UK Corporate Insolvency and Governance Act 2020 Came into Effect Nov 26 – The National Law Review

Advertisement Thursday, November 26, 2020 On 26 November 2020, The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (the Regulations) came into force. The Regulations have exactly the same impact as the suspension of liability for wrongful trading that was brought into…

Australia Fed. Court: Securities Interest Vesting by Restructured Companies – The National Law Review

Thursday, November 26, 2020 The Federal Court has today sensibly ruled that security interests do not vest in the company grantor simply because the company had at some time previously been in liquidation, administration or subject to a deed of company arrangement (DOCA). This decision should come as a great relief to secured lenders and…

Pre-packaged: Viable route to insolvency – Economic Times

The Insolvency and Bankruptcy Boards proposal to allow companies to withdraw from the process of voluntary liquidation is pragmatic. It will facilitate revival. This also makes the case for a pre-packaged insolvency resolution all the more compelling. Pre-packs entail a debtor-initiated reorganisation plan beforehand with creditors on board instead of a financial bidding process for…

Europcar Mobility Group Reaches a Major Step With an Agreement in Principle on Financial Restructuring With Main Creditors, Supporting Its Connect Transformation Program – Business Wire

PARIS–(BUSINESS WIRE)–Regulatory News: Europcar Mobility Group (Paris:EUCAR): The Agreement in Principle has been entered into by the Company with a group of significant cross-holders2 in the 2024 Senior Notes, 2026 Senior Notes, EC Finance plcs Senior Secured Notes and holding interests in the RCF and the Credit Suisse Facility and has been approved at the…

Debt Consolidation Loans Compared | Scoop News – Scoop.co.nz

Thursday, 26 November 2020, 4:45 pmPress Release: MoneyHub MoneyHub’s re-launched guide to debt consolidation loans helps explain the benefits of combining debts into one loan. For homeowners, the guide explored the option of a revolving mortgage facility which can work out to be significantly cheaper than a new loan. MoneyHub’s Senior Researcher Christopher Walsh said:…