Federal Law No. 391-FZ on Amendments to Certain Legislative Acts of the Russian Federation of December 29, 2015
The Law introduced amendments to various regulatory acts in the area of bankruptcy, notaries, appraisal activities and concession agreements. We will touch on the changes most important for the real estate market:
Leslie Benedict: “Money isn’t everything, Jett”
Jett Rink: “Not when you’ve got it.”
Giant (1956)
1. Adoption and entry into force of the Russian Federation Code of Administrative Procedure dated March 8, 2015, No. 21-FZ
The Court of Appeal has recently considered whether an LPA Receiver owes a duty of care to a bankrupt mortgagor in connection with the way the Receiver deals with the mortgaged property. In a decision which will be welcomed by Receivers and their insurers, the court decided that a Receiver owes no such duties.
The facts
Earlier in April last year, we wrote an article on the insolvency exemption to the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO). Insolvency practitioners will be disappointed to hear that it has now been confirmed that the exemption will be lifted later this year.
According to recent Italian case law Real Estate Funds may now enter as debtors into the debt restructuring agreements (so called “accordi di ristrutturazione dei debiti”) provided for by the Italian bankruptcy law.1 Reference is made to Milan Court Decrees 6 November 2015 and 3 December 2015 (the “Case Law”).2
An update on recent changes
1 October 2015 – A day of changes to insolvency law
The start of October 2015 brought about important changes in insolvency law, affecting both creditors and debtors alike. The most notable changes are detailed below.
Harmonising office holder claims in administration and liquidation
The High Court has granted three insolvent Cayman companies (each in liquidation) a worldwide freezing order in support of proceedings against Mr Terrill, an individual who operated behind the companies' respective corporate directors as their sole director and shareholder. The court exercised its discretion to grant the injunction despite there being a delay of more than a year between the discovery of suspicious transactions linked to Mr Terrill and a Letter of Request applying for a freezing order being sent by the Cayman court together with the companies' liquidators to the Englis
The Ontario Court of Appeal (Court) recently affirmed the decision of the Ontario Superior Court of Justice in Nortel Networks Corporation (Re) (Nortel),[1] that the “interest stops” rule applies in proceedings unde
Use of cookies on this website We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you agree to our use of cookies. To close this message click close. December 15, 2015 Since the promulgation of the Companies Act 2008 (the Act), there has been a lack of clarity regarding the effect of the reinstatement of a deregistered company in terms of the Act.