Author

Bevis Metcalfe

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The snapshot from 2021 How do you restructure a 21st century company that has operations across the world and assets and liabilities governed by different legal systems? This is the question that restructuring professionals have been grappling with more than ever over the last year. Unfortunately, there is still not a simple answer, and bespoke solutions often need to be crafted depending where in the world the debtor and its assets are located, and what…

What is it? The UK Corporate Insolvency and Governance Act 2020 came into force on 26 June 2020. It introduced a new restructuring plan procedure amongst its package of permanent measures. The restructuring plan gives directors another tool when considering restructuring options. Directors faced with financial distress can now weigh up the new restructuring plan, or the existing “tried and tested” scheme of arrangement. At first blush the two processes are very similar. Like the…