178 results found for: corporate insolvency and governance
Latest Thinking | 03 August 2020
Welcome to our soundbite series on the new Corporate Insolvency and Governance Act 2020 which came into effect on 26 June 2020. The provisions of the Act are complex and could have significant impact on companies in distress and their creditors, particularly landlords, suppliers, financial services...
Latest Thinking | 09 June 2020
Update ; The Corporate Insolvency and Governance Act 2020 commenced into effect on 26 June 2020. While the final provisions of the Act largely reflected the drafting of the original Bill, certain amendments were made including to: (i) improve the information available to certain pensions creditors...
News | 20 May 2020
Responding to news that the Government has published draft legislation designed to temporarily suspend wrongful trading provisions, John Whiteoak , a partner in Herbert Smith Freehills' disputes practice, says: “We support the underlying philosophy and goals of the proposed bill – to enable...
Latest Thinking | 05 April 2017
On 28 March 2017, the Australian Federal Government ( Government ) released draft legislation in relation to two major reforms intended to encourage turnaround, restructuring and business rescue. The draft legislation introduces a safe harbour for directors from liability for insolvent trading, and...
Latest Thinking | 04 May 2016
On 29 April 2016, the Australian Federal Government ( Government ) announced three major insolvency law reform proposals in its Improving Bankruptcy and Insolvency Laws Proposal Paper 1 ( Proposal ). The Government has invited submissions from stakeholders and given this is a rare opportunity to...
Latest Thinking | 09 June 2020
Update ; The Corporate Insolvency and Governance Act 2020 commenced into effect on 26 June 2020. While the final provisions of the Act largely reflected the drafting of the original Bill, certain amendments were made including to: (i) improve the information available to certain pensions creditors...
Latest Thinking | 02 February 2016
The past two decades has seen corporate governance take an increasingly prominent role within the Australian business environment. In the wake of high profile corporate collapses and against the backdrop of the global financial crisis, Government, companies and shareholders alike have actively...
Latest Thinking | 09 June 2020
Update ; The Corporate Insolvency and Governance Act 2020 commenced into effect on 26 June 2020. While the final provisions of the Act largely reflected the drafting of the original Bill, certain amendments were made including to: (i) improve the information available to certain pensions creditors...
Latest Thinking | 19 May 2016
There has been an ongoing conversation in Australia about whether the current insolvent trading laws are stifling the turnaround of viable businesses by requiring directors to file for voluntary administration, when a better outcome could be achieved through restructuring. The Government has...
Latest Thinking | 05 December 2022
With distress in crypto hitting headlines and the emergence of high-profile insolvencies and distress in the market in recent months, our UK restructuring, turnaround and insolvency team consider the key risks and legal issues facing the industry and investors.
News | 27 August 2020
Herbert Smith Freehills is pleased to welcome special counsel, Natasha McHattan, to its market-leading Restructuring, Turnaround and Insolvency (RTI) practice in Australia
Latest Thinking | 16 July 2020
This article first appeared in Volume 17, Issue 4 of International Corporate Rescue and is reprinted with the permission of Chase Cambria Publishing .
News | 17 November 2016
Australia needs to follow the lead of Singapore and push ahead with restructuring and insolvency law reform so that greater flexibility can be provided and viable businesses can be rescued, according to Herbert Smith Freehills’ restructuring, turnaround and insolvency experts.
Latest Thinking | 18 October 2022
A much-anticipated UK decision confirms directors' obligations to creditors, but changes little in practice
Latest Thinking | 20 July 2022
With a tightening market for capital, the ‘safe harbour’ protections may be critical for Australian startups and scaleups who are unsure if they can raise more capital within their current cash runway or who need to raise through debt securities like convertible notes. Relying on ‘safe harbour’...
Insight | 16 September 2020
As the UK's Corporate Insolvency and Governance Act ushers in far-reaching reforms, we assess the implications for the troubled aviation sector
Latest Thinking | 27 October 2016
Changes to Australia’s corporate insolvency laws are set to come into effect in 2017 and will result in an increase of powers for creditors in external administrations.
Latest Thinking | 27 May 2020
The Government on 20 May 2020 published the Corporate Insolvency and Governance Bill , which contains the most far-reaching reforms to UK insolvency law in over 30 years. The Bill has been introduced on an emergency basis in an attempt to ensure that otherwise financially viable companies survive...
Latest Thinking | 02 April 2020
Latest Thinking | 21 January 2021
Background and purpose of the proposals On 8 th January proposals for a new ‘Prepackaged Insolvency Resolution Process’ ("PIRP") were issued by the Indian Ministry of Corporate Affairs for public consultation, and we have considered them from a foreign perspective. The proposals are continuing...
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