In This Issue:

U.S. Supreme Court: Creditors May Immediately Appeal Denials of Automatic-Stay Relief

Aussetzung der Insolvenzantragspflicht, Lockerung der Zahlungsverbote, Einschränkung der Insolvenzanfechtung, Ausschluss der Kündigung von Miet- und Pachtverhältnissen sowie Verbraucherdarlehensverträgen, Moratorium zu Gunsten von Verbrauchern und Kleinstunternehmen betreffend wesentlicher Dauerschuldverhältnisse, weitere Regelungen

Gesetz zur Abmilderung der Folgen der COVID-19 Pandemie

In McKillen v. Wallace (In re Irish Bank Resolution Corp. Ltd.), 2019 WL 4740249 (D. Del. Sept. 27, 2019), the U.S. District Court for the District of Delaware had an opportunity to consider, as an apparent matter of first impression, whether the U.S. common law "Barton Doctrine" applies extraterritorially. One of the issues considered by the district court on appeal was whether parties attempting to sue a foreign representative in a chapter 15 case must first obtain permission to sue from the foreign court that appointed the foreign representative.

Wi­der­le­gung der Ver­mu­tung ei­ner ein­ge­tre­te­nen Zah­lungs­un­fä­hig­keit durch Ein­ho­lung ei­nes Sach­ver­stän­di­gen­gut­ach­tens (BGH, Be­schluss vom 12. Sep­tem­ber 2019 – IX ZR 342/18)

Ein kürz­lich er­gan­ge­ner Be­schluss des BGH setzt sich mit der Fra­ge aus­ein­an­der, wie der An­fech­tungs­geg­ner der An­nah­me der Zah­lungs­un­fä­hig­keit des Schuld­ners im Pro­zess ent­ge­gen­tre­ten kann.

In In re O’Reilly, 598 B.R. 784 (Bankr. W.D. Pa. 2019), the U.S. Bankruptcy Court for the Western District of Pennsylvania denied the petition of a foreign bankruptcy trustee for recognition under chapter 15 of the Bankruptcy Code of a debtor’s Bahamian bankruptcy case. Although the Bahamian bankruptcy was otherwise eligible for chapter 15 recognition, the U.S.

For more than a century, courts in England and Wales have refused to recognize or enforce foreign court judgments or proceedings that discharge or compromise debts governed by English law. In accordance with a rule (the "Gibbs Rule") stated in an 1890 decision by the English Court of Appeal, creditors holding debt governed by English law may still sue to recover the full amount of their debts in England even if such debts have been discharged or modified in connection with a non-U.K.

U.S. courts have a long-standing tradition of recognizing or enforcing the laws and court rulings of other nations as an exercise of international "comity." Prior to the enactment of chapter 15 of the Bankruptcy Code in 2005, the procedure for obtaining comity from a U.S. court in cases involving a foreign bankruptcy or insolvency case was haphazard and unpredictable. A ruling recently handed down by the U.S. District Court for the Northern District of Illinois indicates that the enactment of chapter 15 was a game changer in this context. In Halo Creative & Design Ltd. v.

Der Bundestag hat am 8. November 2018 die von der Restrukturierungsbranche ersehnte gesetzliche Regelung zur Steuerbefreiung von Sanierungsgewinnen endlich auf den Weg gebracht. Es wird erwartet, dass auch der Bundesrat in Kürze seine Zustimmung erteilt.

Die Neuregelung:

The recently published report on the evaluation of the ESUG, the German law to facilitate the restructuring of companies, states that the changes introduced by the ESUG have been received positively overall, but that there is still room for improvement in many areas. Should the EU Restructuring Directive actually be adopted at the beginning of 2019, the legislator would have the opportunity to improve the ESUG legislation and implement the EU requirements for pre-insolvency restructuring proceedings in one bill.