The highly anticipated Insolvency and Corporate Governance Bill (the "Bill") was finally published on 20 May 2020. Following its second and third readings in the House of Commons yesterday (3 June 2020), the Bill will now be considered by the House of Lords in the coming days.

Gerade im Anbetracht der aus der Corona-Pandemie folgenden Krise stellt sich die Frage: Was passiert mit Token in der Insolvenz, insbesondere, wenn sie von einem Dienstleister für seine Kunden verwahrt werden?

As reported last month, as part of its response to the Covid-19 pandemic, the UK Government has brought forward reforms to the corporate insolvency regime. The Corporate Insolvency and Governance Bill (the "Bill") has now been introduced to Parliament.

Especially in view of the crisis resulting from the Coronavirus pandemic, the question arises: What happens to tokens in insolvency, especially if they are held in safekeeping by a service provider for his customers?

The UK Government has proposed legislation to address the difficulties faced by UK companies as a result of the COVID-19 pandemic when it comes to holding meetings of shareholders and filing documents with the UK Registrar of Companies (Companies House).

Lockdown, shutdowns, drops in revenue and related negative impacts of the COVID-19 pandemic faced by companies even still operating and in a healthy state have prompted the Czech government to respond to this situation and implement statutory measures to mitigate such impacts (the so-called LEX COVID), also in the area of insolvency. Most of such measures are only temporary during the extraordinary measures taken by public authorities during the COVID-19 pandemic. LEX COVID, which brings the below-mentioned changes, has already been enacted and came into force on 24 April 2020.

As a director or manager of a UAE company, you will know that like individuals, companies experience times of good health and occasional periods of sickness.

In this note, we focus on you, as directors (which includes managers) of “onshore” limited liability companies (“LLCs”), noting of course that the rules may also apply to certain free zone entities as well. We want you as directors to be certain of your duties and responsibilities in the good times but also sure of the actions you should or could take if things go wrong for your company, and financial difficulties arise.

In the midst of the COVID-19 pandemic and the far reaching and drastic measures implemented in numerous countries around the world, we are receiving an increasing number of insolvency and restructuring enquiries from our clients.

Als Teil des gesetzgeberischen Maßnahmenpakets zur Abmilderung der wirtschaftlichen Auswirkungen der COVID-19-Pandemie erleichtert das COVID-19-Insolvenzaussetzungsgesetz (COVInsAG) die rechtssichere Finanzierung kriselnder Unternehmen und setzt Anreize an deren Gesellschafterkreise: der Nachrang von Gesellschafterdarlehen und das Erfordernis eines Sanierungsgutachtens sind durch das COVInsAG suspendiert.

As previously reported, the UK Government has announced that it will urgently bring forward proposed reforms to the corporate insolvency regime, to give "breathing space" to companies in financial difficulty as a result of Covid-19. The proposed reforms, based on a consultation in 2018, include new restructuring and temporary moratorium procedures.