Hong Kong, Insolvency & Restructuring, Litigation, Reynolds Porter Chamberlain, Court of First Instance (Hong Kong)
Introduction
Market participants welcome a clarification extending equitable subordination exemptions granted Sareb to those subsequently purchasing debt from Sareb.
On November 30, 2013, the Spanish legislator approved a recent amendment to Spanish insolvency law, introduced in March 2013, to clarify that a claim transferred to Spanish “bad bank” Sareb, and subsequently sold by Sareb to a third party, will also be exempt from equitable subordination risk.
Background
Spain, Insolvency & Restructuring, Latham & Watkins LLP, Tax exemption, Credit (finance), Debtor, Debt
The Spanish Congress has approved important amendments into the so-called Spanish scheme of arrangements, to facilitate Spanish company refinancings.