The Act of 17 December 2021 has extended the transitional measures provided for by the Act of 23 September 2020 until 31 December 2022. In practice, Luxembourg-based companies can hold either virtual board and shareholder meetings, even if their articles of association provide otherwise, or physical meetings if they respect the applicable sanitary conditions.
Exploring the bounds of concreteness and traceability following the Supreme Court’s landmark decision in TransUnion LLC v. Ramirez, the Sixth Circuit in Krueger v. Experian, et al. recently reversed a grant of summary judgment in favor of a lender in a Fair Credit Reporting Act (FCRA) case, finding that the plaintiff had a sufficiently concrete injury to support Article III standing.
The Paycheck Protection Program (“PPP”) was a forgivable loan program administered by the US Small Business Administration (“SBA”) that was created as part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020. The PPP ended on May 31, 2021. Since the passage of the CARES Act, litigation has ensued over whether companies in bankruptcy are eligible to receive PPP loans.
The Belgian legislature once again recently improved the statutory framework for business restructuring. Thus, any business - a broad concept that covers not only companies and non-profits but also independent contractors - in financial difficulty may request the opening of judicial reorganisation proceedings (procédure en réorganisation judiciaire), commonly referred to by insiders as "PRJ".
The Dutch Supreme Court today confirmed the decision of the Amsterdam Court of Appeals which found that the bankruptcy of Russian oil company Yukos cannot be recognised in the Netherlands because it came about in a manner which violates Dutch public policy. Today's decision marks the end of a court battle that lasted more than a decade.
28 November 2018
NautaDutilh
Recovery and Resolution (Insurers) Act
FCS Financial Law
Claiming damages for the loss/harm sustained by a lessor as a result of the lessee’s insolvency (i.e. ”loss owing to vacancy” [leegstandschade]) is an issue that comes up again and again. The Dutch Supreme Court has rendered a series of rulings on this matter, the most recent of which dates from 17 February 2017. On 3 July 2018, the Court of Appeal in The Hague delivered its judgment after the case had been referred back to it.
On 18 January 2017, EU Regulation n°655/2014 establishing a European Account Preservation Order ("EAPO") procedure became fully applicable in all Member States, with the exception of Denmark and the United Kingdom. |
De Raad voor Onroerende Zaken ("ROZ") heeft op 4 juni 2018 een nieuw model voor de bankgarantie gepubliceerd. Het model voor de bankgarantie en de handleiding daarbij zijn te downloaden via de website van de ROZ.
Over the past few years, the Belgian legislature has consolidated various pieces of legislation regulating businesses into a single instrument: the Code of Economic Law (Wetboek van economisch recht/ Code de droit économique). Insolvency law has not escaped this trend. In the summer of 2017, the Belgian Parliament enacted Book XX of the Code of Economic Law, entitled "Insolvency of Undertakings" (hereinafter the "Insolvency Code").