Overview The decision of the Court of Justice of the European Union in Case C-536/13 Gazprom OAO v Lithuania handed down on 13 May 2015 (“Gazprom”) confirmed that anti-suit injunctions issued by arbitral tribunals do not fall foul of the Brussels I Regulation (EC Regulation No.

On 3 May 2015, the Appellate Division of the Qatar Financial Centre Court (President Lord Phillips of Worth Matravers, Justice Lord Scott of Foscote and Justice Dohmann QC) dismissed two appeals brought by an insurance and reinsurance broker, Chedid & Associates Qatar LLC (“Chedid”), against two judgments of the First Instance Circuit relating to a former employee, Said Bou Ayash. Chedid alleged that Mr. Ayash had acted in breach of restrictive covenants contained in his contract of employment by working for a competitor shortly after his departure from the firm.

David Ingram and Carmel King follow up their previous article by considering the tools available to us when interrogating electronic evidence In the Summer 2014 edition of Eurofenix, we considered the importance of the golden hour, that is how the first actions taken by a liquidator can dictate the outcome of the case, particularly where fraud is suspected, and the risk of asset dissipation and missing company records is high.

From the rushed partial enactment of the EU directive to the untested application of a “resolution action”, Nuno Líbano Monteiro discusses the Good Bank/Bad Bank dichotomy as a supposed safeguard for the legitimate interests of customers.

Romania: Insolvencies in 2014 In June 2014, the Romanian Parliament adopted a new law regarding the preventive and insolvency proceedings, namely law 85/2014. This new regulation aims to enable a collective procedure through which the liabilities of a debtor may be covered, while, at the same time, offering the debtor a chance for restructuring its business.

After two years of fierce debate a major package of amendments is going to enter into force on 1 March 2015 in Latvia. The most controversial are those relating to personal bankruptcy. Firstly, after the sale of the debtor’s dwelling that served as collateral, the remainder of the debtor’s obligations towards the secured creditor will be discharged automatically, without applying a discharge procedure.

In recent months, the US has seen a staggering increase in the number of retailers, both large and small, filing for bankruptcy. Among others, Dots, Alco Stores, Radio Shack, Deb Shops, Wet Seal, and Delia’s have each filed for bankruptcy protection in the past six months alone. There can be little doubt that these retailers and countless others, face tremendous challenges given consumers’ shift in preference to online shopping with expedited shipping over visiting a bricks-and-mortar store.

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In The High Commissioner for Pakistan in the United Kingdom v National Westminer Bank & ors [2015] EWHC 55 (Ch) the English High Court (Chancery Division) has confirmed that where a state commences proceedings it thereby waives its immunity as a sovereign state from the Court’s jurisdiction, and that waiver is irrevocable and extends to claims which it could have anticipated would be brought by non-parties which would apply to join. A state cannot therefore reinstate its immunity simply by discontinuing the proceedings.

Two years on from the establishment of the Abu Dhabi Global Market ("ADGM"), Abu Dhabi has confirmed plans to formally launch its eagerly awaited financial free zone later this year. The ADGM will be the first free zone in Abu Dhabi to construct its own legal and regulatory framework. Its initial focus will be on private banking, wealth management and asset management as Abu Dhabi looks to expand its financial services capability and diversify its oil-based economy by developing as an international financial centre.