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Adler on Appeal – Adler plan set aside in first ever appeal of an English restructuring plan

On 23 January 2024, the English Court of Appeal set aside the April 2023 order of the High Court sanctioning the English Part 26A restructuring plan (the “Plan”) proposed by...

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HMRC 2: 1 debtor - English Court refuses to sanction Nasmyth’s restructuring plan cramming down HMRC

Following active opposition by HMRC, on 28 April 2023 the English High Court (Mr Justice Leech) refused to sanction a restructuring plan under Part 26A of the Companies Act 2006 between...

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Fixed or floating? The English High Court considers the nature of security granted by Avanti

The administrators of Avanti Communications Limited (the “Company”) sought directions from the High Court as to whether purported fixed charges in favour of the secured lenders...

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“Root-and-branch attack” successfully defended: issues from the Adler sanction decision examined

On Friday 21 April 2023, the English High Court (Mr Justice Leech) handed down its reasons for sanctioning the Part 26A restructuring plan (the “Plan”) between AGPS BondCo plc...

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English court sanctions contested restructuring plan for the Adler Group

On 12 April 2023, the English High Court (Mr Justice Leech) sanctioned the restructuring plan between AGPS BondCo plc (the “Plan Company”), and six classes of its creditors...

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Beware the Ides of March – practical considerations if your bank is failing

Everybody knows that, logically, banks can fail. Few expect them to. Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on 10 March 2023, and the Federal ...

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Silicon Valley Bank UK Limited FAQs

The Silicon Valley Bank (SVB) closure, and subsequent Federal Deposit Insurance Corporation (FDIC) receivership, has created a plethora of legal implications and potential risks for the...

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Parallel lines – Hong Kong Airlines undergoes English and Hong Kong restructuring

Hong Kong’s last remaining independent airline carrier, Hong Kong Airlines Limited has undergone a significant debt restructuring. In parallel proceedings (a restructuring plan in the ...

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Financial Institutions Horizons 2023

The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset...

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