North America: Insolvency/Bankruptcy/Re-Structuring

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Article
BVI Insolvency Law: To Act Or Not To Act (Without Sanction) – That Is The Question
The BVI Commercial Court has issued conflicting first instance decisions on whether liquidation orders should restrict liquidators' powers to act without court sanction. Two recent judgments—Guangzhou Leyi Investment Development Co., Ltd. v SZE Ming Limited and Jin Yao Holdings Ltd v Forever Winner International Ltd—adopt fundamentally different approaches to the "discretionary sanction regime" under section 186(3) of the BVI Insolvency Act 2003, creating uncertainty for practitioners and liquid
British Virgin Islands Insolvency
C
Conyers
Article
State Law Can’t Terminate General Partner’s Management Right
A bankruptcy filing can preempt state law, permitting termination of a General Partner’s management right. Generally speaking, partnership agreements provide and state laws provide for the removal of a General Partner’s management rights when a General Partner files bankruptcy. But, what happens when the General Partner files bankruptcy and such management rights become property of the estate?
United States Insolvency
CT
Cowles & Thompson, PC
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Article
BVI Insolvency Law: To Act Or Not To Act (Without Sanction) – That Is The Question
The BVI Commercial Court has issued conflicting first instance decisions on whether liquidation orders should restrict liquidators' powers to act without court sanction. Two recent judgments—Guangzhou Leyi Investment Development Co., Ltd. v SZE Ming Limited and Jin Yao Holdings Ltd v Forever Winner International Ltd—adopt fundamentally different approaches to the "discretionary sanction regime" under section 186(3) of the BVI Insolvency Act 2003, creating uncertainty for practitioners and liquid
British Virgin Islands Insolvency
C
Conyers
See more
See more