In this latest issue of Global Insight, our global Restructuring team reports and comments on breaking legal developments in restructuring law across borders and in jurisdictions around the world. http://viewer.zmags.com/publication/a8d990fd#/a8d990fd/1

The French Supreme Court asserted in its decision rendered on 27 November 2012, case#11- 25.628, (first case) that in compliance with Articles R. 814-83 to R. 814-85 of the French Commercial Code, a liquidator who is a partner in a liquidators’ firm cannot practice individually and consequently accomplishes necessarily his duties on behalf of the firm.

Between now and 2020 we expect to see the duty of care rules for banks becoming more stringent, more detailed and more protective.

The Court of Appeal’s judgment in The Trustees of the Olympic Airlines SA Pension & Life Insurance Scheme v Olympic Airlines SA [2013] EWCA Civ 643 has clarified what is required to fall within the definition of an ‘establishment’ for the purposes of the EC Insolvency Regulation (the Insolvency Regulation).

Robert van Moorsel and Youri Tonino report on recent legislation affecting rights on heavy machinery.

Le 11 juin 2013, la Chambre des députés luxembourgeoise a voté une loi instaurant un droit de revendication en faveur de la personne qui a confié des biens meubles "incorporels" non fongibles à une entreprise qui est tombée en faillite (le dossier parlementaire peut être téléchargé ici).

Patrick Elliot discusses a recent case with a number of implications for cross-border insolvencies

In two rulings on 2 October 2012, the French Supreme Court (Cour decassation) made clear that, outside the scope of the European Insolvency regulation and pursuant to French international Law, instead of using French Insolvency law to abide to actions of avoidance in foreign insolvency proceedings, these must be subjected to the law applicable in those Insolvency proceedings.

TheCrime & Courts Act 2013 (“the Act”) introduces into UK law the concept of deferred prosecution agreements (“DPAs”) for commercial organisations. DPAs are a law enforcement tool more commonly associated with US regulators such as the Department ofJustice or the Securities & ExchangeCommission.

The word “auction” is derived from the Latinaugeō which means “I increase” or “I augment”. For most of history, auctions have been a relatively uncommon way to negotiate the exchange of goods and commodities. In practice, both bargaining and sale by set-price have been significantly more common.