In a recent ruling, the Austrian Supreme Court has defined de facto managing directors and their obligations and liabilities in connection to wrongful trading.
The decision
The key takeaways from the ruling are:
Good evening.
Following are this week’s summaries of the Court of Appeal for Ontario for the week of September 13, 2021.
Good afternoon.
Please find below our summaries of the civil decisions of the Ontario Court of Appeal for the week of August 23, 2021.
There were three substantive civil decisions this week. Vu v. Canada (Attorney General) deals with discoverability and limitation periods related to the torts of false arrest and imprisonment. In dismissing the appeal, the Court confirmed the date of an arrest is merely a presumptive date for the commencement of the limitation period – a date that can be rebutted.
Good afternoon.
Following are this week’s summaries of the Court of Appeal for Ontario for the week of June 14, 2021.
In Kelava v. Spadacini, the Court found that a Deputy Judge of the Small Claims Court has the jurisdiction to make a representation order relying on Rule 12 of the ordinary Rules of Civil Procedure by analogy. The overriding consideration in Small Claims Court matters is access to justice.
Austria is gearing up to implement the EU Directive on Restructuring and Insolvency (known as the Restructuring Directive). We anticipate that the Restructuring Regulation (ReO) will enter into force on 17 July 2021.
The core element of the Restructuring Directive (and of the implementing law) is the promotion of a new restructuring procedure, to avoid the need for formal insolvency proceedings.
The restructuring proceedings
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Following are this week’s summaries of the Court of Appeal for Ontario for the week of May 31, 2021.
Austria is moving forward with plans to implement the directive on preventive restructuring frameworks. The draft new law implementing the changes was published in February 2021.
The focus of the draft law is to introduce preventive restructuring proceedings. This will provide a structure for pre-insolvency restructuring to allow for the cram-down of dissenting creditors provided certain conditions are met.
Key points of the current draft
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Following are this week’s summaries of the civil decisions of the Court of Appeal for Ontario.
Worum geht es?
Das derzeit in der Begutachtungsphase befindliche Restrukturierungs- und Insolvenz Richtlinie-Umsetzungsgesetz (RIRL-UG) soll, wie auch der Name schon andeutet, die EU-Richtlinie über Restrukturierung und Insolvenz (kurz zumeist nur Restrukturierungsrichtlinie genannt) in Österreich umsetzen.
Kernelement der Restrukturierungsrichtlinie und damit auch des geplanten Umsetzungsgesetzes, das Restrukturierungsordnung (ReO) heißen soll, ist eine dem Insolvenzverfahren vorgelagerte präventive Restrukturierung.
Good afternoon,
Following are this week’s summaries of the civil decisions of the Court of Appeal for Ontario.