Right to carry out profit-making activities without limitation

Under the regime provided for by the Belgian law of 27 June 1921 (the Law of 1921), INPAs are prohibited from carrying out industrial or commercial operations unless the latter remain ancillary to their non-profit activities.

The liability of directors of major organisations receives wide coverage in the press. Examples (in the Netherlands) are Imtech, HDI, FC Twente, Vestia, and Meavita. But the subject really concerns directors of all legal entities, large and small. In this issue of Quoted, we refresh your knowledge of directors' liability and address recent developments, such as case law on `corporate directors' (legal entities which are appointed directors of other entities), the Bill for Management and Supervision of Legal Entities and the General Data Protection Regulation (GDPR).

In de pers gaat het veelal over de aansprakelijkheid van bestuurders van grotere organisaties zoals Imtech, HDI, FC Twente, Vestia en Meavita. In werkelijkheid gaat dit onderwerp bestuurders aan van alle rechtspersonen: van groot tot klein. Met deze Genoteerd frissen wij uw kennis op over de aansprakelijkheid van bestuurders. Wij staan ook stil bij belangrijke relevante recente ontwikkelingen, zoals rechtspraak over de zogeheten rechtspersoon-bestuurder, het Wetsvoorstel bestuur en toezicht rechtspersonen en de Algemene verordening gegevensverwerking.

Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song “Rain on the Scarecrow” discussed the epidemic of family farm foreclosures hitting the American Heartland. Thankfully, the overall family farm economy is not at that crisis level today, but storm clouds are rumbling.

Congress approved, and earlier this month the President signed, the Small Business Reorganization Act of 2019 which streamlines existing rules governing the efforts of small businesses to restructure successfully under Chapter 11 of the Bankruptcy Code. The law effectively makes it more difficult for creditors to contest small business Chapter 11 cases, but it also provides creditors in all bankruptcy cases several major benefits through changes to the preference laws.

Subchapter V of Chapter 11.

Military veterans often pay a heavy toll for their service from a physical, emotional and even financial standpoint. A new federal law— the Honoring American Veterans in Extreme Need Act of 2019 or the HAVEN Act— aims to address the latter hardship, providing disabled military veterans with greater protections in bankruptcy proceedings.

Anyone who hasn’t heard about the “student loan crisis” in the U.S. hasn’t been paying attention. U.S. student loan debt is estimated to range from between $1.2 and $1.6 trillion with more than seven million borrowers in default. On an individual level, a graduate of a four-year college who took out a loan to get through currently owes, on average, $28,000. Average debt for a student who completed graduate school, as you would expect, is greater, and can range from $50,000 to more than $100,000.

This article originally was published in the February 2019 issue of the ABI Journal.

A recent ruling in the Pacific Gas and Electric Company (PG&E) bankruptcy proceeding highlights the risk to certain renewable energy projects from utility bankruptcy. In a June 7, 2019 ruling, the PG&E bankruptcy court denied the claim that Federal Energy Regulatory Commission (FERC) must approve any attempt by bankruptcy courts to reject (i.e., void) power project agreements (PPAs) between renewable project owners and utilities. This is in direct opposition to a FERC ruling that it does have this power.

Op 7 juni 2019 heeft de Hoge Raad uitspraak gedaan in een procedure over de niet-voortzettingseis in de liquidatieverliesregeling die Loyens & Loeff namens een cliënt heeft gevoerd tegen de Belastingdienst.