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Increased Protection for Employees in Insolvency Situations Signed into Law

The Employment (Collective Redundancies and Miscellaneous Provisions) Act 2024 has been signed into law. The Act, once commenced, will amend the existing collective redundancy regime in insolvency situations and will deliver on key Programme for Government commitments detailed in the Plan of Action – Collective Redundancies following Insolvency.

Background

Ireland, Employment & Labor, Insolvency & Restructuring, Arthur Cox LLP, Insolvency, Department of Enterprise, Trade and Employment (Ireland), Companies (Rescue Process for Small and Micro Companies) Act 2021 (Ireland)
Increased protection for employees in insolvency situations signed into law

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2024 has been signed into law. The text of the Act remains unchanged from when we published a briefing on the Bill in December here.

At A Glance

Ireland, Employment & Labor, Insolvency & Restructuring, Arthur Cox LLP
One Step Closer to Increased Protection for Employees in Insolvency Situations

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Bill 2023 (the “Bill”) proposes amendments to the existing collective redundancy regime in insolvency situations. If enacted, the Bill will deliver on key Programme for Government commitments detailed in the Plan of Action – Collective Redundancies following Insolvency.

Ireland, Employment & Labor, Insolvency & Restructuring, Arthur Cox LLP, Insolvency
Progress on Increased Protection for Employees in Insolvency Situations

A recently published Bill proposes amendments to the existing collective redundancy regime in insolvency situations. If enacted, the Bill will deliver on key Programme for Government commitments detailed in the Plan of Action – Collective Redundancies following Insolvency.

Ireland, Employment & Labor, Insolvency & Restructuring, Arthur Cox LLP, Insolvency, Department of Enterprise, Trade and Employment (Ireland), Companies (Rescue Process for Small and Micro Companies) Act 2021 (Ireland)
Consolidated Appropriations Act of 2021 Amends Bankruptcy Code

As discussed in previousposts, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law on December 27, 2020, largely to address the harsh economic impact of the COVID-19 pandemic.

USA, Insolvency & Restructuring, Litigation, Mintz, Coronavirus
Consolidated Appropriations Act of 2021 Amends Bankruptcy Code

Part 2: Amendments Affecting Mortgage Lenders and Landlords

As discussed in a previous post, the Consolidated Appropriations Act of 2021 (the “Act”), which was enacted on December 27, 2020 in response to the economic distress caused by the COVID-19 pandemic, amended numerous provisions of the Bankruptcy Code. This post discusses amendments specifically affecting landlords.

USA, Insolvency & Restructuring, Litigation, Real Estate, Mintz, Coronavirus
Consolidated Appropriations Act of 2021 Amends Bankruptcy Code Part 1: Amendments Clarifying Debtors’ Rights to Other Pandemic Relief

On December 27, 2020, in response to the economic distress caused by the COVID-19 pandemic and to supplement the CARES Act enacted in March 2020, the Consolidated Appropriations Act of 2021 (the “Act”) was enacted. In addition to providing $900 billion in pandemic relief, the Act benefits both debtors and creditors by temporarily modifying the following sections of the Bankruptcy Code, which may be of particular interest to creditors:

USA, Insolvency & Restructuring, Litigation, Mintz, Coronavirus, Paycheck Protection Program, CARES Act 2020 (USA)