Should the scope of the EC Insolvency Regulation be extended to cover debtor-in-possession proceedings?

A review of the EC Regulation on Insolvency Proceedings 2000 (the “EIR”) is set to take place in 2012, 10 years after the EIR initially came into force. One of the proposed changes is to broaden the EIR’s scope to include insolvency proceedings where an insolvent debtor remains in possession (“DIP Proceedings”). At present, the EIR only applies to insolvency proceedings which involve “partial or total divestment of the debtor and the appointment of a liquidator”; DIP Proceedings are therefore excluded.
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Cleary Gottlieb is pleased to announce that Ling Huang has joined the firm as a partner in its Beijing office.

Ling Huang has joined the firm from the Beijing office of Shearman & Sterling LLP, where she was a partner focusing on cross-border M&A, private equity, and foreign direct investment transactions.

Ms. Huang advises a wide range of Chinese and global clients on M&A and private equity transactions involving both outbound transactions by Chinese companies as well as inbound investments and other transactions in China by private equity firms and multinational corporations.
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NDA Use Restrictions — Use With Caution

Much attention deservedly has been focused on the recent Delaware Chancery and Supreme Court decisions in the high-profile Vulcan/Martin Marietta case where the courts found that a “use restriction” in a confidentiality agreement (i.e., a provision that limits the recipient’s “use” of the disclosing party’s confidential information to a specified purpose) could in certain circumstances pr
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