On 13 November 2009, the Commission approved a restructuring plan for ING Groep NV under the EC State aid rules. ING is a Dutch financial institution, offering its services in over 40 countries. In October 2008, the Commission approved the liquidity guarantees of €12 billion offered by the Dutch government to support ING during the economic crisis.
European Union, Netherlands, Banking, Insolvency & Restructuring, Trade & Customs, Squire Patton Boggs, Market liquidity, State aid, Subordinated debt, European Commission, ING Group
On the 12 November 2009, the OFT launched a market study into corporate insolvency. The investigation was prompted by concerns raised with the Government and the Insolvency Service, and also following a recent World Bank report which showed that the costs of closing a business in the UK are higher than in other countries.
United Kingdom, Competition & Antitrust, Insolvency & Restructuring, Squire Patton Boggs, Office of Fair Trading, World Bank