The EU Commission has presented a draft directive on the mandatory inclusion of a "pre-pack proceeding" in national insolvency laws.
On 7 December 2022, the European Commission published a draft directive harmonising certain aspects of insolvency law with the aim of facilitating distressed M&A by reducing legal uncertainties in cross-border transactions.
The lack of harmonised insolvency laws has long been regarded as one of the greatest obstacles to the free movement of capital in the EU in general and to cross-border investments, insolvency proceedings and restructuring in particular.
Die EU-Kommission hat einen Richtlinienentwurf u.a. zur verpflichtenden Aufnahme eines „Pre-pack-Verfahrens“ in die nationalen Insolvenzgesetze vorgelegt.
Die Entscheidung des BGH zur Wirksamkeit insolvenzabhängiger Lösungsklauseln könnte der Grundstein einer neuen Linie in der Rechtsprechung werden.
Close economic ties and interdependence between the US and Canada have been bolstered by free trade policies and intensified global competition, paving the way for continued opportunities for US businesses to tap into the Canadian market. These opportunities have resulted in an active cross-border lending market. In light of this, US lenders who are lending into Canada may encounter, and should be aware of, Canadian-specific legal issues and considerations.
A recent Alberta case continues the development of a line of cases at the intersection of environmental protection and bankruptcy and insolvency law in Canada.
In the recent decision of Chin v Beauty Express Canada Inc. (“Chin”), the Ontario Superior Court of Justice considered the impact of an employee’s service with a prior employer on the employee’s entitlement to reasonable notice of termination.
A recent decision of the Ontario Court of Appeal invalidated an arbitration and forum selection clause in a commercial agreement in favour of having a dispute between the debtor and its former customer adjudicated within a receivership proceeding.
Reverse vesting orders (or “RVOs”) have become an increasingly popular and useful tool for maximizing recovery in complex insolvencies in Canada, particularly in circumstances where traditional alternatives of asset sales or restructuring plans are not effective or practical. RVOs are very attractive to purchasers of distressed businesses because they can efficiently preserve the value of permits, tax losses and other assets which cannot be easily transferred to a purchaser through an asset transaction.
On December 10, 2021, the Supreme Court of Canada (“SCC”) rendered its decision in Montréal (City) v.