Publication
Finance Act 2025 receives Royal Assent
The Finance Act 2025, bringing into force measures announced in the October 30, 2024, Budget, has now come into force.
Delaware ruling poses jurisdictional challenges for chapter 11 debtors
Global Restructuring Review
United States | Publication | October 2022
Norton Rose Fulbright partner Andrew Rosenblatt and senior counsel Jason Blanchard examine the “far-reaching” implications of a recent Delaware bankruptcy court decision that they say provides foreign counterparties in cross-border Chapter 11 cases with a potential tool to contest the assumption of their contracts.
Under Chapter 11 of the US Bankruptcy Code, a debtor may generally assume an executory contract if it cures any monetary defaults and provides adequate assurance of future performance. But in a case of first impression in the restructuring of Chilean hydroelectric plant operator Alto Maipo, the US Bankruptcy Court for the District of Delaware imposed an additional requirement for contract assumption, finding that it must have personal jurisdiction over the contract counterparty.
Read the full Global Restructuring Review article, "Delaware ruling poses jurisdictional challenges for chapter 11 debtors."
Recent publications
Publication
HMRC publishes Pension schemes newsletter no 168
In addition to information for scheme administrators, the newsletter includes a reminder that following the abolition of the lifetime allowance from April 2024, applications for fixed protection 2016 and individual protection 2026 must be made by April 5, 2025.
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