Cuatrecasas, Gonrcalves Pereira has advised one of the coordinating institutions on the process for the acquisition of NATRA debt and on the design and implementation of the refinancing, including the execution of a lock-up agreement.
Act 15/2015 regulates voluntary jurisdiction cases processed in the courts, which are legally considered all cases requiring court intervention to protect rights and interests in civil and commercial law matters that do not involve disputes that must be heard in litigation proceedings.
The SC adopts a decision on the inclusion of contractual set-off agreements that document a single financial transaction within the scope of application of Royal Decree-Act 5/2005 and on the insolvency classification of the credits resulting from financial swap, thus settling the disparity of criteria that existed in our lower case law with respect to such matters.
The Supreme Court’s decision last term in Baker Botts v. Asarco, in which the Court ruled that professionals that are paid from a debtor’s bankruptcy estate cannot be compensated for time spent defending their fee applications, continues to rankle bankruptcy practitioners. Moreover, a recent decision in a Delaware bankruptcy case shows that the impact of Asarco will not be easily circumvented.
Bankruptcy and restructuring professionals usually do not need to be political junkies. Amendments to the Bankruptcy Code, and the accompanying machinations of the Congressional legislative process, typically occur at a glacial pace, and such changes nearly always affect future rather than current chapter 11 cases. However, the
Judgment of the Court of Appeal of Porto of October 8, 2015
Culpable insolvency – Duration of disqualification of the insolvent party
At a hearing in late August, Judge Robert Gerber expressed his annoyance with both sides in the ongoing battle to determine whether General Motors LLC (“New GM”), the entity formed in 2009 to acquire the assets of General Motors Corporation (“Old GM”), is shielded from lawsuits based on ignition switch defects in cars manufactured prior to New GM’s acquisition of the assets of Old GM in 2009.
Judgement No. 362/2015 - Official Gazette No. 186/2015, Series II of 09/23/2015
The Constitutional Court ruled unconstitutional the provision of Article 100 of the Insolvency and Corporate Recovery Code, approved by Decree-Law No. 53/2004, of March 18, if interpreted as the declaration of insolvency provided therein suspends the limitation deadline of tax debts attributable to the responsible subsidiary responsible person according to the tax procedure.
Judgment of the Supreme Court of 08/10/2015
BARCELONA PROVINCIAL COURT (DIVISION 15) RULING OF JUNE 31. 2015, NO. 170/2015: CHANGE IN THE RULE FOR DETERMINING THE EXISTENCE OF A GROUP UNDER THE INSOLVENCY ACT
In this judgment, the Provincial Court of Barcelona modified its previous position (despite a degree of dissent) on the concept of group for insolvency proceeding purposes.
DECISION OF THE GENERAL DIRECTORATE ON REGISTRIES AND NOTARIAL ACTIVITIES DATED OCTOBER 6, 2015: NO PUBLIC DEED REQUIREMENT FOR REGISTERING PROPERTY JUDICIALLY AWARDED IN AN INSOLVENCY PROCEEDING