Amendments to the Enterprise bankruptcy law

This article contains a useful re-cap of the changes made to SIP 16 and the introduction of a pre-pack pool in November 2015. It also takes an early look at whether the pre-pack pool is working, citing some statistics on “take-up” since the pool’s inception and some examples of pre-packs to connected parties since the pool was introduced.

What is a “pre-pack”?

Introduction

A referendum on whether the UK should leave or remain within the EU will take place on 23 June 2016. This briefing considers what the legal consequences of a vote to leave the EU (Brexit) might be for the UK restructuring and insolvency market. Its purpose is not to influence readers towards either the “Leave” or “Remain” camp; rather, it is intended to illustrate the legal changes that Brexit would cause and to consider how the UK might respond to those changes.

lon_lib1\13867381\1 boothmi Navigating Regulatory Compliance Investment Management Monthly Regulatory Update March 2016 Navigating Regulatory Compliance Monthly Regulatory Update – March 2016 1. Introduction 1.1 It is our pleasure to welcome you to our first Monthly Regulatory Update for investment managers. We understand that compliance and business teams have day jobs and therefore this regulatory update provides commentary on those items which we think are important. 1.2 The Appendix lists each of the relevant announcements by the FCA, ESMA, European Parliament and other bodies.

Changes in law What’s new in the Polish law? An overview of selected changes in regulations and their impact on business Wierzbowski Eversheds | 2016 – Changes in law 2 Introduction We are pleased to present to you our brochure reviewing the changes in law that may soon have a significant impact on your business. The publication contains commentaries and analyses gathered from the perspective of what in our view may be important in 2016. The materials also reflect the issues our law firm encounters every day.

A balanced view A quarterly update from our Real Estate Dispute Resolution team Winter/ Spring 2015/2016 Real Estate Dispute Resolution Issue 12 Contents Welcome to the Winter 2015/2016 edition of Eversheds In Focus. Since our Autumn 2015 edition, the Courts have considered a number of important cases on issues ranging from break options, the legitimacy of controversial rates avoidance schemes, relief from forfeiture, specific performance of contractual obligations and what constitutes a penalty payment.

The Insolvency Service recently published official statistics showing that the number of individual insolvencies in 2015 fell to the lowest annual level for a decade (by 19% to 79,965).

The statistics also show that:

This case concerned whether a fee payable by a tenant for assigning the lease involved the provision of “credit” for the purposes of the Consumer Credit Act 1974 (CCA).

From 1 January 2016, deposits made by private individuals and small businesses to any authorised firms are protected by the Financial Services Compensation Scheme to a limit of £75,000 (previously £85,000).

Secured creditors should take note of Callidus,¹ wherein the Federal Court (the “Court”) held that the bankruptcy of a tax debtor rendered a statutory deemed trust under section 222 of the Excise Tax Act (the “ETA”) ineffective as against a secured creditor who, prior to the bankruptcy, received proceeds from the tax debtor’s assets.

Background