Germany

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Where Will Banks Go After Brexit? Frankfurt Takes Early Lead

Germany’s financial hub is taking an early lead in attracting banking businesses in anticipation of Britain exiting the European Union, The Wall Street Journal reported. Its main asset: stability. Banks from Japan’s Nomura Holdings Inc. and Sumitomo ...

Daily Headline - global.abi.org - 07/19/2017 - 23:06 - 0 comments

Introductory Act to the European Insolvency Regulation (EU) 2015/848

Together with the start of the application of the new European Insolvency Regulation (EU) 2015/848 on 26th of June 2017 the Regulation (EU) 2015/848 establishing the forms referred to in Regulation (EU) 2015/848 of the European Parliament and of the Coun ...

Resource Article - twallace@abiwor... - 06/30/2017 - 11:20 - 0 comments - 0 attachments

EU Insolvency Regulation – Group Insolvency Law

On 26 June 2017, the EU Insolvency Regulation (Recast) 848/2015 (“EIR”) becomes applicable for insolvency proceedings and similar proceedings in the EU member states (Art. 84). As of that date, the new rules in Chapter V of the EIR for insolvent company ...

Resource Article - twallace@abiwor... - 06/30/2017 - 11:03 - 0 comments - 0 attachments

German Minister Says Air Berlin Situation is “Precarious"

Air Berlin is in a "precarious" situation, German Economics Minister Brigitte Zypries said on Tuesday, as the loss-making airline seeks loan guarantees from regional states. Air Berlin, in which Gulf carrier Etihad Airways has an almost 30 perc ...

Daily Headline - global.abi.org - 06/13/2017 - 22:02 - 0 comments

German Government Decision On Air Berlin Support To Take Weeks, Months

The German Economy Ministry on Monday said it would take time for the federal government and two state governments to evaluate Air Berlin's request for state loan guarantees, Reuters reported. "The process is underway. Now the formal paperwork ...

Daily Headline - global.abi.org - 06/12/2017 - 22:30 - 0 comments

Germany Says Backing Air Berlin Depends On Sustainable Business Model

The German government on Friday said it was evaluating Air Berlin's request for state loan guarantees with two regional governments, noting any support would be contingent upon a sustainable business model for the struggling airline, Reuters reporte ...

Daily Headline - global.abi.org - 06/11/2017 - 22:45 - 0 comments

Air Berlin Asks Berlin, NRW to Consider State Loan Guarantees

Ailing German airline Air Berlin said on Thursday it has asked the German states of North-Rhine Westphalia (NRW) and Berlin to consider possible loan guarantees amid signs of waning support from Etihad Airways, its biggest shareholder. Abu Dhabi-owned Et ...

Daily Headline - global.abi.org - 06/08/2017 - 21:09 - 0 comments

Shipping Group Rickmers to File for Insolvency as Revamp Fails

German shipping group Rickmers said it would file for insolvency after bondholder HSH Nordbank rejected its restructuring plan a day ahead of a last-ditch bondholders' meeting, Reuters reported. Rickmers had proposed a revamp plan under which the eq ...

Daily Headline - global.abi.org - 05/31/2017 - 22:12 - 0 comments

Injunction Request Aims to Stop German Role in ECB’s Bond Buying

A Berlin-based law professor has filed a cease-and-desist request aimed at quickly ending Germany’s involvement in bond purchases by the European Central Bank, a surprise legal move that underlines mounting German anger over the ECB’s easy-money policies ...

Daily Headline - global.abi.org - 05/30/2017 - 22:09 - 0 comments

German Sun King's SolarWorld To File For Insolvency

Germany's SolarWorld, once Europe's biggest solar power equipment group, said on Wednesday it would file for insolvency, overwhelmed by Chinese rivals who had long been a thorn in the side of founder and CEO Frank Asbeck, once known as "th ...

Daily Headline - global.abi.org - 05/10/2017 - 20:04 - 0 comments

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