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Below you will find quick links to the findings of our 2015 guide to Energy and infrastructure research.

Part 5.1 of chapter 5 of the Corporations Act 2001(Cth) contains provisions for compromises or arrangements between a company and its creditors or the company and its members. These are generally called schemes. The scheme approval process is controlled by the court that orders the holding of meetings of creditors, classes of creditors or members. The court must also approve the information to be sent to creditors in relation to the scheme. A liquidator can also promote a scheme.

There are two primary types of business insolvency proceedings under title 11 of the United States Code (Bankruptcy Code): chapter 11 and chapter 7 proceedings.

Bankruptcy is regulated by articles 437 to 592 of the Commercial Code. Bankruptcy may be initiated by the debtor itself, by the public prosecutor or by a creditor. The procedure applies to a debtor who meets both of the following criteria: (i) not being able to pay due debts; and (ii) not being able to raise credit. The Commercial Chamber of the District Court (court) will appoint a bankruptcy trustee in charge of the bankruptcy and a judge to supervise the proceedings on granting the petition. Its aim is to realise the debtor's assets and pay the creditors through the recovered assets.

The Chinese Enterprise Bankruptcy Law (Bankruptcy Law) sets out three types of bankruptcy proceedings for firms in financial trouble: liquidation, reorganisation, and reconciliation. The debtor or any of its creditors may file for liquidation or reorganisation when the debtor becomes insolvent. Reorganisation may also be commenced if the debtor is in imminent insolvency. Only the debtor itself may file for reconciliation. Reconciliation is a process whereby the debtor renegotiates the terms of its debt with the creditors to reach a reconciliation plan, which will be binding upon all creditors once approved by the creditors' meeting and the court. Reconciliation cases are very rare in practice.

Under the existing legal regime, the main procedures of reorganisation and rehabilitation for companies in financial difficulties include schemes for compromise, arrangements and reconstruction under the Companies Act 1956, or revival and rehabilitation under the Sick Industrial Companies (Special Provisions) Act 1985 (SICA).

There are four types of insolvency proceedings available in Japan for the rehabilitation of companies in financial difficulty: corporate reorganisation proceedings (kaisha kosei); civil rehabilitation proceedings (minji saisei); bankruptcy proceedings (hasan); and, special liquidation proceedings (tokubetsu seisan).

There are two main categories of statutory bankruptcy proceedings in Norway both regulated by the Bankruptcy Act 58 of June 8 1984: winding-up proceedings and judicial debt negotiation proceedings. Judicial debt negotiation proceedings can be either voluntary or compulsory, subject to slightly different legislation.

Welcome to this year's Insolvency and Corporate Reorganisation Report, offering jurisdictional analyses and expert commentary on the most significant restructuring and bankruptcy developments from around the world

Robert van Galen, president of Insol Europe, reflects upon developments in European restructuring this year