Worldwide: Insolvency/Bankruptcy/Re-Structuring

The decision explores the limits of the Court of Appeal’s findings in Sequana as to when dividends may be transactions at an undervalue, and suggests a “common sense” approach to identifying the relevant transaction.

As the UK Turnaround & Restructuring practice reaches mid-2026, market activity has accelerated sharply amid persistent disruption and unsettled macroeconomic conditions. This newsletter examines the firm's global expansion, including new offices in Sydney and the acquisition of Canadian advisory firm KSV, while exploring AI's growing impact on Software-as-a-Service and emerging priorities for private equity sponsors and financial stakeholders.

Private credit lenders face a new reality as U.S. distressed borrowers increasingly turn to English restructuring tools to reorganize New York law-governed debt outside of Chapter 11. Recent cases demonstrate how Schemes of Arrangement and Restructuring Plans can bind dissenting creditors, reduce minority creditor influence, and potentially circumvent the absolute priority rule. Understanding these cross-border mechanisms has become essential for lenders navigating modern restructuring dynamics.