1. Adoption and entry into force of the Russian Federation Code of Administrative Procedure dated March 8, 2015, No. 21-FZ
Today is the closing date for responses to a Government consultation on the tax treatment of company distributions. You can read the consultation document here.
The direction of travel, per the consultation, is clear. Anyone thinking of liquidating their company should consider these new rules carefully.
With the cyclical fluctuation in oil and gas commodity prices, the UKCS has had its fair share of E&P companies going insolvent. As the UKCS matures, the profile of companies that invest in the region is changing. Many smaller parties, potentially with less access to capital, are now building positions. The commercial exposure is that some companies will not be able to meet cash calls, creating headaches for their co-venturers.
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
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.
Introduction
The Ontario Court of Appeal recently affirmed the decision of the Ontario Superior Court of Justice in ReNortel Networks Corporation that the common law interest stops rule applies in proceedings under the Companies' Creditors Arrangement Act. The court also clarified that parties retain the right to provide for the consensual payment of post-filing interest in a Companies' Creditors Arrangement Act plan of reorganisation.
New options for investment due to recent legal development
Motorway´s insolvency in Spain
Nine motorway companies that were financed by local and international banks during the mid-2000s entered into Insolvency proceedings. Recently two of these motorways: Aeropistas M-12 (Madrid-Barajas airport) and Madrid Levante (AP-36 Ocaña-La Roda), begun the final “liquidation” phase of the Insolvency proceedings.
Stefan Ingves has spoken on the Basel Committee’s priorities for the next year. He focused on:
FMLC has written two letters to Treasury regarding bank recovery and resolution: