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UK Government consultation on a new insolvency regime for UK-authorised payment institutions and electronic money institutions

On 3 December 2020, the UK Government (HM Treasury) issued a consultation paper (the Consultation) setting out a proposal to implement a new “special administration regime” (the SAR) which it is proposed would apply to any insolvency of an authorised payment institution (a PI) or electronic money institution (an EMI).

United Kingdom, Company & Commercial, Insolvency & Restructuring, Bird & Bird LLP, Financial Conduct Authority (UK)
HM Treasury publishes consultation on a new insolvency regime for UK authorised payment institutions (PI) and electronic money institutions (EMI)

On 3 December 2020, HM Treasury published the Government's proposal to implement a new special administration regime for PIs and EMIs (PI and EMI SAR), a copy of which can be seen here.

United Kingdom, Insolvency & Restructuring, Bird & Bird LLP, Financial Conduct Authority (UK)
Leave to appeal granted in Indalex

The Supreme Court of Canada granted leave to appeal yesterday in Indalex Limited (Re). This is an appeal from the Ontario Court of Appeal (2011 ONCA 265). Please see our Financial Services and Banking E-news Bulletin dated April 25, 2011, for a detailed summary of the decision of the Ontario Court of Appeal.

Canada, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Heenan Blaikie LLP, Debtor, Supreme Court of Canada, Court of Appeal for Ontario