In a final ruling dated 6 March 2019 (Case ref.: 5 O 234/17), the Regional Court of Wiesbaden decided that the insolvency administrator and all insured persons are not entitled to claim insurance coverage for claims attributable to an insurance period for which the insolvency administrator has chosen not to fulfi l the D&O insurance contract.

Introduction

Earlier this year, PG&E Corporation and its utility subsidiary, Pacific Gas & Electric Company (PG&E), filed the largest utility bankruptcy in U.S. history, and the sixth-largest corporate bankruptcy ever. As we previously noted, a crucial issue in this case was whether the U.S.

Judgment was handed down in the High Court this morning, in a case where recognition of a winding-up of a solvent foreign investment fund was granted under the Cross-Border Insolvency Regulations 2006 ("CBIR").

This is the first time that the English Court has examined in detail the UNCITRAL Model Law on insolvency and the interplay with its Guides to Enactment, as well as case law from various jurisdictions concerning its application to solvent scenarios. Mrs Justice Falk found that:

Recent amendments to the UAE Civil Procedure Code (CPC) are aimed at modernising and enhancing the litigation process in the UAE Courts. This includes simplifying and expediting the process for a creditor to obtain an enforceable judgment on admitted debt claims as a "Payment Order". Clyde & Co reports here on this welcome development and a very recent success with such a claim under the new regime.

Civil procedure in the onshore UAE Courts has very recently been supplemented, and in certain key respects has been revised, by extensive Federal regulations signalling continued modernisation of the onshore legal process. These developments, effective from 16 February 2019, are of relevance to all businesses with a presence or commercial interests in the UAE, and are likely to be of particular positive interest to claimants.

PG&E Corporation and its utility subsidiary Pacific Gas & Electric Company (PG&E) recently filed the largest utility bankruptcy in U.S. history, and the sixth-largest corporate bankruptcy ever.

PG&E Corporation has announced that it and its subsidiary, Pacific Gas & Electric Company (PG&E), California’s largest electric utility, will file for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of California on or about Jan. 29, 2019. PG&E stated it will file bankruptcy in response to challenges relating to the catastrophic wildfires that occurred in Northern California in 2017 and 2018, which resulted in an estimated $30 billion in potential liability damages.

Greatest focus will be on retail and outsourcing sectors.

Judge decides whether an insurance company proposing a scheme of arrangement should convene a single class meeting of creditors