In brief
Snapshot on the status of implementation of the EU Restructuring Directive in selected Member States and the new English scheme
Introduction
In brief
COVID-19
Government Intervention Schemes
Current as of 21 May 2021
Government Intervention Schemes
COVID-19 Government Intervention Schemes 2
Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. This guide provides a summary of key government interventions around the globe in relation to: EU State Aid Approvals (for EMEA region), foreign investment restrictions, debt, equity and taxation.
In brief
This article discusses considerations for credit funds that face a restructuring situation in the post-COVID-19 world — whether one largely caused by the challenges posed by the pandemic or one simply accelerated by such challenges — and how workouts of these investments present their own challenges.
The COVID-19 pandemic continues to affect the way financial institutions address organizational and legal challenges. FIs are in a rush to address the impact – both current and emerging.
To date, EU-wide insolvency legislation has focused on resolving conflicts of laws issues between Member States. Now that the Preventive Restructuring Framework Directive (the "Directive")1 has successfully navigated its way through the Council and European Parliament (albeit with some significant amendments to the original text), all of that is set to change.
"Whenever there is change, and whenever there is uncertainty, there is opportunity."Mark Cuban, American businessman and investor
In the current global market, very few things are clear other than that volatility and change are ever-present.
This week’s TGIF examines a recent decision of the NSW Supreme Court which considered whether funds held in certain bank accounts of a failed Ponzi scheme should be returned to investors or paid to creditors of the companies.
What happened?
Since freezing orders were obtained by ASIC in 2017, details surrounding the infamous Courtenay House ‘Ponzi’ scheme operated from a small office at Westfield in Bondi have slowly emerged.
The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 (Regulations) to amend the structure of UK annual reports have been published and laid before Parliament.