The Sapin II Act of November 8 2016 amended the regime governing directors' liability in an insolvency scenario in order to encourage the recovery of honest directors of failed businesses.
Section 523(a)(2) of the Bankruptcy Code is clear that a debtor can discharge a debt for money obtained by a false statement respecting the debtor's financial condition unless that statement is in writing. What has not been clear is whether a debtor's false oral statement regarding a single asset is a "statement respecting the debtor's financial condition" that falls within the ambit of 523(a)(2)(A). If so, debts obtained by such a false oral statement would be dischargeable. If not, then creditors could seek to have such fraudulently obtained debts excepted from discharge.
In november 2016 is door de Hoge Raad bevestigd dat de vernietiging van een faillissement geen effect heeft op door een curator voordien verrichte beschikkingshandelingen. De curator kan rechtshandelingen verrichten tot het moment waarop de vernietiging in kracht van gewijsde is gegaan. Wel dient de curator terughoudend gebruik te maken van zijn bevoegdheden gedurende de periode waarin een vonnis tot faillietverklaring is vernietigd, maar deze vernietiging nog niet onherroepelijk is geworden.
Juridisch kader
Lender's Security Interest in Funds Lost Upon Transfer to Debtor's Counsel
De kwaliteit van de debiteurenportefeuille is van belang voor de beoordeling van de vraag of een tussentijds dividendbesluit door de beugel kan. Dat blijkt uit een uitspraak van de Hoge Raad d.d. 23 september 2016.
Hierna volgt een korte bespreking van een arrest dat met name van belang is voor de praktijk. Een praktijk waarin curatoren steeds vaker geconfronteerd worden met ICT-leveranciers die zich opstellen als dwangcrediteuren (ik roep Oilily in herinnering), maar niet onder de reikwijdte van artikl 37b Fw vallen.
The latest piece in the jigsaw of Hong Kong's corporate winding-up regime is the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 ("Amendment Ordinance"), which enters into legal effect as of today, 13 February 2017.
Imagine that while a bankruptcy case is pending, the debtor-in-possession or bankruptcy trustee files a state law claim against one of the estate's creditors. Presumably, if the debtor wins its state law claim, that recovery augments the bankruptcy estate and increases the amount available to pay the debtor's creditors.[1] The creditor, seeking to avoid litigating the action in the debtor's home state court, timely removes the lawsuit to federal court as permitted under 28 U.S.C.
In an order issued today, Judge Dalton of the Middle District of Florida held that in a non-bankruptcy context, allegations that collection of a mortgage debt is barred by the statute of limitations do not form a “plausible basis” for claims under the Fair Debt Collection Practices Act, the Florida Consumer Collection Practices Act, or the Declaratory Judgment Act.
Introduction
On November 8 2016 Parliament adopted the Sapin II Act to promote:
- transparency;
- the fight against corruption; and
- the modernisation of the economy.
The act authorises the government to make decisions regarding legislative matters, including with regard to clarifying and modernising the status of security agents and their role in restructurings.