Congress has taken a significant step to expand access to bankruptcy relief for small businesses by permanently increasing the debt eligibility limit for Subchapter V of chapter 11. The legislation, known as the Bankruptcy Threshold Adjustment Act (H.R. 7730), raises the Subchapter V debt ceiling from approximately $3.4 million to $7.5 million. Once signed by … Continue Reading
The Court of Appeal has handed down judgment in the Petrofac restructuring plan, overturning the sanctioning of the plans by the High Court. This is only the third time a restructuring plan has been considered by the Court of Appeal, in this blog we focus in on some of the key points of interest for … Continue Reading
Over the last seven months there has been a spate of cases dealing with the relationship between arbitration law and insolvency law. Winding-up petitions and arbitration clauses Where a winding-up petition has been presented on the basis of a contractual debt and the contract contains an arbitration clause, the Court should exercise its discretion to dismiss … Continue Reading
