North America: Insolvency/Bankruptcy/Re-Structuring

The Cayman and Hong Kong courts have delivered parallel rulings in Re Ourgame International Holdings Limited that fundamentally reshape how liquidators must approach applications for powers and cross-border recognition. These decisions establish that courts will scrutinize each requested power individually, requiring specific justification and evidence rather than granting blanket authority. What does this mean for practitioners seeking to make Cayman liquidations effective across multiple jurisdictions?

A New Jersey District Court decision demonstrates how carefully drafted sale orders and proper notice procedures in bankruptcy asset sales can effectively shield buyers from legacy product liability claims. The case examines the critical interplay between asset purchase agreements, court-approved sale orders, and constitutional notice requirements in determining whether pre-closing liabilities follow purchased assets or remain with the seller.

The Rules convert key parts of CIMA’s non-binding Guidance Notes into enforceable requirements; breaches may result in fines or other regulatory action. They apply to all CIMA-registered or licensed financial service providers...

Une fiducie de placement immobilier inscrite en bourse a réussi à restructurer environ 1 milliard de dollars de dettes en défaut en utilisant un plan d'arrangement en vertu de la LCSA, évitant ainsi une procédure formelle d'insolvabilité sous la LACC. Cette décision judiciaire démontre comment les outils du droit des sociétés peuvent servir d'alternatives efficaces aux procédures d'insolvabilité traditionnelles pour les sociétés ouvertes

When a company enters Chapter 11 bankruptcy, many assume the process will culminate in a lengthy reorganization plan. However, distressed businesses are increasingly being sold through a different mechanism—a sale under Section 363 of the United States Bankruptcy Code. Understanding how Section 363 sales work can help business owners, lenders, investors, and prospective purchasers identify opportunities and avoid costly surprises in bankruptcy asset transactions.

The AI boom is creating unprecedented demand for GPUs, servers, power systems, cooling infrastructure, and other data center assets in Canada. As highlighted in the Equipment Lease & Finance Association’s (ELFA) recent article, as part of the data center “gold rush,” equipment finance has become a critical part of the capital stack supporting data center development, with lenders increasingly financing GPU-backed infrastructure and related technology assets. Canada’s cooler environment, expansive geography and access to abundant water and electricity in certain provinces, make the country a desirable location to build data centers.