Philippines | COVID-19 – Restructuring & Insolvency – ICLG.com

The world has been experiencing a massive downturn over the recent months because of the COVID-19 pandemi… The world has been experiencing a massive downturn over the recent months because of the COVID-19 pandemic. Locally, the Philippine government has reactively imposed community quarantine measures of varying degrees. The actions taken have resulted in disruptions in…

Aeromexico CEO says company must ‘transform’ as shares sink after bankruptcy filing – Reuters

MEXICO CITY (Reuters) – Mexican airline Aeromexico will offer fewer flights and have fewer planes in the short term as it begins a Chapter 11 restructuring process, Chief Executive Andres Conesa said on Wednesday, after shares plummeted to record lows. Passengers, wearing protective masks following an outbreak of the coronavirus disease (COVID-19), wait for flights…

Corporate Insolvency and Governance Act 2020 comes into force (Updated on June 29, 2020) – JD Supra

On 26 June, the long-awaited Corporate Insolvency and Governance Act 2020 became law providing the UK and Northern Ireland with temporary and permanent changes to insolvency law aimed at helping businesses manage the economic implications of COVID-19 including: Permanent measures Company moratorium a breathing space against creditor action, initially for 20 business days but extendable,…