In a groundbreaking ruling, the Court of Appeal for British Columbia recently delivered a decision that is poised to significantly influence insolvency proceedings. The case, cited as British Columbia v. Peakhill Capital Inc., 2024 BCCA 246, marks the first time an appellate court has addressed the jurisdiction and appropriateness of reverse vesting orders (RVOs) in receivership contexts. This ruling provides crucial insights into the court's reasoning and its implications for legal and non-legal professionals alike.

Background and core issue

On 19 June 2024, the expected amendment to the Act on Transformations of Business Corporations and Cooperatives was published in the Collection of Laws. The amendment mainly transposes Directive (EU) 2019/2121 of the European Parliament and of the Council.

In addition to harmonising the process of cross-border transformations, unifying the regulation and reducing the administrative burden, the amendment also introduces a completely new form of transformation.

Below we summarise the key changes.

A public and competitive process

2023 closed with a significant rise in the number of insolvencies in France. With a total of 56,200 insolvency proceedings (redressement judiciaire and liquidation judiciaire), mainly in the retail sector, the opportunities for taking over a business at the bar of a court are multiplying.

However, these takeovers are governed by a strict timetable and formalities, requiring a thorough understanding of the workings of insolvency law.

The Judicial Committee of the Privy Council has decisively redrawn the boundaries between arbitration agreements and insolvency proceedings in the case of Sian Participation Corp (In Liquidation) v Halimeda International Ltd.[1]

Insolvenzanträge von namhaften Projektentwicklern und Immobiliengesellschaften stellen die betroffenen Unternehmen und ihre Gläubiger vor große Herausforderungen und setzen die gesamte Immobilienbranche unter Druck. Gleichzeitig gewinnen alternative Restrukturierungsmethoden, die außerhalb oder bereits im Vorfeld eines formalen Insolvenzverfahrens stattfinden, zunehmend an Bedeutung.

Vor diesem Hintergrund fällt auch vermehrt das Stichwort “StaRUG“, wenn es um die Restrukturierung von immobilienhaltenden Gesellschaften geht.

The FCA has now published proposed amendments to its (the IP guidance). Our previous article highlighted the significance of the Consumer Duty in the financial services industry and how firms will need to view customer outcomes and proactively address harm in the retail market.

Introduction

The proud sporting nations of Ireland and England have for some time traded blows and bragging rights within the Six Nations Tournament as the two pre-eminent and consistent "Home Nations" rugby teams. While the two sides share some similarities in the rebuilding process following the World Cup in France 2023, ahead of this Saturday's clash, few can argue with Ireland's emphatic start to this year's tournament. England, however, can never be written off at Twickenham, so a potential blockbuster awaits!

The Calcutta Cup represents a long and competitive rugby rivalry between the great neighbours that are Scotland and England. Last year, Scotland retained the trophy in a hard-fought match at Twickenham with victory being sealed in the last minute with a try from Duhan van der Merwe who, being 6ft 4 inches, blond and in the peak of physical health, is a fair representation of your average Scotsman.

Bankruptcy law has always been an interesting area to practice and study in China. Having nominally a “socialist market economy” as per its Constitution, China allows its private sector to operate relatively freely within regularly re-defined boundaries but has a strong state-owned sector that comprises about half of the entire economy. Adding constant concerns about social stability in the country of 1.4 billion people, the rules for companies going into insolvency must be a careful balance between capitalist “freedom to fail” principles and governmental control over the economy.

在中国，破产法一直是一个有趣的实践和研究的领域。自从社会主义市场经济被写入我国宪法，我国就允许私营企业在定期不断重新界定的范围内相对自由地经营，同时约占整个经济一半的国有企业也展现出其雄厚的实力。在这个拥有14亿人口的国家，社会稳定问题一直备受关注，因此企业破产制度必须在资本主义“允许失败的自由”原则和政府对经济的管控之间保持谨慎的平衡。

中国的破产法从业人员一直热切期待新的并且能够对公司何时以及如何进行破产清算与重整产生影响的法律法规出台。中华人民共和国第十四届全国人民代表大会常务委员会第七次会议于2023年12月29日审议并通过了新修订的《中华人民共和国公司法》（简称“新公司法”），将自2024年7月1日起正式实施。本文将从破产实务的角度对新公司法进行解读。