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.
In 2003 the Seventh Circuit Court of Appeals surprised many observers when it held that a sale of real property under section 363 of title 11 of the United States Code (Bankruptcy Code) could be approved free and clear of a lessee’s leasehold interest in the property. Precision Industries, Inc. v. Qualitech Steel SBQ, LLC (In re Qualitech Steel Corp. & Qualitech Steel Holdings Corp.), 327 F.3d 537 (7th Cir. 2003) (Qualitech).
Being inexperienced can contribute to getting into disciplinary trouble, but it can also be a mitigating factor in a bar disciplinary case. That’s the message of a recent opinion of the Oklahoma Supreme Court, which imposed a six month suspension from state practice as reciprocal discipline on a lawyer who had already been suspended from federal bankruptcy court practice for five years.
Raising the risk?
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.
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:
The long-awaited UAE Federal Bankruptcy Law (the New Law) is expected to take effect on 29 December 2016. The reforms aim to modernise the largely untested existing bankruptcy legislation in a manner suitable to the economic and business landscape of a fast-developing country like the UAE. The move is away from the stigma of bankruptcy and business failure to rescue and rehabilitation.