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Update - Revised draft bill for the new German business stabilization and restructuring regime ("German Scheme")

1. Background and Overview

As described in our Client Alert "The new German business stabilization and restructuring regime ("German Scheme")" dated 12 October 2020, the German Federal Ministry of Justice and Consumer Protection had presented a draft bill (the "Original Bill") to introduce a new business stabilization and restructuring framework - the new "German Scheme" - into German law.

Germany, Insolvency & Restructuring, Milbank LLP
Update - Partial Extension of the Suspension of Insolvency Filing Obligations until 31 December 2020

1. Background: Temporary Modification of the German Insolvency Regime to avoid COVID-19-related Insolvencies in Germany expires on 30 September 2020

Germany, Insolvency & Restructuring, Milbank LLP, Coronavirus
The PRC court registration system for bankruptcy petitions - latest developments and implication for the application of Automatic Early Termination in OTC financial derivative transactions

An insolvent enterprise incorporated in Mainland China (“PRC”) or its creditors (“Applicant”) may institute a bankruptcy proceeding against the insolvent enterprise under the PRC Enterprise Bankruptcy Law (“Bankruptcy Law”) by the filing of a bankruptcy petition. There have long been complaints by industry practitioners that PRC courts are reluctant to register bankruptcy petitions.

China, Derivatives, Insolvency & Restructuring, Litigation, King & Wood Mallesons