Introducción
Esta edición tiene esta vez bastante contenido interesante entre el que destacamos:
Background to this overview
The below overview is deemed to be a high-level overview providing the general outlines of the legal Luxembourg framework applicable to the members of the management board in private limited liability companies (sociétés à responsabilité limitée) (an “SARL”) in times of financial distress.
1. My tenant is in administration, do they have to pay the full rent and is the administrator personally liable?
The company in administration has to pay rent as an administration expense for each day that the company occupies or uses the property for the benefit of the administration. The administrator is not personally liable, but the rent is payable as a priority expense ahead of the administrator's fees.
The Irish High Court (Court) has pierced the corporate veil in Powers -v- Greymountain Management Ltd [In Liquidation] & Ors [2022] IEHC 599, to hold passive resident directors and non-resident shadow directors personally liable for funds lost to investors as a result of fraud.
The Facts
Introducción
En las Píldoras de este mes de noviembre destacamos dos sentencias de audiencias provinciales:
la de la AP de Tarragona que anula la garantía hipotecaria de la filial en favor de la deuda de su matriz a pesar de que había sido la matriz quien le aportó los fondos para comprar los inmuebles que se hipotecan. La audiencia adapta la doctrina de la compensación equivalente y considera que se sacrifica más de lo que se gana y por tanto el sacrificio patrimonial es injustificado.
This edition will cover:
The High Court (Court) has appointed an inspector to investigate the affairs of a company following the first recorded application by a creditor, under Section 747 of the Companies Act 2014 (Act).
The Facts
The applicant, a creditor of WFS Forestry Ireland Limited (Company), and at least seventeen others, claimed that investments they made in the Company, in the form of loans and other advances, were not repaid when due.
Entre las sentencias hechas públicas este mes de octubre reseñamos las incluidas en este resumen siendo especialmente destacable entre ellas la de la Audiencia Provincial de Asturias de 20 julio de 2022. En ella se rechaza el pacto por el cual un inmueble hipotecado adquirido en el concurso con subrogación en la deuda se pretende transmitir a otra sociedad del grupo con carga pero sin deuda.
In a recent decision, the Court of Appeal upheld a High Court finding, which granted a declaration under section 819 of the Companies Act 2014 (CA 2014), restricting the appellant director (Appellant) from acting as a director or secretary of a company for a period of five years, unless the company meets the requirements set out in subsection (3) of section 819.
Major restructuring destinations each provide distinct mechanisms for rehabilitating companies in distress. Our table sets out the similarities and differences in the processes available in Australia, England & Wales, Hong Kong, Singapore, and the USA.