David Bulley

Jan 2, 2024 | mondaq.com | David Bulley |Lorinda Peasland |Ida Nylund

Schemes of Arrangement are often used as a successful restructuring tool, whether by way of a scheme promulgated in a company's home jurisdiction or overseas. One criteria that must generally be satisfied is that the scheme will substantially achieve its purpose in the key jurisdictions in which the company has liabilities or assets. The court does not need certainty as to the position under foreign law but will need to be satisfied that it will not be acting in vain in sanctioning a scheme.

Aug 17, 2023 | mondaq.com | David Bulley |Simon Jerrum

In a sign of what may be to come, a number of recent judgments have been handed down in the BVI, the Cayman Islands and Hong Kong dealing with the ability of ultimate beneficial noteholders to petition for the winding up of the issuer of US law governed notes. Given the current economic climate, with expected increases in high yield bond defaults, it seems certain that more investors will be looking at their enforcement options in the near future.