Author’s Note: Australia has a debtor-in-possession insolvency system administered by insolvency practitioners.
Committees
The term “silver lining” comes from Milton’s Comus, in which the silver lining is the light of the moon shining behind a cloud.[2] It is very difficult to find a silver lining in the COVID-19 pandemic, which has caused more than 500,000 deaths in the U.S.
In Canadian proceedings, it had previously been common for assets of the debtor to be conveyed to a purchaser through the granting of a vesting order. Normally, the court supervising the relevant insolvency proceeding in approving the transaction would issue an order that title to the purchased assets would vest in the purchaser “free and clear” of the claims of the vendors’ creditors.
2020 was undoubtedly a massive challenge for all countries, but it was especially dramatic for Brazil, which has been severely hit by coronavirus outbreak. Among the most affected countries, Brazil is fighting one of the biggest battles of its history, with a little over 10 million cases so far and a case-fatality rate of 2.4%.
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.”[1] 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.
Co-Chair
Baker & Partners
George Town, null
(345) 745-3651
Co-Chair
Troutman Pepper
Wilmington, DE
(302) 777-6532
Communications Manager
Akerman LLP
Austin, TX
(737) 999-7103
Education Director
Mourant
British Virgin Islands,
(284) 852-1709
Newsletter Editor
PLUTA Management GmbH
Munich, other
4989244133370
Newsletter Editor
Blank Rome LLP
New York, NY
(212) 885-5207
Special Projects Leader
Dentons Canada LLP
Toronto, ON
(416) 863-4374