FEB 28, 2018 ISSUE 8/2018 FINANCIAL REGULATORY DEVELOPMENTS FOCUS Proxima Nova A ExCn 35pt In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website. IN THIS ISSUE Bank Prudential Regulation & Regulatory Capital ..............................................................................................
On 6 November 2017 the BVI Commercial Court, sitting in St Lucia, placed Sherbrooke Group Limited (Sherbrooke) into liquidation. Mark McDonald and Michael Leeds of Grant Thornton were appointed as Sherbrooke’s liquidators.
Peter Ferrer, of the British Virgin Islands office of Harneys, reviews forum shopping, Chapter 11 protection and just and equitable winding up, with an in-depth look at the Pacific Andes saga is the practice of choosing the most favourable jurisdiction in which to bring a claim. It is often used as a pejorative – a form of jurisdictional gamesmanship – but in principle, there is nothing wrong in seeking to have a case heard in the forum which is most favourable to the client.
FINANCIAL INSTITUTIONS ADVISORY & FINANCIAL REGULATORY GROUP NEWSLETTER JANUARY 10, 2018 ISSUE 1/2018 Financial Regulatory Developments Focus In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website.
FINANCIAL INSTITUTIONS ADVISORY & FINANCIAL REGULATORY GROUP NEWSLETTER DECEMBER 21, 2017 Financial Regulatory Developments Focus In this week’s newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website.
FINANCIAL INSTITUTIONS ADVISORY & FINANCIAL REGULATORY GROUP WEEKLY NEWSLETTER DECEMBER 6, 2017 Financial Regulatory Developments Focus In this week’s newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website.
On October 20, 2017, the United States Court of Appeals for the Second Circuit issued a decision which, among other things,[1] affirmed the lower courts’ holding that certain noteholders were not entitled to payment of a make-whole premium. The Second Circuit held that the make-whole premium only was due in the case of an optional redemption, and not in the case of an acceleration brought about by a bankruptcy filing.
On October 20, 2017, the United States Court of Appeals for the Second Circuit issued an important decision regarding the manner in which interest must be calculated to satisfy the cramdown requirements in a chapter 11 case.[1] The Second Circuit sided with Momentive’s senior noteholders and found that “take back” paper issued pursuant to a chapter 11 plan should bear a market rate of interest when the market rate can be ascerta
On October 3, 2017, Bankruptcy Judge Laurie Selber Silverstein of the United States Bankruptcy Court for the District of Delaware issued a decision holding that the Bankruptcy Court had constitutional authority to approve third-party releases in a final order confirming a plan of reorganization.
`Forum shopping' is the practice of choosing the most favourable jurisdiction in which a claim could be heard. It is often used as a pejorative, a form of jurisdictional gamesmanship, but, in principle, there is nothing wrong in seeking to have the case heard in the forum which is most favourable to the client. It can however lead to some fierce jurisdictional battles particularly in insolvency where the choice can be stark between debtor and creditor friendly procedures.