Welcome to our fourth quarter issue of the International Restructuring Newswire, where our lawyers from around the globe share their insights on issues facing all of us in the restructuring realm. Directors, for example, need to be particularly cognizant of their duties when the companies they serve are facing financial distress. These duties may well shift depending on the status of their company and the demands of creditors and other stakeholders. We take a close look at the dilemmas facing directors in two key jurisdictions—England and Singapore—and report on critical new key decisions coming out of the courts that should guide directors’ actions. We also examine critical new trends in the cross-border restructuring world: the use of the Netherlands WHOA in conjunction with a Part 26A UK restructuring plan; the new wave of liability management transactions (LMTs) in the US; and the growing dominance of private credit in the global market.
Good reading!
Howard Seife
Global Co-Head of Restructuring
New York
Scott Atkins
Global Co-Head of Restructuring
Sydney
Publication
As previously observed, conflicts occasionally arise between mortgagees and charterers where a mortgagee wishes to take prompt action to enforce its rights, but the charterer wishes such enforcement action to be deferred until the end of the charter.
Publication
For some time now, the European Commission (EC) and national competition authorities (NCAs) have been striving to catch so-called “killer acquisitions” under their merger control rules to thereby close a perceived enforcement gap.
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