Asset tracing and recovery in insolvency contexts: an UNCITRAL approach? by Hector Sbert

On 6 December 2019, the UNCITRAL held, in its Vienna Headquarters, a Colloquium on Asset Tracing and Recovery, under the auspices of its Working Group V (Insolvency Law). More than one hundred professionals dealing with asset tracing and recovery were in attendance (See Paul Omar’s report of the wider meeting in our News section of this edition).

The purpose of the Colloquium was to kick off a process of debate and analysis among practitioners and academics of different jurisdictions.

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The impact of COVID-19 on (pre-)insolvency by Emmanuelle Inacio

At the time of writing, our personal and professional life has totally changed since the COVID-19 emerged. INSOL Europe has just announced that many of our events are postponed.

Countries, one after another, imposed restrictions on citizens’ free movement and banned travels. Offices, courts, schools, and universities are being closed everywhere… Lockdowns spread across the world, including the US and India. In order to fight this highly contagious respiratory illness, the lockdowns are being extended and reinforced…

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Cyber risks, corporate responsibilities and international challenges by Ludovic Van Egroo

Cyber risk is increasingly present, with impacts that are not clearly identified, but very real and with potentially heavy consequences for a company’s activities.

In the current context, interstate tensions in the cyber space are ever growing and the number of collateral victims – human and industrial – is increasing. As an illustration, the NotPetya malware, which originated from Ukraine and spread around the world, transited via widely used accounting software in Ukraine.

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Technical update by Myriam Mailly

Updated Insolvency Laws have been published in 2019 for Switzerland. We are grateful to Prof. Dr. Rodrigo Rodriguez, Rechtsanwalt Wissenschaftlicher Berater (Eidgenössisches Justiz und Polizeidepartement EJPD, Bundesamt für Justiz BJ, Direktionsbereich Privatrecht) for sharing this information. Twelve countries remain covered so far: Belgium, Bulgaria, Finland, France, Germany, Greece, Lithuania, Luxembourg, Spain, Sweden, Switzerland and The Netherlands.

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Demystifying offshore: Obtaining information by Stephen Alexander, Nicholas Fox, Justine Lau and Abel Lyall

In our last article, building upon presentations by the Anti-Fraud Forum, the authors discussed steps European-based insolvency officeholders could take in order to obtain recognition and assistance from the British Virgin Islands, Cayman Islands, Guernsey or Jersey (which, for convenience, we called the four Crown Dependencies and Overseas Territories (CDOTs).

In this article, we build upon that foundation by examining some of the more common mechanisms for obtaining information in the CDOTs.

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When environment meets insolvency by Emmanuelle Inacio

Environmental protection and sustainable development are nowadays a global concern to such an extent that the question of the link between environment and insolvency must be raised.

Indeed, a company facing a pre-insolvency or an insolvency procedure may cause damages to the environment or risk causing damages to the environment in two scenarios.

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European Update… Continued! by Myriam Mailly

The EU adopted on 20 June 2019 the Directive (EU) 2019/1023 of the European Parliament and of the Council on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (hereafter the ‘Directive’).

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An international multi-disciplinary approach to combatting fraud in insolvency by Carmel King & Willem van Nielen

An international multidisciplinary approach to combatting fraud in insolvency is a practical necessity. Where cases are multi-jurisdictional, it is essential to use innovative approaches with input across several disciplines. The INSOL Europe Anti-Fraud Forum (“AFF”) was established with this as one of its aims. This working group currently has 69 members spanning 22 jurisdictions, all of whom specialise in using insolvency processes to assist with the tracing and recovery of assets.

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