Firms Publications

Draft of a new regime for the rescuing of banks in Germany

Thu, 08/28/2014 - 11:04

The German bank restructuring and resolution regime is approaching its “home stretch”.

As the most recent development, the German Federal Government published a legislative package on 9 July 2014 which, among other things, aims to implement Directive 2014/59/EC (Bank Resolution and Recovery Directive – BRRD) and shall – according to the draft act – by far enter into force on 1 January 2015.

A summary of the effects is set out in this paper.

Categories: Insolvency News

Poland: corporate restructuring and insolvency procedures

Tue, 08/26/2014 - 05:22

Factsheet considering Insolvency Proceedings in Poland.

Categories: Insolvency News

Entwurf eines neuen Bankenrettungsregimes für Deutschland

Thu, 08/07/2014 - 07:39

Das deutsche Bankenrestrukturierungs- und -abwicklungsregime nähert sich der Zielgeraden.

Als jüngste Entwicklung hat die Bundesregierung am 9. Juli 2014 nun ein Gesetzespaket veröffentlicht, das unter anderem die Richtlinie 2014/59/EU (Bankensanierungs- und abwicklungsrichtlinie, Bank Resolution and Recovery Directive – BRRD) umsetzen und in weiten Teilen zum 1. Januar 2015 in Kraft treten soll.

Die Auswirkungen werden hier im Überblick dargestellt.

 

Categories: Insolvency News

France: corporate restructuring and insolvency procedures

Mon, 08/04/2014 - 09:30

A factsheet for corporate restructuring and insolvency procedures in France.

Categories: Insolvency News

Russian Law Pledge, Escrow and Cash Management Accounts – New Special Accounts now available

Fri, 07/18/2014 - 03:47

According to the recent multiple amendments to the Russian Civil Code (the Amendments), certain new special bank accounts have been introduced in Russia.[1] Among others, they include a nominal account, an escrow account and a pledge account (together, the Special Bank Accounts). On 1 July 2014, the Central Bank of Russia issued its regulation (the CBR Regulation) on the opening and closing of Special Bank Accounts.[2] The majority of other operational issues were left to the discretion and internal rules of Russian banks.


 

Categories: Insolvency News

New York District Court Prohibits Trustee’s Use of Bankruptcy Code Avoiding Powers with respect to Certain Foreign Transactions

Wed, 07/09/2014 - 17:05

New York District Court Prohibits Trustee’s Use of Bankruptcy Code Avoiding Powers with respect to Certain Foreign Transactions

Categories: Insolvency News

Second Circuit Expected to Clarify Scope of Limitation On Trustee’s Avoiding Powers in Bankruptcy

Thu, 06/19/2014 - 11:24

Two appeals pending before the United States Court of Appeals for the Second Circuit could soon clarify the scope of the statutory limitation on the avoiding powers of the debtor or trustee in bankruptcy under section 546 of the U.S. Bankruptcy Code where individual creditors pursue state-law avoidance actions against recipients of pre-bankruptcy transfers of property of the debtor, including transfers made in connection with swap agreements and securities contracts.

U.S. Supreme Court clarifies jurisdictional limits on bankruptcy courts, after Stern v. Marshall (but key questions remain . . . )

Tue, 06/10/2014 - 18:58

This bulletin discusses the U.S. Supreme Court’s June 9, 2014, decision in Executive Benefits Insurance Agency v. Arkison.