Selección de las principales resoluciones en materia de reestructuraciones e insolvencias.
La competencia para conocer de un ERTE por fuerza mayor derivada del COVID-19 corresponde a la jurisdicción laboral y no al juez del concurso
Auto del Juzgado de lo Mercantil de León, de 1 de abril de 2020
Un informe de la Comisión Europea, del 3 de diciembre de 2019, analiza en los marcos legales sobre insolvencia e impago de deudas de los diferentes Estados miembros y, en concreto, los distintos sistemas de ejecución –tanto individual como colectiva– y su efectividad para recuperar los créditos de dudoso cobro (NPLs).
Jurisdiction to hear a case related to a temporary layoff procedure due to force majeure caused by COVID-19 lies with labor courts not the insolvency judge
Decision by León Commercial Court, April 1, 2020
In this study dated on December 3, 2019 the European Commission analyzes the legal frameworks on insolvency and defaults in the various member states; specifically, the various individual and collective loan enforcement systems –and their effectiveness for recovering non-performing loans (NPLs).
In This Issue:
U.S. Supreme Court: Creditors May Immediately Appeal Denials of Automatic-Stay Relief
Except for disastrous fires that sparked the largest bankruptcy filing of the year, liabilities arising from the opioid crisis, the fallout from price-fixing, and corporate restructuring shenanigans, economic, market, and leverage factors generally shaped the large corporate bankruptcy landscape in 2019. California electric utility PG&E Corp.
Section 510(b) of the Bankruptcy Code provides a mechanism designed to preserve the creditor/shareholder risk allocation paradigm by categorically subordinating most types of claims asserted against a debtor by equity holders. However, courts do not always agree on the scope of the provision in attempting to implement its underlying policy objectives. The U.S. Court of Appeals for the Fifth Circuit recently examined the broad reach of section 510(b) in In re Linn Energy, 936 F.3d 334 (5th Cir. 2019).
On September 10, 2019, Madrid Commercial Court number 6 delivered a decision arguing that it was necessary to examine whether the prior notice under article 5 bis of the Insolvency Law stemmed from steps taken to prepare or perform serious and effective negotiations.
The ability of a bankruptcy trustee to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law. However, when an otherwise avoidable transfer by a U.S. entity takes place outside the U.S. to a non-U.S. transferee—as is increasingly common in the global economy—courts disagree as to whether the Bankruptcy Code’s avoidance provisions apply extraterritorially to avoid the transfer and recover the transferred assets. Several bankruptcy and appellate courts have addressed this issue in recent years, with inconsistent results.
Final provision number three of the Trade Secrets Law, in force since March 13, 2019, authorized the government to approve a revised wording of the Insolvency Law within eight months. Under that authorization, on March 22 the Ministries of Justice and of Economy and Enterprise submitted a bill for the Revised Insolvency Law.