BCLP Global Restructuring & Insolvency Developments

Global Restructuring & Insolvency Developments

UK insolvency law

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U.K. Government Publishes Guidance on Corporate Governance in Insolvency

 

Editor’s Note: The April 1, 2018 merger of US-based Bryan Cave and UK-based Berwin Leighton Paisner provides us with far greater insight into cross-border insolvencies, an expertise to handle any restructuring, workout, or dissolution matters in the US, UK, Europe, Russia, UAE, Israel, China, and other points in the Far East.  For more information, contact Tessa or Sophie (the authors of this post), or visit here.

Following a number of corporate governance failures in situations of insolvency, the Government has published a consultation paper (located here) aimed at cracking down on directors and employers behaving irresponsibly.  “These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their actions.” Greg Clark

Responses are required by 11 June 2018.

Sale of Businesses in Distress

Although directors of an insolvent company must act in the best

From Across the Pond: The BHS Saga Continues – Can a Company Voluntary Arrangement (CVA) Ever Permanently Vary the Terms of a Lease?

Editors’ Note:  The upcoming merger between Berwin Leighton Paisner and Bryan Cave will create a 1500 lawyer, fully integrated firm with best-in-class offices in the US, UK, Europe, Russia, Hong Kong, and the UAE.  The combined Firm, to be known as Bryan Cave Leighton Paisner LLP, will have particular strengths in real estate, financial services, litigation, and corporate practices.  Most importantly for followers of The Bankruptcy Cave, this merger will result in a cadre of restructuring professionals able to handle insolvency matters around the globe, with proven expertise in cross-border workouts, restructurings, and any other insolvency featuring international flavors.  We look forward to speaking with you any time on any insolvency matter that includes any cross-border implications.  

Article summary:

In Wright (and another) (as joint liquidators of SHB Realisations Ltd (formerly BHS Ltd) (in liquidation)) v Prudential Assurance Company Ltd, the court held that, when the BHS CVA terminated, the landlord was entitled to claim the full

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