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Certain Companies that May be Subject to FDIC Orderly Liquidation Authority under Dodd-Frank are Now Subject to Qualified Financial Contract Recordkeeping Requirements

Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their affiliates, are now subject to recordkeeping requirements related to their “qualified financial contracts”1 (QFCs).

USA, Banking, Capital Markets, Insolvency & Restructuring, Dechert LLP, Depository institution, Federal Deposit Insurance Corporation (USA), Financial Stability Oversight Council, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)
Simplified procedure for initiating bankruptcy by the legal successors of banks

In October 2016, the Chamber for Commercial Disputes at the Supreme Court of the Russian Federation considered the cassation appeal of Eurasian Trading Company LLC (hereinafter – the Trading Company) in Case № А57-16992/2015 against the court’s refusal to introduce monitoring procedures with respect to RBP JSC (hereinafter – the Debtor) and decision to dismiss the application by the Trading Company without consideration.

Russia, Arbitration & ADR, Banking, Insolvency & Restructuring, Litigation, Dentons
Foreign Credit Institutions Entitled to Bankrupt Russian Companies Under a Simplified Procedure

In early 2015, credit institutions gained the right to initiate the bankruptcy of their debtors according to a simplified procedure – i.e., without a court decision ordering the recovery of debt.

Russia, Banking, Insolvency & Restructuring, Litigation, Dentons, Bankruptcy, Debtor, Court of Cassation (France)
Litigation. Major Russian legislation changes for 2015

1. Adoption and entry into force of the Russian Federation Code of Administrative Procedure dated March 8, 2015, No. 21-FZ

Russia, Arbitration & ADR, Insolvency & Restructuring, Litigation, Dentons