MoFo Restructuring Round-Up

April 28, 2022 - UK Updates and Analysis
The Insolvency Practitioner’s Playbook: Making Sense of the UK Sanctions Regime
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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April 08, 2022 - UK Updates and Analysis
The National Security Investment Act 2021 and its Implications for Distressed Investments and Restructuring
This article explores transactions by buyers, lenders, security agents, and insolvency practitioners that may trigger the application of the UK’s new investment screening regime. Download the below infographic
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April 07, 2022 - UK Updates and Analysis
Five Tips for Investor Directors in the Zone of Insolvency
Here are our top tips for investor appointed directors to help them navigate the complexities that arise when portfolio companies are in financial distress and investor interests diverge. View the full client alert.
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March 29, 2022 - UK Updates and Analysis
Smile Telecoms’ restructuring plans considered at UK High Court hearing: questions of valuation and exclusion of out-of-the-money creditors
On 10 March 2022, the UK High Court held the adjourned sanction hearing regarding Smile Telecoms Holdings Limited’s (“Smile”) second proposed restructuring plan. Despite Smile Telecoms’ first restructuring plan being sanctioned by the UK High Court back in March 2021, the African telecommunications company
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November 01, 2021 - UK Updates and Analysis
The Latest on Insolvent Schemes and Restructuring Plans
This update summarises the latest jurisprudence on insolvent schemes of arrangement (schemes) and restructuring plans (RPs), and provides an overview of the key themes that are emerging in this area. Download the below infographic Key Concepts and Notes Absolute priority rule – U.S. Bankruptcy
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August 13, 2021 - UK Updates and Analysis, Podcasts
MoFo Perspectives: The Part 26A Restructuring Plan – A Year On and Beyond
Howard Morris, Amrit Khosa, and Jai Mudhar discuss the Part 26A restructuring plan and the legal developments that have unfolded since its introduction. This pragmatic and informative discussion is designed to equip our clients with the latest updates to help navigate the months ahead.
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June 30, 2021 - UK Updates and Analysis
Buying Insolvent UK Companies Post Covid: Ten Top Tips for PE Investors
Many investors, including PE firms, are waiting with bated breath to see how the UK economy, currently dependent on COVID-19-related government support, will respond once that stimulus is withdrawn. An increase in UK company insolvencies is expected, creating opportunities for savvy investors to acquire
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June 28, 2021 - UK Updates and Analysis
New UK Insolvency Regime for Payment and Electronic Money Institutions
On 8 July 2021, the Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations) will come into force in the UK and introduce a new special administration regime for insolvent payment institutions (PIs) and electronic money institutions (EMIs). The key purposes of the Regulations
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May 27, 2021 - UK Updates and Analysis
Darty Holdings SAS v Carton-Kelly: Are We Just Talking or Is There a Connection Here?
In dismissing Darty Holdings SAS’ (“Darty”) appeal in a recent decision, Miles J. has confirmed that an English court will look at the actual relationship between the parties involved, rather than the wider context, when considering whether those parties are connected. This will be
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February 01, 2021 - UK Updates and Analysis
Less Scheming: Cross-Class Cram-Downs Are Out in the Open for All to See
The Corporate Insolvency and Governance Act 2020 introduced a new restructuring plan (the “Restructuring Plan”) under Part 26A of the Companies Act 2006. As a recent entrant into the market, the Restructuring Plan is now making noise – most notably, when its cross-class cram-down
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