Global Insight - Restructuring e-Newsletter: Oil and gas sector distress - UK and US perspectives; PRC real estate restructuring; England's changing approach to ipso facto clauses; Indian debt restructuring opportunities; and more

Issue 14

Restructuring - Global Insight

DLA Piper's Global Insight is a digital publication bringing you news, views and analysis from our Global Restructuring Group.

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In this issue

  • Oil and gas bankruptcies will be complex - a US perspective
    1 JUL 2015

    How much stress can we expect to see for oil and gas producers and related companies as a result of the current low prices? And what special issues does this industry face when it’s time to restructure or file for bankruptcy?*

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  • Berlin, Germany's leading tech city, to push venture capital reforms
    1 JUL 2015

    Following up on our report in the Q1 2015 issue of Global Insight on “Intellectual Property Rights in German Insolvency Law”, which discussed the outdated provisions governing IP rights under German insolvency law, here are the latest developments to enhance possibilities and ease procedures for investors and startup companies.

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  • A UK perspective on oil price volatility - industry impact and legal considerations
    1 JUL 2015

    The dramatic decrease in the price of crude oil over the last eleven months has had ramifications across the globe. With prices currently languishing between US$60 and US$65 a barrel following the decision in November 2014 by the Organisation of Petroleum Exporting Countries (OPEC) to keep its output levels unchanged (a decision re‑affirmed in June 2015), oil companies the world over have been forced to slash investment by reducing capital expenditure and exploration spending while simultaneously implementing a raft of cost cutting and efficiency measures.

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  • Kaisa - a case study of real estate restructuring in the PRC
    1 JUL 2015

    Moody's announced in October 2014 that the detainment of Agile Property Holdings' chairman, Chen Zhoulin by government authorities was credit negative, in Moody's view, "similar incidents would adversely affect developers' borrowing costs and/or their access to offshore funding". The events that have unfolded since show that Moody's were right on the money.

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  • New debt restructuring opportunities in India?
    1 JUL 2015

    It has long proved difficult to deal with financially distressed companies in India. One of the main reasons is the many tools available to the existing management of a company to prevent an external creditor from taking control over the company. On June 8, the Reserve Bank of India (RBI) issued a circular introducing new measures that should provide help to lenders struggling to cope with the mountain of bad debt owed by Indian corporates.

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  • Can a bankrupt's pension pot be used to pay creditors? The search for clarity in New Zealand and the UK
    1 JUL 2015

    How does the objective of achieving payment for creditors in insolvency interact with the objectives of pension legislation, which seeks to ensure that individuals are adequately provided for in retirement? The courts in New Zealand and in the UK have each recently grappled with this issue. In both of the recent cases considered in this article the pensions objectives won out and the specific pension funds in question were not made available for the bankrupt individual's creditors. However ambiguities and inconsistencies in this area remain in both the UK and New Zealand.

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