In an important Court of Appeal (CoA) decision handed down on 1 March 2017, the CoA has clarified the position for banks, lenders and insolvency practitioners regarding realisation of assets after certificates of completion have been issued in individual voluntary arrangements (IVAs).

On 18 January 2017, Regulation (EU) No 655/2014 (the "Regulation") will become fully applicable. It will henceforth be possible to obtain in any EU Member State, with the exception of Denmark and the United Kingdom, a preservation order for bank accounts of a debtor situated in another Member State.

The Regulation introduces at the European level a certain degree of transparency in terms of the debtor's assets.

Earlier intervention in case of distress to preserve value and save jobs. That is the goal of the proposed 'EU Business Restructuring Directive', which was presented yesterday by the European Commission and aims to ensure a minimum harmonization of restructuring procedures within the European Union.

Under the Act of August 10 2016 modernising the Company Law 1915 (which entered into force on August 23 2016) Luxembourg law now officially recognises that companies can be wound up by means of a simplified procedure. This is an unquestionably useful tool which will further enhance Luxembourg's business-friendly reputation.

Thanks to the Act of 10 August 2016 modernizing Luxembourg company law, which entered into force on 23 August 2016 (the “New Act”), the Grand Duchy now officially recognizes the possibility for companies to be wound up by means of a simplified procedure. This is unquestionably a useful tool which will further enhance Luxembourg's business-friendly reputation.

Op 13 juli 2016 zijn de consultatieversies van het wetsvoorstel Wet herstel en afwikkeling van verzekeraars (het "Consultatie Wetsvoorstel") en bijbehorende memorie van toelichting ("MvT') gepubliceerd. De consultatieperiode is op 28 augustus 2016 gesloten. Met het Consultatie Wetsvoorstel beoogt de minister het wettelijk kader voor herstel en afwikkeling van verzekeraars te versterken.

Per 1 juli 2016 worden een viertal nieuwe wetten ingevoerd die van belang zijn voor bestuurders en ondernemingen.

On 1 July 2016 four important new laws applicable to businesses and directors will enter into effect.

De verjaringstermijn van na faillietverklaring vervallende rentevorderingen neemt pas een aanvang na het eindigen van het faillissement. Dat heeft de Hoge Raad op 24 juni 2016 geoordeeld in het arrest Boele's Scheepswerven II. Schuldeisers hoeven de verjaring van rentevorderingen gedurende een (eerste) faillissement dan ook niet te stuiten.

In the week that Leicester City overcame odds of 5000/1 to be crowned Premier League champions, the insurance market was (almost) as astounded at the news that the long-awaited Third Parties (Rights Against Insurers) Act 2010, which received Royal Assent on 25 March 2010, will be coming into force on 1 August 2016.