulus package designed to address the impact of the novel...
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9th Apr
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
Where a case may be commencedA chapter 11 case may be commenced in the district court for the district in which the domicile, residence, principal...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 9th Apr
Practice notes
The Hiring Incentives to Restore Employment Act (the HIRE Act) include provisions that give the US Internal Revenue Service (the IRS) administrative...
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Produced in partnership with John Narducci (Partner) and Stephen C Lessard (Associate) of Orrick, Herrington & Sutcliffe LLP 9th Apr
Practice notes
This tax 'tracker' tool displays the current status of both US FATCA and UK FATCA intergovernmental agreements (IGA).The tracker is split into five...
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9th Apr
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 8th Apr
Practice notes
Overview of avoidance actionsThe US Bankruptcy Code provides a debtor with rights to avoid certain transfers of property made by the debtor to third...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 28th Feb
Q&As
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR...
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15th Feb
Precedents
Common chapter 11 phasesAs shown below, the timing and phases of chapter 11 reorganisations vary depending on whether the filing is a conventional,...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 8th Jan

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