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Insolvency & Restructuring

11 September 2020
Jonathan Hughes Recognition of UK insolvency practitioners in Jersey

Jersey - Ogier

In the current COVID-19 environment, more businesses will likely become insolvent, some of which will have an interest in Jersey property. Insolvency practitioners appointed outside Jersey in respect of an overseas person or company (or Jersey company subject to English insolvency proceedings) must be recognised in Jersey before they can deal with certain forms of Jersey property. This is because Jersey immoveable property can be transacted only by passing a contract before the Royal Court.

Authors: Jonathan Hughes, Damian Evans, Helen Ruelle
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Beat Mumenthaler Opening bankruptcy proceedings during COVID-19 pandemic

Switzerland - Pestalozzi Attorneys at Law

Company boards of directors have a duty to continuously monitor the company's financial situation and take certain measures if it gets into financial difficulties. Given the extraordinary circumstances caused by the COVID-19 pandemic, the government has temporarily suspended their duty to notify the bankruptcy court in the event of imminent overindebtedness where there is a possibility that this situation can be remedied after the crisis.

Authors: Beat Mumenthaler, Alain Muster, Lukas Rusch
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Recent updates

Jeremy Snead Restructuring – current state of play

Cayman Islands - Ogier

Authors: Jeremy Snead, Marc Kish, Gemma Lardner
Timothy Hoffmann Assets may be sold in bankruptcy free and clear of successor liability

USA - Jones Day

Authors: Timothy Hoffmann, Mark Douglas
Tan Meiyen Landmark decision on legal standing of foreign companies to apply for Section 211B moratorium under Companies Act

Singapore - Oon & Bazul LLP

Authors: Tan Meiyen, Keith Han
Rachael Markham HMRC Crown preference restored from 1 December 2020 – impact on lenders and UK corporates

United Kingdom - Squire Patton Boggs

Author: Rachael Markham