La Ley Concursal define insolvencia como la incapacidad del empresario para cumplir regularmente con sus obligaciones exigibles.
The UK Government has issued secondary legislation extending the period of applicability of certain temporary provisions of the Corporate Insolvency and Governance Act 2020 (“CIGA”).
Analizamos la Ley 3/2020, de 18 de septiembre, de medidas procesales y organizativas para hacer frente al COVID-19 en el ámbito de la Administración de Justicia para comprobar qué hay nuevo y qué ha cambiado esta nueva regulación respecto a la norma que la precedió, el RDL 16/2020 publicado durante la primera oleada de la pandemia.
InTelnic Ltd v Knipp Medien und Kommunikation GmbH [2020] EWHC 2075 (Ch), Sir Geoffrey Vos sitting in the English High Court ruled that where a debt is governed by an arbitration agreement, it is appropriate for the Court to stay or dismiss a winding up petition without investigating whether the debt is disputed in good faith and on substantial grounds.
This case provides guidance on the high threshold a creditor will have to cross in order to be able to present a winding up petition for sums due under an agreement with an arbitration clause.
En un post anterior, les informábamos sobre la aprobación de la Norma Foral 6/2020, que, entre otras medidas, armonizaba para determinadas operaciones el régimen de neutralidad fiscal vizcaíno con la regulación de Territorio Común.
On 1 August 2020, amendments to Act XLIX of 1991 (the Insolvency Code) are scheduled to come into force, which have been designed to promote the cooperation between debtors and creditors in bankruptcies and allow for the use of electronic communications in insolvency procedures.
The key changes contained in the amendments include the following:
Pre-emption right for the Hungarian state
Law nº 75/2020, published in the Official Gazette in November 27, 2020, and in force from November 28, 2020 to December 31, 2021, has established the following:
a) An exceptional temporary regime for extending the period for concluding the negotiations undertaken with a view to the approval of the recovery plan or payment agreement, and granting an adjustment period for the insolvency plan proposal, within the scope of the COVID -19 pandemic.
Como ya hiciera la Comisión Europea con su instrumento de liquidez para apoyo a la solvencia (Solvency Support Instrument) lanzado a finales de mayo y cuyos rasgos generales se describen aquí, el Gobierno de España ha creado, mediante el Real Decreto-ley 25/2020, un nuevo fondo para intentar prevenir las insolvencias
Businesses continue to face a challenging environment owing to the global COVID-19 crisis and consequent measures introduced by governments worldwide. The scope and nature of these measures is constantly evolving, with the focus now shifting to an easing of restrictions and facilitating a bounce back of the economy. As part of their response to such measures, businesses will be continuing to look at how best to deal with potential contractual disputes, or considering if some contracts can be terminated.
The UK has introduced a new restructuring tool, the Restructuring Plan, which when coupled with other provisions of the new law creates the possibility of the management of a company in financial difficulty remaining in control of a process designed to turn the company around as a going concern whilst in many cases having the benefit of a moratorium. Sounds a little like Chapter 11 in the US?
We examine whether the Restructuring Plan will offer aviation companies in the UK (and elsewhere?) a potential route to deal with the difficulties caused by the COVID-19 pandemic.