Earlier intervention in case of distress to preserve value and save jobs. That is the goal of the proposed 'EU Business Restructuring Directive', which was presented yesterday by the European Commission and aims to ensure a minimum harmonization of restructuring procedures within the European Union.

Singapore’s Ministry of Law has unveiled significant proposed changes aimed at revising Singapore’s restructuring and insolvency laws and developing Singapore into a regional debt restructuring hub.¹

IN BRIEF

Draft legislation unveiled

In Brief

For the first time, a court has adopted the ‘centre of main interest’ (COMI) as grounds at common law to recognise foreign insolvency proceedings.

The decision earlier this year by the High Court of Singapore (the Court) recognised a Japanese bankruptcy trustee appointed to companies incorporated in the British Virgin Islands (BVI):

De verjaringstermijn van na faillietverklaring vervallende rentevorderingen neemt pas een aanvang na het eindigen van het faillissement. Dat heeft de Hoge Raad op 24 juni 2016 geoordeeld in het arrest Boele's Scheepswerven II. Schuldeisers hoeven de verjaring van rentevorderingen gedurende een (eerste) faillissement dan ook niet te stuiten.

Major insolvency reform: Getting the (ipso) factos straight

In brief

In brief

On 29 April 2016, the Australian Federal Government (Government) announced three major insolvency law reform proposals in its Improving Bankruptcy and Insolvency Laws Proposal Paper¹ (Proposal). The Government has invited submissions from stakeholders and given this is a rare opportunity to undertake substantial reform, we strongly encourage involvement.