Zone of Insolvency

Zone of Insolvency

Tag Archives: Insolvency

The role of AI in insolvency litigation: an enhancement but not a replacement for human lawyers in the administration of justice

By Claudine Salameh, Laura Johns and Simran Chawla on Posted in Australia, Financial Restructuring & Insolvency
Introduction A duty to act in the best interests of our clients goes to the heart of the legal profession, both functionally and ethically. Can our ability to fulfil this duty be enhanced by the use artificial intelligence (AI)? There is a common suggestion that AI can perform certain roles better than humans can. However,… Continue Reading

Small business restructuring in Australia – Two years on, is the new process working as intended?

By Claudine Salameh on Posted in Australia, Financial Restructuring & Insolvency
From 1 January 2021, Australia’s insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive – specifically, by providing these businesses with simpler, more flexible restructuring options outside the existing “one size fits all” voluntary administration and scheme of arrangement processes… Continue Reading

Australian corporate insolvency reform: What can we expect in 2023?

By NRF Australian Restructuring Team on Posted in Australia, Financial Restructuring & Insolvency, Global
Overview There has been a growing appetite for corporate insolvency law reform in Australia in the last 18 months. In 2021, public consultations were completed on improvements to creditors’ schemes of arrangement and the treatment of insolvent trusts, and there was an independent review of the laws providing directors with a safe harbour from insolvent… Continue Reading

Norton Rose Fulbright’s global restructuring group releases the Q1 2023 issue of International Restructuring Newswire

By NRF Digital Team on Posted in Financial Restructuring & Insolvency, Global
International Restructuring Newswire Q1 2023Our global restructuring team has released its quarterly International Restructuring Newswire. Our new issue features articles from Canada, Germany, the US, France and China/Hong Kong to help you stay current on recent developments in restructurings in various jurisdictions around the globe.… Continue Reading

Norton Rose Fulbright’s global restructuring group releases the Q4 2022 issue of International Restructuring Newswire

By NRF Digital Team on Posted in Financial Restructuring & Insolvency, Global
Our global restructuring team has released its quarterly International Restructuring Newswire. Our new issue features articles from the US, Australia and Canada to help you stay current on recent developments in restructurings in various jurisdictions around the globe. Alto Maipo: Delaware ruling poses jurisdictional challenges for Chapter 11 debtors Financial crime in an economic downturn: tracing… Continue Reading

UK Supreme Court delivers landmark judgment on directors’ duties when a company faces insolvency

By Helen Coverdale on Posted in Europe, Financial Restructuring & Insolvency
Why is the decision important? For the first time, the Supreme Court has considered whether there is a common law duty on directors to act in the interests of creditors when a company faces insolvency, but is not yet in an insolvency process (the so-called twilight zone) (the Creditors’ Duty). Unanimously agreeing that such a… Continue Reading

Global bankruptcy, financial restructuring and insolvency group releases the Q3 2022 issue of International Restructuring Newswire

By NRF Digital Team on Posted in Financial Restructuring & Insolvency, Global
Global bankruptcy, financial restructuring and insolvency group releases the Q3 2022 issue of International Restructuring NewswireOur global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire.   Our new issue features articles from the US, the Netherlands, Germany/the UK and Australia to help you stay current on recent developments in restructurings in various jurisdictions around the globe. Hong Kong Court comments on the interplay between the Rule in Gibbs and… Continue Reading

Global bankruptcy financial restructuring and insolvency group releases the Q2 2022 issue of International Restructuring Newswire

By NRF Digital Team on Posted in Australia, Bankruptcy Courts, Europe, Financial Restructuring & Insolvency, Global, Singapore, US
Our global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire. Our new issue features articles from Singapore, the US, the Netherlands, Canada, Italy and Australia to help you stay current on recent developments in restructurings in various jurisdictions around the globe.   Recent case law developments in Singapore’s restructuring and insolvency laws show… Continue Reading

Omar Salah discusses WHOA in International Insolvency Institute’s Global Perspectives podcast

By NRF Digital Team on Posted in Financial Restructuring & Insolvency, Global
On January 1, 2021, the Act on Court Confirmation of Extrajudicial Restructuring Plans, also referred to as the “Dutch Scheme” or “WHOA” (Wet Homologatie Onderhands Akkoord) entered into force. On this episode of Global Perspectives, Omar Salah, a partner in Norton Rose Fulbright’s Amsterdam office, discusses the reasons for the enactment of the WHOA, its key… Continue Reading

Omar Salah appointed as CERIL Conferee

By NRF Digital Team on Posted in Europe, Financial Restructuring & Insolvency
Prof. Omar Salah, Partner at Norton Rose Fulbright’s Amsterdam office, has been appointed as Conferee of the Conference on European Restructuring and Insolvency Law (CERIL). CERIL is a non-profit organisation with a unique independent perspective on developments in restructuring and insolvency systems across Europe. It is a membership organisation of experienced and respected restructuring and… Continue Reading

Norton Rose Fulbright Financial Restructuring and Insolvency group recognized as ‘Practice Group of the Year’ by Law360

By NRF Digital Team on Posted in Financial Restructuring & Insolvency, US
Norton Rose Fulbright’s US Financial Restructuring and Insolvency group has been named a 2021 “Practice Group of the Year” in the bankruptcy category by Law360. The recognition is based on noteworthy representations in several significant and complex restructuring matters. Read more about this recognition here.… Continue Reading

Global bankruptcy financial restructuring and insolvency group releases the Q1 2022 issue of International Restructuring Newswire

By NRF Digital Team on Posted in Canada, Europe, Financial Restructuring & Insolvency, Global, UK, US
Our global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire.   Our new issue features articles from Canada, Germany, the Netherlands, South Africa, the US and the UK to help you stay current on recent developments in restructurings in various jurisdictions around the globe. Steinhoff restructuring: The Dutch suspension of payments as an… Continue Reading

The use of mediation to improve global restructuring outcomes in a post-pandemic world

By Scott Atkins (AU) on Posted in Australia, Financial Restructuring & Insolvency, Global, Singapore, UK, US
Jurisdictions across the world have been seeking to simplify their domestic insolvency processes and create flexible restructuring alternatives to enable viable entities experiencing financial distress to have better prospects of recovery. In an article co-authored by Scott Atkins and Debra Grassgreen and published in the Global Restructuring Review, the authors discuss the potential uses of mediation… Continue Reading

John Martin appointed President of the International Insolvency Institute

By NRF Digital Team on Posted in Australia, Financial Restructuring & Insolvency, Global
Norton Rose Fulbright is delighted to announce that restructuring and insolvency partner, John Martin has been appointed President of the International Insolvency Institute, succeeding Debra Grassgreen. Having been a Board member of the International Insolvency Institute since 2016, John most recently served as a Vice President. At the Institute’s annual conference in New York this… Continue Reading

Omar Salah inducted into III NextGen Leadership Program

By NRF Digital Team on Posted in Europe, Financial Restructuring & Insolvency
Omar Salah, partner in our Amsterdam office and professor at Tilburg University, has been induced into Class X of the NextGen Leadership Program of the International Insolvency Institute (III). The NextGen Leadership Program was established in 2012 and recognises the most prominent “rising stars” in the international insolvency area by inviting them to become members… Continue Reading

Outer Space: The New Frontier for Restructuring and Insolvency

By Scott Atkins (AU) and Dr. Kai Luck (AU) on Posted in Australia, Financial Restructuring & Insolvency, Global
Activities in outer space have increased significantly over the last few years and there is a river of untapped potential in the modern ‘space economy’. In an article written for International Corporate Rescue, Scott Atkins and Dr Kai Luck explore the intersection between outer space activities and restructuring and insolvency. Read the article here.… Continue Reading

Contagion liability risk in the United States and Australia for parent entities arising from the insolvency of a subsidiary

By Scott Atkins (AU), Eric Daucher (US), Dr. Kai Luck (AU) and Francisco Vazquez (US) on Posted in Australia, US
With the influx of insolvency cases expected on a global basis in coming months as government support measures are wound back, now is an opportune time for businesses to consider the extent of their potential exposure if a subsidiary liquidates. In particular, can losses be isolated within a liquidating subsidiary, or will there be a contagion… Continue Reading

UNCITRAL draft Model Law on Enterprise Group Insolvency

By Scott Atkins (AU), John Martin (AU) and Sophie Hewitt (AU) on Posted in Australia
In December 2018, UNCITRAL Working Group V (Insolvency Law) held its 54th session in Vienna where it discussed, among other topics, cross border insolvency of enterprise groups. These discussions included amendments to the Enterprise Group Insolvency: Draft Model Law (‘draft Model Law’) and the Enterprise Group Insolvency: Guide to Enactment of the Draft Model Law… Continue Reading