The Spanish government has very recently approved a reform of the Spanish Insolvency Law, which will enter into effect within 20 days of its publication in the Spanish Official State Journal (Boletín Oficial del Estado), except for the third book of the restated Spanish Insolvency Law, which will enter into effect on 1 January 2023.
Hace unos días se aprobó la reforma de la Ley Concursal, que entrará en vigor a los veinte días de su publicación en el «Boletín Oficial del Estado», con excepción del libro tercero del texto refundido de la Ley Concursal, que entrará en vigor el 1 de enero de 2023.
The High Court in London gave judgment on Friday, 3 July 2020 on the relative ranking of over $10 billion of subordinated liabilities in the administrations of two entities in the Lehman Brothers group.
The Court of Appeal in London today gave judgment on Parts A and B of the Lehman Waterfall II Appeal, as part of the ongoing dispute as to the distribution of the estimated £8 billion surplus of assets in the main Lehman operating company in Europe, Lehman Brothers International (Europe) (LBIE).
The Supreme Court in London today gave judgment in the Waterfall I appeal, a dispute as to the distribution of the estimated £8 billion surplus of assets in the main Lehman operating company in Europe, Lehman Brothers International (Europe) (LBIE).
LBIE entered administration on 15 September 2008 and has now paid its unsecured creditors dividends of 100p in the £. The Waterfall I Supreme Court appeal addressed some of the key issues as to who should receive the surplus, which we discuss below.
“So-called” Currency Conversion Claims
El pasado miércoles 27 de mayo de 2015 se produjo la entrada en vigor de la Ley 9/2015, de 25 de mayo, de medidas urgentes en materia concursal. Se termina así el proceso de conversión en Ley del Real Decreto-Ley 11/2014, de 5 de septiembre (ver e-bulletin publicado).
Act 9/2015, of 25 May, regarding urgent measures on insolvency, entered into force in Spain on 27 May 2015, thus concluding the process to give Royal Decree Law 11/2014, of 5 September, the status of an Act in its own right (see published e-bulletin).
On Friday 5 September, the Spanish Council of Ministers approved Royal Decree Law 11/2014, of 5 September, regarding urgent measures on insolvency. The Royal Decree Law brings in a series of significant reforms to the Spanish Insolvency Act 22/2003, of 9 July (the "Insolvency Act"). The new Royal Decree Law entered into force on 7 September 2014.