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UK Government consultation on a new insolvency regime for UK-authorised payment institutions and electronic money institutions

On 3 December 2020, the UK Government (HM Treasury) issued a consultation paper (the Consultation) setting out a proposal to implement a new “special administration regime” (the SAR) which it is proposed would apply to any insolvency of an authorised payment institution (a PI) or electronic money institution (an EMI).

United Kingdom, Company & Commercial, Insolvency & Restructuring, Bird & Bird LLP, Financial Conduct Authority (UK)
HM Treasury publishes consultation on a new insolvency regime for UK authorised payment institutions (PI) and electronic money institutions (EMI)

On 3 December 2020, HM Treasury published the Government's proposal to implement a new special administration regime for PIs and EMIs (PI and EMI SAR), a copy of which can be seen here.

United Kingdom, Insolvency & Restructuring, Bird & Bird LLP, Financial Conduct Authority (UK)
Enforcing an award against an insolvent company

Introduction

An arbitral award is sufficient evidence to commence an insolvency involuntary proceeding against a debtor.[1]

With this case law a door has been opened to an alternative remedy: securing the debt recognized under an arbitration award through insolvency proceedings, and use this course of action to push the debtor to eventually settle.

In this article, we will address:

Mexico, Arbitration & ADR, Insolvency & Restructuring, Clyde & Co LLP