Restructuring & Corporate Recovery Update - August 2011
23-Aug-2011 | Banking & Finance, Restructuring & Corporate Recovery
Welcome to Taylor Wessing's August 2011 RCR Update summarising what we think are the more interesting recent legal developments in restructuring and corporate recovery. In this issue we look at:
- Removal of Administrators from office – when is there just cause?
- Who gets to choose the administrator?
- Rights under an indemnity in a business sale agreement revisited
- Confirmed: Under English law a priority ‘flip’ clause does not offend the anti-deprivation principle
- Proposed distribution by administrators an unlawful return on capital
- UNCITRAL: Further Guidance on the Model law on insolvency proceedings
- Possible changes to bankruptcy rules
Lawyers Nick Moser, Neil Smyth, Claire Martin-Royle
