Portugal: recent amendments to the Portuguese Insolvency Law: The forces that determine the success of restructuring tools by Prof. Catarina Serra

Before spring even blossomed, the review of the Portuguese Insolvency Law was completed with the issuance of Law No. 7/2018 and Law No 8/2018 of 2 March 2018. The review began in 2017 with the Insolvency Act (hereafter IA) being amended by Law Decree No. 79/2017, of 30 June. The amendments may well be numerous and flashy, but do they embody a real shift of the Portuguese Insolvency Law? Let us have a look.

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Recognition and enforcement of insolvency-related judgments by Florian Bruder

UNCITRAL’s Working Group V(Insolvency Law), at its 53rd session in New York, has just completed work on the model law on recognition and enforcement of insolvency-related judgments (‘JudgmentsML’). The Judgments ML, together with a draft guide to enactment, will be submitted to the UNCITRAL Commission for finalisation and adoption within the year.If adopted, Member States will be invited to incorporate the Judgments ML into their national laws in order to harmonise cross-border enforcement and recognition of insolvency-related judgments.

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Crypto-currencies in bankruptcy: Specifics of Belarusian regulation By Ivan Simanovsky

The much talked-of Decree No.8 “On the Development of Digital Economy” has been in effect since March 28 of this year (further referred to as the “Decree”). Among other things, it is aimed at the creation of conditions for implementing the Blockchain technology in the Belarusian economy and it secures the terms of Blockchain itself in the legal environment of Belarus (smart contract, token, owner and offering of tokens), and it introduces the definitions of crypto-currency, its operator and the operator of its exchange, the e-wallet, mining etc.

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A second chance for consumers in Cyprus: reorganisations go virtual By Alexandra Kastrinou

In the last few decades the promotion of a corporate rescue culture has been a key objective for many EU jurisdictions, but particularly since the 2008 financial crisis, corporate rescue has been at the top of the agenda. Although the significance of corporate rescue is not to be underestimated, it can be argued that consumer bankruptcy carries no less significance. The adverse impact of consumer bankruptcy has been intensely experienced at very large scales in countries like Greece and Cyprus.

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GDPR: The moment of truth? By Emmanuelle Inacio

The Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) applies since 25 May 20181.

In the digital age, the General Data Protection Regulation (GDPR) was designed to harmonise data privacy laws across Europe, to protect and empower all EU citizens’ data privacy and to reshape the way organisations across the European Union (EU) approach data privacy.

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New cases applying the Regulation (EU) 2015 848 to insolvency proceedings - by Myriam Mailly

Like its predecessor, the European Insolvency Regulation (Recast) (hereafter ‘EIR (recast)’) sets out rules to (among others) establish which court has jurisdiction to open a crossborder insolvency case. In terms of ‘jurisdiction’, main insolvency proceedings still take place before the courts of the European Member States where the debtors’ centre of main interests (‘COMI’) are situated.

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Find your case: the INSOL Europe European Insolvency Regulation Case Register - by Prof. Reinhard BORK

First launched in 2011 at the INSOL Europe Annual Conference, the INSOL Europe European Insolvency Regulation Case Register is a database that summarises cases from first instance and appeal courts of Member States of the European Union, as well as the CJEU, that deal with a significant point relating to the European Insolvency Regulation (both Regulation EC 1346/2000 and Regulation EU 2015/848). It is an internet-based system within which information on court decisions and judgments relating to the European Insolvency Regulation (‘EIR’) is collected and disseminated.

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Managing credit risk in the supply chain - by David CONAWAY

Companies expend substantial resources managing the credit risk of customers, to protect the value of their sales. Many companies, however, do not always apply credit risk analysis to their supply chain, focusing instead on procurement at the lowest cost and compliance with a myriad of regulatory issues. However, credit risk in the supply chain may actually pose a greater potential risk of loss. If a supplier fails to deliver the product on time, the manufacturing process can be interrupted or halted, potentially idling plants at a significant daily cost to the company.
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Cyber Security: A threat for all businesses - by Christophe SZWEDO and Laurent Le PAJOLEC

Nowadays, a company, whatever the business sector, relies on an information system which must be protected with specific means. With a rising number of cyber-attacks, cyber-security is a hot topic and companies are trying to secure their information systems. Though, the sole fact of putting a firewall or using a VPN connection to access your information system is not enough, besides, those must be installed and configured properly by cybersecurity experts. Implemented means against cyber-attacks and cyber-criminals should neither be overlooked, nor underestimated.
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Digital assets in insolvency and restructurin - by Emmanuelle INACIO

Cryptocurrencies such as Bitcoin, Ethereum or Ripple, use blockchain to transfer economic value. Bitcoin is a technology that was first proposed in 2008 in a whitepaper written by Satoshi Nakamoto. The term Bitcoin refers both to a private currency and the network of computers that runs the currency. However, governments do not issue Bitcoins, but instead a decentralised network of computers does so. There are more than nine hundred cryptocurrencies today and the entire cryptocurrency market will reach a total value of $1 trillion this year.
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