On May 9 2017 the Amsterdam Court of Appeals ruled that the Russian liquidation order of August 1 2006 regarding OAO Yukos Oil Company is contrary to Dutch public order and therefore null and void.(1) An interesting question is whether the judgment will have a bearing in the appeal of the annulment proceedings concerning the $50 billion Energy Charter Treaty (ECT) arbitration case between former Yukos shareholders and Russia, which is pending before The Hague Court of Appeal.
Affinity Credit Union 2013 v. Vortex Drilling Ltd. 2017 SKQB 228
Introduction The number of financial institutions that have announced the relocation of their EU headquarters from the UK to Germany has increased during the last weeks. In the meantime, some of the largest US and Asian institutions have confirmed their plans to expand their operations in Germany, and we expect others to follow soon. How can we assist? This briefing shall provide you with an overview of a number of issues that may be of interest for your decision to expand your operations in Germany.
Il 5 aprile scorso l’Avvocato Generale Campos Sànchez-Bordona (AG) ha rassegnato le proprie conclusioni nell’ambito della causa C-245/16 pendente innanzi alla Corte di Giustizia (CdG) e instaurata su un rinvio pregiudiziale da parte del TAR Marche.
National Insolvency Review, February 2017
Most or all creditors who lend to farmers will be familiar with the Farm Debt Mediation Act, S.C. 1997, c. 21 (the “FDMA”) and the need to serve a notice under the FDMA before taking action against a farmer. However, there are some details of how the FDMA operates that may not be as well-known. This piece will highlight some of those details.
New legislation came into force in Hong Kong in eary February which gives the court power to set aside transactions performed at an undervalue. This briefing explains the scope of this new law and the key considerations for directors when approving corporate transactions in order to avoid the risk of incurring personal liability. It is available in English and Chinese.
The High Court yesterday held that a Chairperson of a shareholder scheme meeting may reject votes cast against a scheme of arrangement in circumstances where the shares were acquired through an artificial share-splitting exercise designed to frustrate the scheme. It is the first English case to consider this issue and while it arose in the context of a shareholder scheme, the impact is also significant for debt restructurings implemented by way of a creditor scheme of arrangement.
Background
Welche Folgen hat die Entscheidung für abgeschlossene Verfahren? Was bedeutet sie für die Zukunft?
On November 22, Judge Stuart Bernstein of the United States Bankruptcy Court for the Southern District of New York dismissed a series of claims brought by the bankruptcy trustee (Trustee) responsible for liquidating Bernard L. Madoff Investment Securities LLC (BLMIS), which sought to claw back and recover over $4 billion in transfers made by certain nonU.S. hedge funds to their non-U.S. investors.
On 22 November 2016, the European Commission published a draft directive on insolvency, restructuring and second chance. In this briefing we consider the proposals and what it means for European insolvency and for the UK.
On 22 November 2016, the European Commission published a draft directive on insolvency, restructuring and second chance (the Proposals).
What are the Proposals? The Proposals have three main parts: