Introduction
What happens when monies are loaned for a specific purpose but that purpose fails? Should those monies fall within the general assets of the recipient upon bankruptcy or insolvency?
Hong Kong, Insolvency & Restructuring, Litigation, Charles Russell Speechlys, Barclays, HM Treasury (UK)
On July 30, 2010 the Italian Parliament passed Law 122/20101 which, among others, improved the restructuring proceedings governed by the Italian Bankruptcy Law2 (“IBL”).
The improvements operate on two fronts of restructuring deals which had proven to be still unclear (and thus risky) despite the recent reform:
Italy, Insolvency & Restructuring, Orrick, Herrington & Sutcliffe LLP, Bankruptcy, Shareholder, Debtor, Unsecured debt, Mortgage loan, Negligence, Capital punishment, Bridge loan, United States bankruptcy court