In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

Contents

In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company’s creditors.

Contents

In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company's creditors.

Contents

In brief

The UK Supreme Court has handed down its long-awaited judgment in relation to the case of BTI 2014 LLC (Appellant) v. Sequana SA and others (Respondents) [2022] UKSC 25, concerning the duty of directors of a company registered under the Companies Act 2006 to consider (and act in accordance with) the interests of the company's creditors.

Contents

In brief

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act ("Act") received royal assent on 15 December 2021.

The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities.

In brief

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act ("Act") received royal assent on 15 December 2021.

The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities.

Yeni Gelişmeler

Gelir Vergisi Kanunu ile Bazı Kanunlarda Değişiklik Yapılması Hakkında Kanun ("Torba Kanun") 19 Temmuz 2019 tarih ve 30836 sayılı Resmi Gazete'de yayımlanarak yürürlüğe girdi. Torba Kanun finansal yeniden yapılandırmaya ve gelir vergisine ilişkin düzenlemeler içeriyor.

Torba Kanun ne getiriyor?

Finansal Yeniden Yapılandırma

Recent Developments 

The Law on the Amendment to the Income Tax Law and Certain Laws (the "Omnibus Bill") entered into force upon its publication on the Official Gazette No. 30836 dated July 19, 2019. The Omnibus Bill includes provisions for financial restructuring and tax related matters.

What’s New?

Financial Restructuring

When being sued, corporate and individual defendants should always confirm that the plaintiff has not been previously discharged in bankruptcy and failed to disclose the claim in the proceeding as an asset of the bankruptcy estate. In Guay v. Burack, 677 F.3d 10 (1st Cir. 2012), the plaintiff brought numerous claims against various governmental entities, governmental officials and a police officer.

Masuda, Funai, Eifert & Mitchell routinely represents creditors in bankruptcy proceedings in order to protect their contractual and legal interests and rights to payment. The following is a list of some recent larger U.S. bankruptcy filings in various industries. To the extent you are a creditor to any of these debtors, or other entities which may have filed for bankruptcy protection, you as a creditor are entitled to certain protections under the Bankruptcy Code.

AUTOMOTIVE