Fulltext Search
A boost for UK financial services

The U.K. Financial Services and Markets Act 2023

European Union, United Kingdom, Banking, Capital Markets, Compliance Management, Insolvency & Restructuring, Public, Trade & Customs, A&O Shearman, Corporate governance, Fintech, Due diligence, Carbon neutrality, Cryptocurrency, Anti-money laundering, Financial Conduct Authority (UK), European Commission, HM Treasury (UK), House of Lords, Bank of England, European Securities and Markets Authority, Prudential Regulation Authority (UK), MiFID, Solvency II Directive (2009/138/EU), Financial Services and Markets Act 2000 (UK), Banking Act 2009 (UK), UK Supreme Court
UK proposals for cryptoasset regulation

The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities being brought within the regulatory perimeter for financial services in the U.K.

European Union, United Kingdom, Banking, Capital Markets, Insolvency & Restructuring, IT & Data Protection, White Collar Crime, A&O Shearman, Blockchain, Crowdfunding, Bitcoin, Due diligence, Cryptocurrency, Financial Services Compensation Scheme, Distributed ledger, ESG, Cybersecurity, Anti-money laundering, Central counterparties, Decentralised finance, Financial Conduct Authority (UK), House of Lords, FTX, MiFID, Financial Services and Markets Act 2000 (UK), Markets in Cryptoassets Regulation (EU)
Are Buyers of Assets Acquired from Debtors in Section 363 Bankruptcy Sales Protected from Debtors’ Product Liability Claims?

Second Circuit Court of Appeals Decision in GM Cases Casts a Shadow Over Whether Section 363 Sale Orders Insulate Buyers from Debtors’ Product Liability Claims.

USA, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Bankruptcy, Debtor, Liability (financial accounting), General Motors, Title 11 of the US Code
Delaware Bankruptcy Court Refuses to Dismiss Chapter 11 Case Despite Existence of Secured Lender’s “Golden Share” in Debtor’s Delaware LLC Agreement: Could Bankruptcy-Remote Structures Be at Risk?

I. Introduction

USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Bankruptcy, Fiduciary, Limited liability company, United States bankruptcy court
Advice for directors and officers of distressed corporations: fiduciary duties

The most recent decisions (by judges in Delaware and several other relevant jurisdictions) hold that fiduciary duties are owed to the corporation that the director and officer is serving and do not change whether the corporation is solvent, approaching insolvency (described as the “zone of insolvency”), or insolvent.

USA, Delaware, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Fiduciary