The EU has implemented a program of sanctions and restrictive measures designed to target Russia and persons responsible for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. Whilst these measures had previously been limited to asset freezes against a number of named individuals and entities, Regulation 833/2014 of 31 July 2014 has broadened the scope of these measures to impact the wider Russian economy, including its energy industry and financial sector. Read more

The U.S. Government has significantly expanded restrictions on dealings by U.S. entities with Russian entities — particularly major Russian banks and energy sector companies. These actions relate to the ongoing conflict in Ukraine and the efforts by the United States, the European Union (“EU”) and other governments to try to persuade Russia to end its military engagement on behalf of the separatist movement in Ukraine. The EU also announced an expansion of its sanctions against Russia.

Bernard Santen, Jan Adriaanse and Iris Wuisman are leading a major project for INSOL Europe to design a set of Principles and Best Practices for Insolvency Office Holders (IOHs) in Europe. This article summarizes some of the findings thus far, followed by the second public draft of the Principles. In December 20121 the European Commission (EC) submitted a report on the application of the European Insolvency Regulation (EIR) to the European Parliament (EP), the Council and the Economic and Social Committee.

The EU has implemented a program of sanctions and restrictive measures designed to target Russia and persons responsible for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. Whilst these measures had previously been limited to asset freezes against a number of named individuals and entities, Regulation 833/2014 of 31 July 2014 (the “Regulation”) has broadened the scope of these measures to impact the wider Russian economy, including its energy industry and financial sector.

The U.S. Government has significantly expanded restrictions on dealings by U.S. entities with Russian entities — particularly major Russian banks and energy sector companies. These actions relate to the ongoing conflict in Ukraine and the efforts by the United States, the European Union (“EU”) and other governments to try to persuade Russia to end its military engagement on behalf of the separatist movement in Ukraine. The EU also announced an expansion of its sanctions against Russia.

On June 12, 2014, the market abuse regulation1 (“MAR”) and the directive on criminal sanctions for market abuse2 (“CSMAD”), together known as MAD II, were published in the Official Journal.

Simona Maria Milos writes on the financing of pre-insolvency and the codification of the insolvency law in Romania. In Romania, the Bill on insolvency code is ongoing to be legally approved – a normative act consisting of nearly all legal provisions in national and international insolvency and pre-insolvency matters.

When first appearing on the market, Bitcoins were valued at the rather minimal amount of $1 per Bitcoin. After soaring to the height of $1000 in November 2013, they have since settled at current value of $630 a piece. The proliferation of Bitcoin users goes hand in hand with the emergence of operators providing Bitcoin-related services, enabling, for instance, the exchange of Bitcoins for conventional, official currencies.

Last Friday the proposal for the Act on the Remuneration Policy of Financial Undertakings was submitted. Compared to the consultation version that was previously published, only a limited number of amendments have been made. Click here to read more

On 16 June 2014, the British Government published the findings and recommendations of an independent review into pre-pack administrations (pre-packs), carried out by Teresa Graham CBE. The review was commissioned by Vince Cable, the Secretary of State for Business, Innovation and Skills, to address continued disquiet about the merits of pre-packs, particularly among unsecured creditor groups. Click here to read more