Since 2005, when the Bankruptcy Law was approved, the Brazilian market has been experiencing a continuous evolution of the operational aspects resulting from the restructuring or recovery processes of companies.

The crisis that has affected the Brazilian economy in recent years has considerably increased the number of companies that have had to restructure their debt, either by extending maturities, adding new collateral and sharing them or by means of a recovery plan.

The key to understanding how the transfer of immovable property and service provision works for specialised companies in Russia.

The maintenance activities of Russian specialised companies (SPVs) are not only limited to charter activities. This article looks at the transfer of immovable property to a SPV balance and the transfer of service provision to standby service agents in Russia.

The role of a bondholders’ representative (BR) improves the protection of bondholders’ rights and provides additional oversight of the execution of the issuer’s bond obligations. Let’s look at some of the practical aspects of BR activities.

Non-default period of a deal

The main BR responsibility during a regular deal period (when there is no default or signs of it) is to oversee the issuer’s activities and inform third parties. The law offers no list of events that a BR should control.

Luxembourg’s modernisation of the Companies Act of 1915 was formally adopted on 13 July 2016, and includes changes to company liquidation, incorporation and capital increase procedures.

Three-step liquidation