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A boost for UK financial services

The U.K. Financial Services and Markets Act 2023

European Union, United Kingdom, Banking, Capital Markets, Compliance Management, Insolvency & Restructuring, Public, Trade & Customs, A&O Shearman, Corporate governance, Fintech, Due diligence, Carbon neutrality, Cryptocurrency, Anti-money laundering, Financial Conduct Authority (UK), European Commission, HM Treasury (UK), House of Lords, Bank of England, European Securities and Markets Authority, Prudential Regulation Authority (UK), MiFID, Solvency II Directive (2009/138/EU), Financial Services and Markets Act 2000 (UK), Banking Act 2009 (UK), UK Supreme Court
UK proposals for cryptoasset regulation

The U.K. government has published its much-anticipated proposals for regulating the cryptoasset industry. These proposals, currently in the form of a consultation, will see many (but not all) cryptoasset-related activities being brought within the regulatory perimeter for financial services in the U.K.

European Union, United Kingdom, Banking, Capital Markets, Insolvency & Restructuring, IT & Data Protection, White Collar Crime, A&O Shearman, Blockchain, Crowdfunding, Bitcoin, Due diligence, Cryptocurrency, Financial Services Compensation Scheme, Distributed ledger, ESG, Cybersecurity, Anti-money laundering, Central counterparties, Decentralised finance, Financial Conduct Authority (UK), House of Lords, FTX, MiFID, Financial Services and Markets Act 2000 (UK), Markets in Cryptoassets Regulation (EU)
Covid-19 : officially a pandemic

The World Health Organisation (WHO) declared COVID-19 as a “pandemic” on March 11, 2020.

India, Company & Commercial, Competition & Antitrust, Employee Benefits & Pensions, Employment & Labor, Immigration, Insolvency & Restructuring, Insurance, Litigation, Public, Cyril Amarchand Mangaldas, Due diligence, Force majeure, Coronavirus, World Health Organization
Is Liquidation Irreversible? Schemes of Compromise or Arrangement for Companies in Liquidation

The 2005 Report of the Expert Committee on Company Law (JJ Irani Committee Report) had noted that an effective insolvency law:

“should strike a balance between rehabilitation and liquidation. It should provide an opportunity for genuine effort to explore restructuring/ rehabilitation of potentially viable businesses with consensus of stakeholders reasonably arrived at. Where revival / rehabilitation is demonstrated as not being feasible, winding up should be resorted to.

India, Capital Markets, Competition & Antitrust, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Debtor, Securities and Exchange Board of India
New Delaware Chapter 11 Filing - Beauty Brands, LLC

Beauty Brands, LLC, along with two subsidiaries and affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10031).

USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
New Delaware Chapter 11 Filing - Angel Medical Systems, Inc.

Angel Medical Systems, Inc., a developer of medical devices based in Eatontown, NJ, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12903).

USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
New Delaware Chapter 11 Filing - White Eagle Asset Portfolio, LP

White Eagle Asset Portfolio, LP, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12808).

USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
New Delaware Chapter 11 Filing - Checkout Holding Corp. (Catalina Marketing)

Checkout Holding Corp. (dba Catalina Marketing), along with ten affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12794).

USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, United States bankruptcy court, US District Court for District of Delaware
New Delaware Chapter 11 Filing - interTouch Holdings LLC

interTouch Holdings LLC and its affiliate, interTouch TopCo LLC, have both filed petitions for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12772).

USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, US District Court for District of Delaware
New Delaware Chapter 11 Filing - Argos Therapeutics, Inc.

Argos Therapeutics, Inc. (f/k/a Merix Bioscience, Inc.) has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-12714).

USA, Delaware, Insolvency & Restructuring, Litigation, Cole Schotz PC, US District Court for District of Delaware