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Priyanka Usmani

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Priyanka Usmani is a Partner in Baker McKenzie’s Banking and Finance Department based in London. Priyanka predominantly acts on restructuring and insolvency matters, often with multijurisdictional aspects, representing a range of clients both on the debtor side (acting for companies and financial sponsors), the creditor side (acting for institutional lenders and funds) and insolvency officeholders. Priyanka is accustomed to acting for the full spectrum of stakeholders in any restructuring and insolvency situations, including investors and directors of distressed (or potentially distressed) companies.

Since joining Baker McKenzie, Priyanka has spent six months on secondment with the workout team at Barclays.
In Corporate Compliance

United Kingdom: Supreme Court confirms existence of directors’ “creditor duty”

by , and 8 Mins Read

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

In Corporate Compliance

United Kingdom: Supreme Court confirms existence of directors’ “creditor duty”

by , and 8 Mins Read

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

In Austria

Europe: The New European Restructuring Schemes – Update May 2022

by , , , , , , , and 1 Min Read

Through the EU Directive on Restructuring and Insolvency of 20 June 2019 (EUR 2019/1023, “Directive”), the European Union has imposed an obligation on its member states to offer a more attractive and flexible restructuring scheme in their respective local law. The initial deadline to do so had been 17 July 2021. Only a handful of countries (most notably Germany and The Netherlands) had implemented the Directive within the initial deadline, whilst the other countries made use of the possibility to ask for a one year extension.

In Corporate Compliance

United Kingdom: Extended powers for the Insolvency Service to investigate and sanction former directors of dissolved companies introduced

by , and 3 Mins Read

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act (“Act”) received royal assent on 15 December 2021. The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities.