Report contents:

Banking & Finance Aktuelle Informationen des Geschäftsbereichs Banking & Finance News from the Banking & Finance practice Juli/July 2015 4 | Editorial Fokus 6 | BaFin erlaubt regulierten Fonds die direkte Kreditvergabe 8 | Immer wieder Restrukturierung von Anleihen 10 | Zur Verwertung von mit fremden Marken gekennzeichnetem Sicherungsgut durch den Sicherungsnehmer und der Bedeutung des markenrechtlichen Erschöpfungsgrundsatzes, §24 Abs.

The Nutter Bank Report is a monthly electronic publication of the firm’s Banking and Financial Services Group and contains regulatory and legal updates with expert commentary from our banking attorneys.

Banking & Finance
Aktuelle Informationen des
Geschäftsbereichs Banking & Finance
News from the Banking & Finance practice
Dezember / December 2014

Introduction
No violation of ban on dismissals
Reasons for dismissals
Comment

Introduction

Banking & Finance
Aktuelle Informationen des
Fachbereichs Banking & Finance
News from the Banking & Finance practice
Juli / July 2014
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On April 11, 2014, the United States Court of Appeals for the First Circuit rendered an important decision regarding the long-running bankruptcy case of SW Boston Hotel Venture LLC (“SW”), the developer of the W Boston Hotel. This Advisory focuses on two key rulings made by the First Circuit: (i) when an oversecured creditor’s claim for post-petition interest in a debtor’s chapter 11 case begins to accrue and (ii) how such post-petition interest should be calculated in the instances where it is due.

The OCC has issued guidance to clarify supervisory expectations for national banks and federal savings associations in situations where secured consumer debt is discharged under Chapter 7 bankruptcy proceedings. The guidance issued on February 14 in OCC Bulletin 2014-4 describes the analysis necessary to “clearly demonstrate and document that repayment is likely to occur” to avoid the charge-off that would otherwise be required by the OCC’s Uniform Retail Credit Classification and Account Management Policy.

Government bonds were long considered a safe investment that offered the potential for high returns. However, after Argentina announced in 2002 that it would no longer service its bond debt and after Greece restructured its sovereign debt in March and December 2012, the question arises as to what investors can do to avoid the significant losses of capital (up to 70% in case of Argentina and over 80% in case of Greece) which almost always accompany sovereign debt restructurings.

The Federal Court of Justice (BGH) continued with its extensive interpretation of the rules for contesting transactions under insolvency law in a judgment dated 21 February 2013 (BGH IX ZR 32/12). In the case before the court, direct shareholder A in company T sold a claim under a loan to B at below par value. Following assignment, T repaid the loan to B at the nominal amount plus interest. Insolvency proceedings were opened around two months later in relation to T’s assets. The BGH’s decision covers three aspects: