German legislator finally introduces tax exemption for income resulting from debt waivers in restructuring scenarios with retroactive effect.
Germany, Insolvency & Restructuring, Tax, Latham & Watkins LLP, Tax exemption, Debtor, Waiver, Limited liability partnership
To date, a debt waiver has been frequently used as a tool to successfully restructure German-based companies in financial difficulties.
Restructuring companies in respect of which there exists a significant credit default swaps (CDS) market adds an additional level of complexity which the debtor and all stakeholders should consider and assess early on in the process, as it could determine the success or failure of a restructuring plan.
European Union, Global, USA, Derivatives, Insolvency & Restructuring, Latham & Watkins LLP, Bond (finance), Bankruptcy, Credit (finance), Debtor, Interest, Swap (finance), Credit risk, Maturity (finance), Balance sheet, Credit default swap
Clearing and Netting Legislation
Russia, Derivatives, Insolvency & Restructuring, Latham & Watkins LLP, Bankruptcy, Security (finance), Money laundering, Mutual fund, Derivatives market, Council of Europe, Financial Action Task Force, State Duma