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  1. Why use an electronic signature?

In response to the anticipated economic impact of the Covid-19 pandemic, on 31 March 2020 the Czech Government approved the so-called ‘Lex COVID-19’ and sent the draft law to the Parliament for expedited legislative processing. This article focuses on the implications of the Lex COVID-19 on the insolvency proceedings in the Czech Republic. For wider implications of the Lex COVID-19, please see this article.

On 31 March 2020, the Czech government approved ‘Lex COVID-19’, a new act (and an amendment of the Insolvency Act and Enforcement Code) that should help mitigate certain effects caused by the COVID-19 epidemic, especially in relation to different proceedings (e.g. civil, administrative, criminal, insolvency and enforcement) and the corporate lives of legal entities.

Lex COVID-19 will now be debated in the Chamber of Deputies ahead of final approval.

On Saturday (28 March 2020) the UK Government announced certain changes to insolvency laws in response to COVID-19, intended to help companies and directors.

There are two aspects to the changes:

  1. Retrospective suspension or relaxation of wrongful trading

  2. New restructuring procedure and new temporary moratorium

Introduction

On Saturday (28 March 2020) the UK Government announced certain changes to insolvency laws in response to COVID-19, intended to help companies and directors.

There are two aspects to the changes:

Correct as of 16.00 on 24 March 2020. This article is being maintained.

The global COVID-19 outbreak is presenting businesses with unprecedented challenges. In the last two weeks the UK Government has announced a raft of COVID-19 liquidity and tax assistance measures for businesses and individuals.

Last September we reported on the Court’s decision on the landlords’ challenge to the Debenhams CVA on grounds of unfair prejudice and material irregularity, in respect of which the landlords have now successfully obtained permission to appeal on various grounds (see below).

En 2019, les tribunaux canadiens, dont la Cour suprême du Canada, ont rendu un certain nombre de décisions qui présentent un intérêt pour les prêteurs commerciaux et les spécialistes des dossiers de restructuration. Le présent article propose, pour chacune de ces affaires, un résumé des enjeux d’importance.

Introduction

The decision of ICC Judge Barber in the case of Stephen Hunt & System Building Services Group Limited -v- Brian Michie & System Building Services Group Limited [2020] EWHC 54 (Ch) was recently handed down and it is an interesting decision about directors’ duties post the appointment of an administrator or liquidator.

Facts

The facts are quite involved and matter specific, and gave rise to a number of issues, but for present purposes the key issues are as follows.