Akin Gump Lawyers Author UK, HK Restructuring and Insolvency Practical Law Overviews

UK (England & Wales)

Akin Gump financial restructuring partners James Terry, Tom Bannister and Emma Simmonds and counsel Lauren Pflueger have once again authored the Q&A article “Restructuring and Insolvency in the UK (England & Wales): Overview,” which has been published in this year’s Reuters Practical Law Finance Global Guide.

Among the topics the authors discuss:

• Where creditors and contributories rank on a debtor’s insolvency.
• The main rescue / reorganization procedures in various jurisdictions.
• The circumstances in which a debtor can continue to carry on business during rescue or insolvency proceedings.

The full article can be viewed here.

Hong Kong

Akin Gump financial restructuring partner Naomi Moore and counsel Jeremy Haywood also returned to author the Q&A guide “Restructuring and Insolvency in Hong Kong: Overview,” published in this year’s Practical Law’s Finance Global Guide.

The guide provides a high-level overview of the most common forms of security granted over immovable and movable property; creditors' and shareholders' ranking on a company's insolvency; mechanisms to secure unpaid debts; mandatory set-off of mutual debts on insolvency; state support for distressed businesses; rescue and insolvency procedures; stakeholders' roles; liability for an insolvent company's debts; setting aside an insolvent company's pre-insolvency transactions; carrying on business during insolvency; additional finance; multinational cases; and proposals for reform.

The full article can be viewed here.