Magnus Peterson, the founder of the US $600 million Weavering Capital hedge fund ("the Weavering matter"), was recently sentenced to a total of 13 years’ imprisonment for a number of fraud-related offences prosecuted by the SFO. The case follows hard on the heels of an individual convicted in the SFO’s Sustainable Agro-Energy case (“the SAE matter”) receiving a total of 13 years’ imprisonment for fraud and United Kingdom Bribery Act 2010 ("UKBA") offences in December last year.

In today’s world where disruptive forces are more and more prevalent and the market we operate in can change overnight, companies can either adapt, step aside, or instead lead the disruption themselves. Unlocking and harnessing creative processes can build resilience to protect and create sustainable value. But that’s tough to do.

On 1 January 2015, the Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (SI 2014/3486) (the "Order") came into force. The Order implements the requirements contained in Article 108 of the Bank Recovery and Resolution Directive (2014/59/EU) ("BRRD")1 to ensure that both deposits that are eligible for compensation under the UK Financial Services Compensation Scheme ("FSCS"), and other deposits that would be eligible deposits but for the fact that they are made in branches of UK banks outside the EEA, are treated as preferential debts.

Russia: On raising professional qualification requirements for insolvency practitioners. Russian insolvency legislation sets out certain requirements an insolvency practitioner has to satisfy before his appointment in an insolvency case can be approved by the court.

by Evert Verwey In 2013 the Dutch legislature announced that an amendment of the Dutch Bankruptcy Act was necessary and that the “continuity of companies” was a priority. It was announced that three new acts would be drafted: • Act on the Continuity of Companies I: Pre-pack proceedings (See: Eurofenix, Spring 2014, p.

by Paul Omar Prague, October 2004. A small gathering of academics meets in a room off the conference hall to explore the formation of an Academic Wing of INSOL Europe. With Professor Sebastian Kortmann (now Rector Magnificus (or Vice-Chancellor) of the Radboud University Nijmegen) leading it, the group begins life!

October/November 2014 At KPMG, we are dedicated to providing our clients with insights on today’s critical business issues. To help keep you up to date, we’re pleased to share with you recent studies, white papers, articles, and multimedia content published by KPMG.

Disruption can be a catalyst for growth, even in a challenging economic environment.

This and a related case, Saad Investments Company Limited v PricewaterhouseCoopers, were both appeals of November 2013 decisions of the Bermudian Court of Appeal and impact on the ability and scope of the court to assist foreign liquidators. This has been a topic of heated debate for lawyers and cross border insolvency professionals in recent years since the concept of "modified universalism" was put forward by Lord Hoffman in Cambridge Gas.

In Crestsign Limited v Natwest and RBS [2014] EWHC 3043 (Ch), Natwest and RBS (the ‘Banks’) have successfully defended a claim for mis-selling of derivatives despite being found by the judge to have given ‘negligent’ advice to the claimant. Read more