Announcements and Press

Welcome To Mofo Restructuring Round-Up

Welcome to our site! We look forward to sharing our analysis of the statutory, regulatory, legal and business related developments in the insolvency and restructuring world with you.

You can expect articles, infographics and podcasts, as well as some interactive content, such as webinars and events. We would very much like to engage with you, so we encourage you to contact any of the authors or editors, should our content inspire or capture your interest or should you wish to discuss.

March 15, 2023 - U.S. Updates and Analysis
Liquidity Crises and Fiduciary Duties of Directors of Early-Stage Companies
By: Seth J. Kleinman, Jennifer L. Marines, Lorenzo Marinuzzi, James Michael Peck, Benjamin Butterfield, Theresa A. Foudy, Gary S. Lee and James A. Newton
The FDIC receiverships of Silicon Valley Bank and Signature Bank have caused certain early-stage companies to face potentially crippling near-term liquidity issues. These liquidity issues may result in a company becoming insolvent. Therefore, boards of directors of such companies need to consider their fiduciary
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February 15, 2023 - UK Updates and Analysis
High Court Rules that ISDA Bankruptcy-Related Events of Default Can Be Cured in Lehman Case
By: Clara Wong, Vladimir Maly, Polly Ehrman, Sam Riley and Howard Morris
In Grant & Ors v FR Acquisitions Corporation (Europe) Ltd & Anor (Re Lehman Brothers International (Europe)) [2022] EWHC 2532 (Ch), the English High Court ruled on an application for directions (the “ Application ”) made by the administrators (the “ Administrators ”) of
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February 08, 2023 - UK Updates and Analysis
London BRIG Update
By: Howard Morris and Amrit Khosa
In the following blog post, the London BRIG team look back at the restructuring trends that helped shape the market in 2022, review the outlook for the upcoming year and introduce MoFo’s recent hires who expand the team's BRIG and related capabilities. Understanding and
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January 19, 2023 - U.S. Updates and Analysis
An Overview of Sovereign Debt Restructuring
By: Amrit Khosa, Andrew Kissner and James A. Newton
This article explores the process of sovereign debt restructuring and considers how recent developments, including stronger Collective Action Clauses (CACs) and new legislative measures and protocols, might impact future restructurings.
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November 18, 2022 - U.S. Updates and Analysis
Crypto Exchange Bankruptcies: Are Prepetition Crypto Withdrawals and DeFi Loan Repayments Avoidable Preferences?
By: Theresa A. Foudy, Andrew Kissner and Miranda K. Russell
Over the span of two weeks in July 2022, two of the largest retail-facing cryptocurrency platforms, Celsius and Voyager, filed for chapter 11 bankruptcy protection. Both cases were precipitated, at least in part, by a “run on the bank” in which retail customers withdrew
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August 03, 2022 - UK Updates and Analysis
The National Security and Investment Act 2021: The UK Government Updates the Consequences of the Appointment of Liquidators and Receivers
By: Howard Morris
For background on the Act and the National Security and Investment (NSI) regime, please see our November 2020 Client Alert , August 2021 Client Alert , and April 2022 Client Alert. On 19 July 2022, the UK government’s Department for Business, Energy & Industrial
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July 28, 2022 - UK Updates and Analysis
Substance over Form: How the Rule in Gibbs lives on
By: Howard Morris
Is the rule in Gibbs justifiable in the context of modern international insolvency laws or is England clinging to an outdated rule simply to keep restructurings here? The rule stems from an 1890 Court of Appeal Case, which holds that only English courts can
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July 27, 2022 - UK Updates and Analysis
Will Creditors Amend and Extend or Enforce With(out) Remorse?
By: Howard Morris
There has been a series of warnings of an upcoming financial downturn; just too many strains on and impediments to the domestic and global economy, with inflation galloping and interest rates following, it seems – as the markets certainly believe – a downturn is
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April 28, 2022 - UK Updates and Analysis
The Curious Case of VTB Bank’s UK Administration
By: Howard Morris
On 6 April 2022, the English High Court made an administrative order in respect of the UK arm (VTB Capital) of Russia’s second largest bank, VTB Bank. VTB Capital is a designated entity under the UK sanctions regime, which has led to extensive asset
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April 28, 2022 - UK Updates and Analysis
The Insolvency Practitioner’s Playbook: Making Sense of the UK Sanctions Regime
By: Howard Morris
As Russia’s invasion of Ukraine continues, governments around the world are coordinating and responding with increasingly severe sanctions and export controls on Russian entities, institutions, and individuals. Insolvency practitioners first wonder whether sanctioned entities, or entities connected to sanctioned individuals, can enter into an
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