Pursuant to the amendment published in the Official Gazette dated 10 December 2025, No. 33103, the wording “1/1/2026” in Temporary Article 1 of the Communiqué on the Procedures and Principles Regarding the Implementation of Article 376 of the Turkish Commercial Code (the “Communiqué”) has been replaced with “1/1/2027”, and the amendment entered into force on the date of its publication.
In Nordic Power Partners P/S & Ors v Rio Alto Energia, Empreendimentos E Participacoes LTDA & Ors [2025] EWHC 2875 (Comm), the Commercial Court reconfirmed its willingness to grant interim relief to an energy investor in the context of international projects (here related to Brazil). Specifically, this decision provides an interesting insight into steps that can be taken to prevent funds being received by a party that may soon become insolvent (which risks creditors being left without a satisfactory remedy once a dispute is resolved).
On 3 December 2025, the Official Gazette published Law no. 202/2025 that amends and supplements Law no. 213/2015 on the Insureds Guarantee Fund (FGA) and Law no. 85/2014 on insolvency prevention and insolvency proceedings.
These amendments significantly recalibrate the institutional design, financing toolkit, and cross-border coordination of Romania’s insurance guarantee scheme, with particular emphasis on the handling of motor third party liability (MTPL) insurance claims and alignment with the EU framework introduced by Directive 2021/2118.
Der IDW S 16 ist da! Wie Unternehmen bestandsgefährdende Entwicklungen früher erkennen und Haftungsrisiken vermeiden – jetzt sind Frühwarnsysteme Pflicht.
There were 64 filings under the Companies’ Creditors Arrangement Act (Canada) in 2023, which is an approximately 64% year-over-year increase. While this surge is interesting in and of itself, we believe that the volume of 2023 CCAA filings is also notable for the rich data it makes available to insolvency professionals. We used this opportunity to better understand how the CCAA was being employed by reviewing each filling.
In a recent case involving Mantle Materials Group, Ltd. (2023 ABKB 488, “Mantle“), the intersection of environmental obligations and insolvency law in Canada has again come into sharp focus.
The stakes in the appeal from a recent case in Alberta, Qualex-Landmark Towers Inc v 12-10 Capital Corp (“Qualex”) are rising with the recent decision of the Court of Appeal of Alberta granting leave to intervene to the Canadian Bankers Association [Qualex-Landmark Towers Inc v 12-10 Capital Corp, 2023 ABCA 177]. The Canadian Bankers Association sought leave to intervene on the basis that the decision in Qualex creates significant uncertainty for secured lending, particularly where the borrower may have environmental remediat
Lenders beware, Canada is one step closer to establishing a framework that will provide significant enhanced protections for suppliers of perishable food items. Bill C-280, or the Financial Protection for Fresh Fruit and Vegetable Farmers Act (the “Act”), has passed the Second of Three Readings in the House of Commons.
The Canadian Parliament has enacted (subject to the final stage of Royal Assent) significant changes to federal insolvency legislation, elevating the priority that must be provided to fund the deficit of a defined benefit pension plan when distributing debtor assets. Bill C-228, the Pension Protection Act (the “Act”), is an Act to amend the Bankruptcy and Insolvency Act (“BIA”), the Companies’ Creditors Arrangement Act (“CCAA”) and the Pension Benefits Standards Act, 1985.
Many cryptocurrency lenders have declared bankruptcy. These loss events are indicators of the significant losses the cryptocurrency market has experienced this year.
For investors who have suffered, an important consideration is how to capitalize on these losses. Accordingly, this article will analyze the recent Celsius Network (“Celsius”) bankruptcy and the tax strategy of writing off bad debt.
The Celsius Bankruptcy