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The Court of Appeal has unanimously decided that it may appoint English administrators to a Jersey company, upon the request of the Jersey Court.  This overturns a controversial decision from just last month, where a formal request from the Jersey Court...

The Supreme Court has unanimously affirmed the Court of Appeal's decision on the test for balance sheet insolvency under section 123(2) of the Insolvency Act 1986 finding that Eurosail was not balance sheet insolvent. Of practical importance to borrowers...

More than a year after the appointment of special administrators in relation to the UK broker MF Global UK Limited, clients with client money claims held on trust at the firm were still unclear as to how much they were entitled to receive. The delay was a result...

When looking at a distressed credit, determining creditor priority becomes key. The focus is not just on realising value, but on who has control of that realisation process. In a recent case (Saltri III Ltd v MD Mezzanine SA Sicar & Ors [2012] EWHC...

Earlier this year the German Federal Court found that recognition of the Scheme of Arrangement related to insurance matters would be contrary to European legislation on the recognition and enforcement of judgments. As this judgment is limited to insurance matters,...

The sanction of an English law scheme of arrangement for a Kuwaiti investment company, Global Investment House KSC, represents another first for English schemes. It sets a precedent for debt restructuring in the Gulf region and treats Islamic and conventional...

NEF Telecom Company B.V. (a Dutch company) and Bulgarian Telecommunications Company AD (a Bulgarian company) which form part of the Vivacom group (the "BTC Companies") join a growing list of foreign companies which have utilised an English law scheme...

The English Courts have been moving enthusiastically towards a universal approach to all insolvencies, even though this carried them further than Parliament or international convention has so far been prepared to go. However, in refusing to recognise a default...

The UK continues to remain at the forefront of providing tried and tested legal processes to ensure that English and foreign companies alike can restructure their balance sheets without jeopardising the stability of their business and their ability to remain...

As tough economic conditions persist, how are restructuring techniques adapting to meet the needs of the market? And how do they differ across Europe? A team of Clifford Chance experts from Paris, Frankfurt, Madrid and London discuss the latest developments...