As a general rule, lodging an appeal against a judgment no longer suspends its enforceability. This should accelerate the recovery of outstanding debt in Belgium.
Recovering outstanding debt in Belgium can feel like a long-winded and sometimes frustrating job. A creditor who obtained a judgment against a defaulting debtor is often confronted with an appeal by that debtor, lodged with the only intention to put the enforcement of this judgment on a back burner. Most courts of appeal built up a large backlog as a result of the massive workload of among others these dilatory appeals.
Ruim zes jaar na het faillissement van het Meavita-concern heeft de Ondernemingskamer zich op 2 november jl. in harde bewoordingen uitgelaten over het handelen van bestuur en toezichthouders. De uitspraak volgt op een door de vakbonden en curatoren gestarte enquêteprocedure, waarin het beleid en de gang van zaken binnen Meavita voorafgaand aan faillissement zijn onderzocht.
Bankruptcy practitioners routinely advise secured creditor clients to file protective proofs of claim in bankruptcy proceedings despite those clients’ ability to ignore bankruptcy proceedings and decline filing claims without imperiling their lien due to the protections afforded by state law foreclosure rights.[1] But a recent Ninth Circuit decision is causing attorneys and clients to reconsider whether this traditionally conservative approach is simply too risky in Chapter 13 cases. HSBC Bank v. Blendheim (In re Blendheim), No. 13-35412, 2015 WL 5730015 (9th Cir. Oct.
Quoted October 2015 - Edition 105 Current issues relating to accounting law, article 403 liability and insolvency law 2 In this edition • Introducion • Financial reporting • Article 403 liability • Facilitating reorganisations of businesses: Dutch pre-packs and schemes 3 Fourth Directive (78/660/EEC) and the Seventh Directive (83/349/EEC) in relation to individual and consolidated accounts, and Directive 2013/50/EU, which amends a number of the provisions of the Prospectus Directive (2003/71/EC) and the Transparency Directive (2004/109/ EC). 1.
This is the fifth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. This alert covers the Commission’s recommendations regarding the now predominant practice of selling substantially all of the debtor’s assets as a going concern, free of all claims, at the outset of a bankruptcy case. The process, known as a “363 Sale” for the Bankruptcy Code section that applies, has been hailed as a job-saving measure and condemned for giving all value to lenders and none to other creditors.
Will Congress Finally Act?
This is the fourth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. We discuss here the Commission’s efforts to require that debtor’s management act in a more transparent fashion. For copies of this or any prior articles about the Commission, please contact any BakerHostetler bankruptcy attorney.
This is the fourth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. We discuss here the Commission’s efforts to require that debtor’s management act in a more transparent fashion. For copies of this or any prior articles about the Commission, please contact any BakerHostetler bankruptcy attorney.
Will Congress Finally Act?
This is the third in a series of Alerts regarding the proposals made by the American Bankruptcy Institute’s Commission to Reform Chapter 11 Business Bankruptcies. It covers the Commission’s recommendations about the fiduciary obligations of a Chapter 11 debtor’s directors and officers and proposed changes to typical defenses asserted to state causes of action. For copies of this or any prior articles about the Commission, please contact any BakerHostetler bankruptcy attorney.
Director and Officer Fiduciary Duties in Chapter 11
This is the second in a series of Alerts regarding the proposals made by the American Bankruptcy Institute’s Select Commission to Reform Chapter 11 Business Bankruptcies. It covers the Commission’s recommendations about the paying of “critical vendors” and other unsecured creditors at the very beginning of a bankruptcy case. The Commission’s recommendations are set forth below. For copies of this Alert, or the prior article about the Commission’s recommendations regarding secured lenders, please contact any BakerHostetler bankruptcy attorney.
Congress rarely accomplishes anything these days, but the need to reform Chapter 11 of the Bankruptcy Code seems to have “crossed over the aisle.” When the Bankruptcy Code was enacted in 1978, America boasted the world’s dominant manufacturing economy. Corporate debt was mostly unsecured trade debt. Secured loans provided tangible asset financing for property, plant, and equipment.