1. The characterisation of art. 1(1) ERIP and role of the Annex
Creditors frustrated by cost and time delays in cross border disputes, as well as from unscrupulous delaying tactics by debtors, will have some comfort in the form of the revised EU Judgments Regulation. The revised Regulation came into force on 10 January 2015 and aims to resolve cross-border legal disputes more easily, bringing huge cost savings to creditors.
The vast majority of UK taxpayers pay what they owe in full and on time. Her Majesty’s Revenues and Customs (HMRC) thinks that a persistent minority choose not to pay which provides an undeserved advantage to those who are wilfully seeking to play the system, and creates costs which are ultimately borne by the compliant majority.
The fourth additional provision of the Spanish Insolvency Act (IA) provides for homologation (court sanctioning) of a refinancing agreement signed by creditors representing at least 51 per cent of financial liabilities whilst meeting certain conditions set out in article 71 bis at the time of adoption of said agreement.
(Auto del Juzgado de lo Mercantil número 1 de San Sebastián, de 19 de noviembre de 2013).
Este auto afirma la competencia del Juzgado de lo mercantil de San Sebastián para declarar la apertura del concurso de la sociedad Fagormastercook SA con domicilio social en Wroclaw (Polonia). La concursada es filial de Fagor Electrodomésticos S. Coop., cuya solicitud de concurso había tenido entrada en el mismo juzgado, si bien en la fecha del auto estaba pendiente de declaración.
Presentación
El análisis de la Ley 9/2012, de 14 de noviembre, de Reestructuración y Resolución de Entidades de Crédito y de la aplicación de algunos de sus preceptos en supuestos con elementos internacionales exige partir de dos premisas:
Background