The United Nations Commission on International Trade Law Working Group V has been working on a simplified insolvency regime for six sessions because “[m]icro, small and medium-sized enterprises (MSMEs) (MSEs) constitute the majority of businesses in economies around the world.” Its efforts are aimed at ameliorating the effects of ri
It has been another great year for the International Committee. As co-chairs, we would like to thank all the members of the ABI International Committee for their support and continued participation on the committee for 2019. The committee’s success reflects the hard work of its members each year.
This article addresses the legal issues arising from the cross-border insolvency proceedings for Jet Airways Ltd., India’s largest private airline, which maintained flight routes around the world but stopped flying on April 17, 2019.
The United Nations Commission on International Trade Law promulgated the Model Law on Cross-Border Insolvency (Model Law) as “a uniform approach” to having one proceeding — a foreign main proceeding — be principally responsible for managing a debtor’s insolvency regardless of the number of jurisdictions in which the debtor has assets or creditors.
Not all governmental units within a jurisdiction change their laws in concert with each other, nor should they: They may have different roles, functions, populations and constituencies, and financial profiles.
As Canada moves toward marijuana legalization in 2018, the cannabis industry is quickly emerging as one of the most promising Canadian markets. Early estimates predict that the medical/recreational cannabis industry will reach $10 billion by 2020, offering exciting opportunities for astute entrepreneurs.
The new safe harbour from insolvent trading is the most significant change to corporate insolvency law in Australia since the introduction of voluntary administration in 1993. Before the reform was enacted, directors of insolvent companies were effectively mandated to appoint a voluntary administrator.
The collapse of the Urbancorp group of companies has provided an opportunity for an unusual interplay of bankruptcy proceedings between Canada and Israel. The courts in both countries have had to address issues and demonstrate significant judicial cooperation between two countries with vastly different legal systems.
The recent decision by the Federal Court of Appeal (FCA) in Canada v Callidus Capital Corporation has turned on its head the commonly understood ordering of priorities amongst secured creditors and the Canada Revenue Agency’s (CRA) “deemed trust” claims in and out of bankruptcy proceedings.
Hosted by the International and Legislation Committees: In recent years, multiple jurisdictions have reformed or modernized their insolvency laws, either through incremental amendments or by entirely replacing the legislation. In this session, attendees will hear from practitioners from various jurisdictions about what motivated the decisions to amend their insolvency laws — and how the process unfolded in practice.
People and Assets on the Move Overseas: What You Need to Know to Hold Everything Still and Seize the Assets
Structuring Cross-Border Deals to Protect Creditor Interests
The Business Reorganization Committee held a free committee wide call on Tuesday, September 23rd, at 4 pm ET. The topic was titled "Looking at International Insolvency/Restructurings Through the Bankruptcy Code and Beyond," and featured key speakers, including: Patrick Mohan (Moderator) of Reorg Research (Columbia, S.C.), Rachel Ehrlich Albanese of Akin Gump Strauss Hauer & Feld LLP (New York), G.
Gowling WLG (Canada) LLP
Santa Clara, CA
Mayer Brown LLP
Membership Relations Director
Dentons Canada LLP
Togut, Segal & Segal LLP
New York, NY
Sewell & Kettle Lawyers
Special Projects Leader
Reid Collins & Tsai LLP