Restructuring & Insolvency Bulletin - Autumn 2017

Restructuring & Insolvency Bulletin - Autumn 2017

Welcome to the autumn edition of our Restructuring & Insolvency bulletin.

They say a week is a long time in politics, but much the same might be said of the last few months in the Restructuring & Insolvency world. Insolvency professionals have been busy getting to grips with the new Insolvency Rules 2016. As if Brexit wasn’t enough to keep us occupied, we’ve also had to contend with the Recast European Insolvency Regulation (2015) which came into effect on 26 June. We’ve seen a large number of high profile distressed situations or insolvencies, many of them in the retail sector affecting the likes of Jaeger and Store Twenty One. And just days before going to press with this bulletin, we've learnt of the collapse of Monarch Airlines with news that it has been placed into administration.

In this bulletin we have selected a list of recent articles written by our Restructuring & Insolvency specialists which we expect will be of interest to you. We hope you enjoy reading these articles and would be delighted to hear from you on any points arising from them. Links to these articles and others available on our website can all be found below. 

And finally you may be interested to know that we also produce a Banking & Finance bulletin. Click here to read more.

Contact our experts for further advice

  1. Monarch enters administration - what protections are available?

    On Monday 2 October, Monarch (the UK’s fifth largest airline) entered administration after discussions with the Civil Aviation Authority (“CAA”) to renew its licence to sell package holidays failed. The airline reported a loss of... Read more
  2. Recast European Insolvency Regulation (2015) comes into effect - 26 June 2017

    The recast European Insolvency Regulation (EIR) applies to all insolvencies commencing on or after 26 June 2017. It replaces the EC Regulation on Insolvency Proceedings (2000)(the “EC Regulation”), although the EC Regulation will still apply to... Read more
  3. The Insolvency Rules 2016

    The long awaited Insolvency Rules 2016 will be brought into effect on 6 April 2017, modernising their 20 year old predecessor and incorporating a raft of recent amendments to the insolvency legislation. The new rules are designed to increase creditor... Read more
  4. Supreme Court rules in long-awaited Lehman Waterfall I appeal

    Despite the fact that almost a decade has now passed since the main European trading vehicle in the Lehman Brothers group of companies first entered administration, the legal ramifications continue to flow. On 17 May the Supreme Court delivered its judgment... Read more
  5. The liquidators of BHS file claims against Arcadia Group

    BHS first entered administration on 25 April 2016. At the insistence of its major unsecured creditor, the Pension Protection Fund (“PPF”), it subsequently entered liquidation on 2 December 2016.  It is now reported that Anthony Wright and... Read more
  6. Christmas saved by turkey pre-pack but was the pension fund stuffed?

    “Pre-packs” have proven to be a popular method in the UK of saving businesses since 2003 (when the Enterprise Act of the same year ushered in a rescue culture and made it possible to appoint administrators out of court by providing the... Read more
  7. Contributions to external publications

    We are regular contributors to a number of external publications. Rebecca Walker has recently contributed to the Autumn 2017 edition of RECOVERY and you can download the article by clicking here.

    Ever heard of the Duomatic principle? If not, you can find out more by reading a guidance note on the same prepared by Rebecca Walker and Kathryn Saunders for leading online publishing company Practical Law – click here to read more.

    And earlier this year David Steinberg and Matthew Padian contributed an article to LexisNexis which considers the circumstances in which an office-holder may seek to assign insurance claims and the practical considerations which may be relevant when doing so – click here to read more.

  8. A final word...

    We are pleased to announce that Anna Perry has recently joined us as a Senior Associate.

    Anna trained at Clifford Chance LLP and spent almost five years in its Restructuring & Insolvency team following qualification. Since then she has worked for Maples & Calder in the Cayman Islands. Anna brings with her a wealth of both contentious and non-contentious Restructuring & Insolvency experience.


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