Mondaq Europe: Insolvency/Bankruptcy, Re-structuring
Insolvency and other notices must be now lodged with ASIC for publication on ASIC's new website.
The means of obtaining information on a person’s creditworthiness were broadened in 2011 by launching a pending execution proceedings register kept by the Bulgarian Private Bailiffs Chamber.
How does a creditor take security over assets in Bulgaria?
During the current economic downturn the number of insolvency proceedings in the Czech Republic continuously increases.
In France, it is an irony that EU legislative provisions intended to encourage prompt payment of invoices by debtors should result in criminal prosecutions against creditors.
On 12 December 2012, the European Commission submitted a proposal for a Regulation to amend Regulation (EC) No 1346/2000 on insolvency proceedings.
The deadline by which the Solvency II Directive must be applied has been moved from 1 November 2012 to 1 January 2014.
Regulation (EC) No. 1346/2000 dated May 29, 2000 regarding insolvency proceedings was applicable in the context of civil proceedings concerning the existence of a right in rem.
In a recent case, decision 2012:63, the Supreme Court of Finland considered whether the District Court of Turku had international jurisdiction over an action for recovery in bankruptcy brought against two foreign companies.
The German Parliament has, in response to the ongoing crisis in the financial markets, extended a legislation, which originally came into force on October 18, 2008.
Minister for Justice Alan Shatter recently unveiled further details about the new personal insolvency process, which forms part of the Personal Insolvency Act, 2012.
A discussion relating to a recent decision, which has important implications for insolvency procedures and particularly the difference between Cayman Islands law and the UK and USA.
The Minister for Justice, and Director of the Insolvency Service of Ireland, have recently launched the ISI’s public information campaign, which includes guides to the three new personal insolvency arrangements, its website and an information helpline for queries.
The Land and Conveyancing Law Reform Bill has been drafted to address the unintended consequences of the 2009 Act and the uncertainty in the law relating to the exercise by lending institutions of their right to summary possession.
The Irish Government enacted the Irish Bank Resolution Corporation Act 2013 in the early hours of 7 February 2013
Irish Bank Resolution Corporation Act and Appointment of Special Liquidators.
The Finance Bill 2013 introduces a number of provisions that impact on the VAT treatment of transactions involving liquidators, receivers and mortgagees in possession.
This Briefing contains a general summary of developments and is not a complete or definitive statement of the law.
The courts recently considered the issue of enforceability in Ireland of an order if made by Swiss courts in Swiss liquidation proceedings.
As a measure against the economic crisis the Austrian legislator has prepared a reform of the Austrian Insolvency Law. The motto is "restructuring instead of ruining" ("Sanieren statt Ruinieren").
How does a creditor take security over assets in Austria?
On 12 December 2012, the European Commission submitted a proposal for a Regulation to amend Regulation (EC) No 1346/2000 on insolvency proceedings.
This Briefing contains a general summary of developments and is not a complete or definitive statement of the law.
A discussion relating to a recent decision, which has important implications for insolvency procedures and particularly the difference between Cayman Islands law and the UK and USA.
Although not on appeal from an Isle of Man court, the Supreme Court in these two cases dealt with principles very relevant to Manx lawyers.
A guide which outlines the procedures to wind up Jersey registered companies, the circumstances in which transactions entered into by an insolvent company may be set aside, and the circumstances in which a company’s officers and managers may incur civil or criminal liability.
As Europe is overshadowed by sovereign debt crisis, EU core and peripheral countries seem to be drifting apart.
On Friday 21 October 2011, the Bankruptcy Court in the Southern District of New York handed down an important decision, confirming that foreign (groups of) companies can use Chapter 11 without any significant threshold as to their nexus with the United States.
So Eurosail-UK 2007-3BL plc (Eurosail) is not ‘balance sheet’ insolvent, no event of default has occurred under the RMBS notes it has issued and a post-enforcement call option (PECO) does not make limited recourse any of the notes it relates to.
Where a solvent company goes into liquidation voluntarily its creditors can expect to recover everything due to them. But what happens if a creditor’s claim is contingent?
An interesting development over the last four years has been the growth of bankruptcy tourism.
A commentary on the UK Supreme Court judgment in the joined cases of Rubin and another v Eurofinance SA and others and New Cap Reinsurance Corporation (in liquidation) and another v A E Grant and others [2012] UKSC 46, which has been anxiously awaited by the UK's restructuring and insolvency community.
A contingent creditor may not be entitled to stop a liquidator making a distribution particularly where the contingency is not imminent.
Nearly three years after the High Court decision on the case of BNY Corporate Trustee Services Ltd v Eurosail UK 2007 - 3BL PLC and others was handed down, the case has run its course in the Supreme Court.
When is a company in insolvent? When is a company's assets less than its liabilities (taking account of contingent and prospective liabilities)?
It is essential element of any challenge of a payment made under section 238 of the Insolvency Act 1986 that the company actually enters into the transaction being called into question.
A discussion on why landlords need to be vigilant when their tenants are going into administration.
The English Supreme Court’s eagerly awaited decision on the Eurosail litigation, concerning how the "balance sheet" test for insolvency should be applied, was released today.
A discussion on a recent case where a chapter 13 plan proposed to strip off the lien of a junior residential mortgage that was totally underwater.
Most Popular Recent Articles
A discussion relating to a recent decision, which has important implications for insolvency procedures and particularly the difference between Cayman Islands law and the UK and USA.
This Briefing contains a general summary of developments and is not a complete or definitive statement of the law.
Where a solvent company goes into liquidation voluntarily its creditors can expect to recover everything due to them. But what happens if a creditor’s claim is contingent?
Minister for Justice Alan Shatter recently unveiled further details about the new personal insolvency process, which forms part of the Personal Insolvency Act, 2012.
The English Supreme Court’s eagerly awaited decision on the Eurosail litigation, concerning how the "balance sheet" test for insolvency should be applied, was released today.
Some important changes to costs in legal proceedings take effect from 1 April 2013. One such change affects the operation of Conditional Fee Agreements (CFAs).
Following the European Commission’s recent publication of "Level II" implementing measures for the Alternative Investment Fund Managers Directive (AIFMD), the alternatives industry finally has sufficient certainty to commence meaningful analysis on how business models will be affected. One
IRHPs threaten to be the latest in a string of scandals against the major banks.
The Minister for Justice, and Director of the Insolvency Service of Ireland, have recently launched the ISI’s public information campaign, which includes guides to the three new personal insolvency arrangements, its website and an information helpline for queries.
An interesting development over the last four years has been the growth of bankruptcy tourism.
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