International Insolvency

Co-Chairs Corner

It is hard to believe how quickly 2022 has flown by. We wish you and your family a healthy, happy and prosperous new year filled, hopefully, with some international travels. The International Committee has indeed been busy; keep reading to hear all the amazing things we have been up to!!!

Toward a New DIP-Financing Regime Under European Restructuring Plans: Views from Spain

The EU Directive on restructuring and insolvency [1] has imposed an obligation to Member States to introduce relevant changes in their legal regimes on restructuring plans, which can be implemented even if the entity is in “the likelihood of insolvency.” [2] The purpose of the EU Directive is to encourage companies to address insolvency problems at a very early stage so they avoid one of the effects of formal insolvency proceedings: the social stigma, which, unfortunately, is still common in Europ

Burford Abstention Can Apply in Bankruptcy Alongside Abstention in 28 U.S.C. § 1334(c)

Interference with state regulators can compel a bankruptcy court to abstain, even if abstention was not required under 28 U.S.C. § 1334(c).

Creditors’ Possibility of Recovering Goods from Bankrupt Debtors Under Insolvency Proceedings: An Overview of U.S. and Mexican Insolvency Laws

Separation Action Under Mexican Insolvency Law

Insolvency Reforms to Nigeria’s Companies and Allied Matters Act 2020

On Friday, Aug. 7, 2020, President Muhammadu Buhari assented to the Companies and Allied Matters Bill, recently passed by the National Assembly of the Federal Republic of Nigeria. [1] The bill introduced significant insolvency reforms, including procedures for Administration and Company Voluntary Arrangements, as well as regulations for Insolvency Professionals. The reforms were introduced to align the jurisdiction with international best practices.

Revisiting the Rule in Gibbs following Rare Earth and Modern Land

There has been growing debate in recent years over the continued relevance of the common law rule in Antony Gibbs & Sons v La Societe Industrielle et Commerciale des Metaux (1890) LR 25 QBD 399 (the “Gibbs Principle”). The Gibbs Principle basically means that where a contract is governed by the law of a particular country, it cannot be discharged or compromised under the insolvency law of another country — unless the creditor has submitted to that other jurisdiction.

Matter of the Year Summary: LATAM Airlines Group S.A.

First Annual ABI International Matter of the Year Award

Matter of the Year Honorable Mention: Luckin Coffee Inc.

First Annual ABI International Matter of the Year Award

NYC Cross-Border Conference Recap

After two years of being held virtually, ABI’s in-person Cross-Border Insolvency Program resumed on Nov. 14 in the Blank Rome LLP Conference Center in Manhattan. Thanks go to Evan Zucker and Blank Rome for hosting the conference.

ABI Holds International Insolvency & Restructuring Symposium in London

For the first time since the start of the pandemic, ABI held its annual International Insolvency & Restructuring Symposium in person, returning to London Oct. 13-14. The symposium was held in conjunction with the American College of Bankruptcy, the International Insolvency Institute (III), INSOL, IWIRC and TMA Europe, and featured many of the hottest topics in international restructurings.