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Finland: Fine-tuning a stable insolvency system - by Prof. Tuula Linna and Sami Uoti

In Finland, insolvency proceedings and enforcement procedures are currently stable. On the whole, the Finnish insolvency system is quite modern, although minor streamlining is needed. Insolvency legislation consists of three pieces of law: the Bankruptcy Act (120/2004), the Restructuring of Enterprises Act (47/1993), and the Act on the Adjustment of the Debts of a Private Individual (57/1993). Additionally, according to the Enforcement Code (705/2007), attachment and other civil enforcements are to be administered by enforcement officers (that is, bailiffs and their staff).
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Draft Act on the Remuneration Policy of Financial Undertakings

Op 26 november 2013 is de consultatieversie van de Wet beloningsbeleid financiële ondernemingen (het "Wetsvoorstel") gepubliceerd. Hierin wordt onder andere een 20% cap voor variabele beloningen geïntroduceerd. H et Wetsvoorstel strekt tot wijziging van de Wet op het financieel toezicht ("Wft").
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Management and decision-making procedures in a bankruptcy estate

As a general rule, the right to exercise authority in a bankruptcy estate belongs to the creditors. It is the duty of an administrator of a bankruptcy estate to arrange, among other things, the management of the bankruptcy estate and to oversee the management and maintenance of the assets of the bankruptcy estate.
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