Cancellation of debt a key element of most restructurings generally triggers taxable income. The German tax authorities had issued an administrative decree (the "Tax Restructuring Decree" - Sanierungserlass), however, declaring that, upon the satisfaction of certain requirements and conditioned on forfeiture of any loss carry forwards, the cancellation of debt income ("CODI") would not be taxed.
A Jersey company or one of its creditors may wish the company to be placed into administration in England under Schedule B1 of the UK's Insolvency Act 1986 (the "Act").
Jersey, United Kingdom, Insolvency & Restructuring, Bedell Cristin, Debtor, Commercial property, Limited partnership, Liquidation, Commercial mortgage-backed security, Unit trust, Insolvency Act 1986 (UK), Courts of Jersey
A Jersey company or one of its creditors may wish the company to be placed into administration in England under Schedule B1 of the UK's Insolvency Act 1986 (the "Act").
Jersey, United Kingdom, Insolvency & Restructuring, Bedell Cristin, Debtor, Commercial property, Limited partnership, Liquidation, Commercial mortgage-backed security, Unit trust, Insolvency Act 1986 (UK), Courts of Jersey