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Guidance published for IPs dealing with FCA regulated firms

On 12 May 2021 the FCA issued finalised guidance for insolvency practitioners who are tasked with managing insolvencies of regulated firms.

Aiming to help insolvency practitioners understand how to deal with firms in line with FCA requirements, the guidance covers the process from end-to-end including expectations in the pre-insolvency stage and specific procedures relating to insolvencies and restructuring. The aim of the guidance is to assist with the minimising of the impact of a failure of a regulated firm

United Kingdom, Company & Commercial, Insolvency & Restructuring, Addleshaw Goddard LLP, Financial Conduct Authority (UK)
Measures in German Insolvency Law due to the Outbreak of COVID-19

GENERAL INSOLVENCY LANDSCAPE IN GERMANY PRE-COVID-19

Without undue delay upon occurrence of illiquidity or overindebtedness, at the latest within three weeks, members of the representing body of a legal entity have to apply for the opening of insolvency proceedings over the assets of such entity

INSOLVENCY REASONS:

Germany, Insolvency & Restructuring, Addleshaw Goddard LLP, Coronavirus