Publication
Pensions Regulator announces changes to the DC scheme return for 2024
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Welcome to our fourth quarter issue of Norton Rose Fulbright's International Restructuring Newswire. We again draw on our global team of lawyers to address some of the key issues facing restructuring professionals.
The recent restructuring of the Dutch shipping group Vroon demonstrates vividly the challenges facing practitioners dealing with the complexities of cross-border situations. The restructuring also demonstrates that with creativity and perseverance, practitioners can use the tools that exist to put together deals that preserve businesses and maximize recoveries for creditors and other stakeholders. Here, we take an in-depth look at the successful Vroon restructuring and how the parties used both a Dutch WHOA and an English scheme of arrangement to get the deal done.
In this issue, we also hear from our practitioners in Canada on the challenges to intercreditor covenants in insolvency proceedings and in the US on how cannabis companies fare in the US bankruptcy courts. And we take a global view on two increasingly critical issues: the use of mediation in restructurings and risk to directors of companies on the cusp of insolvency.
Good reading!
Howard Seife
Global Co-Head of Restructuring
New York
Scott Atkins
Global Co-Head of Restructuring
Sydney
Publication
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Publication
On July 30, 2024, the Regulator published its market oversight report on how trustees are complying with their environmental, social and governance (ESG) duties, including in respect of climate change.
Publication
We reported last month that the Court of Appeal had agreed with the High Court’s previous judgment that all rule amendments to contracted-out DB schemes between 1997 and 2013 require written actuarial certification. Three pensions professional bodies have now issued a joint statement on the effect of the ruling.
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