Tag Archives: utilities

Gibraltar Court Recognises Chapter 11 Bankruptcy as a Foreign Main Proceeding

Peabody Energy Corporation is one of the biggest energy companies in the world. Its main business is coal mining and it conducts extensive operations in the United States and in Australia. Peabody had been hit by declining coal prices both for thermal coal and also for metallurgical coal used for steel making, especially due to the declining demand from … Continue Reading

Teenagers And The D.C. Circuit Agree: Internet Service Is A Utility – Will Bankruptcy Courts Follow?

The topic of net neutrality has continued to be at the forefront of public discourse over recent years.  This is the result of the FCC’s repeated attempts to impose regulations designed to protect consumers while at the same time telecom companies seek to control their product and the services they provide without what they contend … Continue Reading

Spanish Solar Energy Crisis: Restructuring Abengoa

Abengoa, the Spanish engineering and energy firm, has communicated to Spain’s High Court that it has initiated restructuring negotiations with its creditors in an attempt to avoid insolvency proceedings. If the restructuring is unsuccessful, it would produce one of the major insolvencies in the history of Spain. On December 18 2015, the Court said it would … Continue Reading

Powerful Changes to UK Insolvency Legislation – Are You Ready?

On 1 October 2015, several changes to UK insolvency legislation are coming into force. Insolvency practitioners and stakeholders should take note of the following key amendments to make sure they are up to date with these changes. The amendments are the next raft of changes to insolvency law under the Small Business Enterprise and Employment Act … Continue Reading

Water into WIFI – A Modern Definition of “Essential”

On 1 October 2015 the Insolvency (Protection of Essential Supplies) Order 2015 (“PESO”) will come into force. PESO aims to strengthen the statutory protection provided to insolvent companies and insolvency practitioners who need to utilise ‘essential supplies’ to continue to trade. Essential Supplies When a business enters an insolvency process they often need continuity of … Continue Reading

The Protection of Essential Supplies Order 2014 – Correcting an Imbalance Between IT Suppliers and Insolvency Customers?

After years of lobbying by Association of Business Recovery Professionals and others, the Enterprise and Regulatory Reform Act 2013 (ERRA) received Royal Assent in April 2013.  Most importantly, the ERRA gives the Secretary of State power to amend s233 of the Insolvency Act of 1986.  Section 233 was originally introduced in 1986 in an attempt … Continue Reading
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