On March 23, 2016, the European Commission launched a consultation seeking views on key insolvency principles and standards which could ensure that national insolvency frameworks work in a cross-border context. The consultation is part of the Commission’s Capital Markets Union Action Plan which aims to remove barriers to the free flow of capital. Responses will be used to identify which aspects could be included in a legislative initiative or other related actions.
The Great Brexit Debate dentons.com Introduction The UK is now counting down to the 23 June 2016 referendum on whether to stay in or leave the European Union. Dentons summarises the background to this momentous choice, and takes a deeper look at some of the legal issues involved in some key areas that would be impacted by a vote to leave the EU.
The Irish High Court recently, for the first time, recognised and gave effect to a Swiss law insolvency and restructuring process that had been commenced in Switzerland in respect of a Swiss company.
From 1 January 2016, European Economic Area (EEA) member states are required to implement Article 55 of the European Union Bank Recovery and Resolution Directive (2014/59) (BRRD).
In times of financial turbulence, politicians, regulators and the media make the case for tighter controls of the markets. However, with new regulatory powers coming in and the resulting extra layer of complexity that their application brings, investors have their reasons not to put their trust in regulators. As seen with recent developments in Portugal and Italy, a number of competing motivations surround the rescue of financial institutions. The old maxim – “Put your trust in God, but keep your powder dry” - may be applied to describe investor sentiment in an envir
The UK’s EU Referendum on membership is looming on the horizon – What are the legal implications of a so-called “Brexit” for restructuring and insolvency professionals?
The EU Referendum Act 2015 obtained Royal Assent on 17 December 2015 and provides for the following question to be put forward for voting in a referendum in the UK until the end of 2017: “Should the United Kingdom remain a member of the EU or leave the EU?”
Before I hazard any kind of answer to the above, let me first declare my interest in the #Brexit / #Bremain debate, from the perspective of an insolvency lawyer.
In case you have just returned from Outer Space- the UK Government has announced that it is holding a referendum on 23 June 2016 on the question:
“Should the United Kingdom remain a member of the EU or leave the EU?”
In the meantime, whilst the UK decides whether to Brexit or not, the EU Commission is taking a “business as usual” stance.
Regulation No. 2015/848 is an update and an enhancement of European Union rules on cross-border insolvencyprocedures, with respect to Regulation No. 1346/2000 currently applicable. We start here a series of newsletters wherewe will address the new rules which will come into effect starting from 2017.
Introduction:
The Court of Justice of the European Union has ruled that a provision of German law falls within the scope of Article 4 of the EC Regulation on Insolvency Proceedings, thereby paving the way for a German court to require a director of an English incorporated company to make payments under German law where the company has been placed into insolvency proceedings in Germany.