Central banks around the world are trying to cheapen their currencies in order to boost their economies. This is making the euro more expensive and endangering the recovery of Europe's stricken economies. But the European Central Bank is resisting growing calls to join in the currency war, Spiegel Online reported. Billionaire investor George Soros and French President François Hollande, a Socialist, are in agreement: The world is on the verge of a currency war, and it threatens to destroy Europe.

A chorizo is a spicy Spanish sausage, best accompanied by a glass of Rioja, though often sliced and served in a doughy bocadillo, or sandwich. Chorizo is also slang for a swindler or cheat. At protests against Mariano Rajoy’s government demonstrators have taken to waving loaves aloft and shouting: “There isn’t enough bread for so many chorizos!” The Economist reported. Now the allegations have touched Mr Rajoy directly. “Never, ever have I received or handed out black money,” he insisted on January 21st.

NOTE: Insolvency Laws of Romania and Ukraine: Why Romania's Insolvency Laws Work Better for Foreign Direct Investment (ABI Law Review, Winter 2012) - Jon Ruiss

EUROPEAN UPDATE: A Change of Direction for English Cross-Border Insolvency Law (citation: Frank Tschentscher, A Change of Direction for English Cross-Border Insolvency Law, XXXII ABI Journal 1, 38-39, February 2013) - Frank Tschentscher

Evert Verwey reports from this year’s Annual Congress, held in Brussels, 11-14 October

This article considers the position of a company which is planning to take a licence of Intellectual Property (IP) critical to the development of a drug. What will happen to that licence if the licensor becomes insolvent? Can the licensee mitigate the risk through structuring and/or drafting of the licence? The licensee will need to be able to continue using the IP and monetary compensation for loss of that ability is unlikely to be an adequate remedy.

In the previous edition of eurofenix it was announced that INSOL Europe had assigned a two year research project to Leiden University aimed at establishing a well-founded best practices framework for European Insolvency Office Holders...

REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE on the application of Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings The European Commission has published its report on the application of the EC Regulation on Insolvency Proceedings, together with proposals for amendments to the Regulation.

One very controversial judgement was the subject of a hot public debate and almost an international scandal at the beginning of 2012 in Latvia.

EUROPEAN UPDATE: Will German Law and Reform Bring an End to Administrators’ “License to Kill” Licensees? (citation: Adam Gallagher, Riaz K. Janjuah and Dr. Marvin Knapp, Will German Law and Reform Bring an End to Administrators’ “License to Kill” Licensees?, XXXI ABI Journal 11, 28, 90, 92, December/January 2013 - Adam Gallagher, Riaz K. Janjuah and Dr. Marvin Knapp