Background:
On 24 July 2020, the National Company Law Appellate Tribunal (NCLAT), in its decision in GRIDCO Limited v Surya Kanta Sathapathy and Others [C.A. (AT) (Insolvency) 1271 of 2019] (GRIDCO judgement), held that the termination of a Power Purchase Agreement (PPA) during the subsistence of a moratorium would be in violation of Section 14(1) of the Insolvency and Bankruptcy Code 2016 (IBC). FACTUAL BACKGROUND |
On 25 June 2020, the Corporate Insolvency and Governance Act 2020 (the Act) received Royal Assent and it now forms part of UK law. Among other provisions, the Act addresses the difficulties faced by UK companies as a result of the COVID-19 pandemic when it comes to holding meetings of shareholders and filing documents with the UK Registrar of Companies (Companies House).
The Act includes the following in relation to company meetings and filings:
Meetings
Die Geltung von Tarifverträgen kann nicht davon abhängig gemacht werden, dass die Arbeitsvertragsparteien mit einer Bezugnahmeklausel auf die Tarifverträge verweisen.
Das BAG hat entschieden, dass die Tarifvertragsparteien in Tarifverträgen nicht vereinbaren können, dass trotz beiderseitiger Tarifgebundenheit von Arbeitnehmer und Arbeitgeber die Ansprüche aus einem Tarifvertrag nur dann bestehen sollen, wenn die Arbeitsvertragsparteien den Tarifvertrag durch eine Bezugnahmeklausel individualvertraglich nachvollziehen.
El RDL 16/2020 de 28 de abril y el Texto Refundido de la Ley Concursal, que entrará en vigor el 1 de septiembre de 2020, han suscitado numerosas cuestiones, a la vista de la situación compleja que previsiblemente se avecina. Para abordar, desde un punto de vista práctico y ágil, las principales novedades que plantean, Bird & Bird celebró el pasado 30 de junio un webinar, bajo el título Principales novedades en materia preconcursal y concursal a raíz del RDL 16/2020 y el nuevo Texto Refundido de la Ley Concursal.
The Corporate Insolvency and Governance Act 2020 (the "Act") represents big changes to the current insolvency legislative framework and potentially to companies who may be affected by an insolvency within their supply chain. It will introduce new protections for insolvent companies against creditors wishing to exercise termination rights within supply contracts and against more aggressive creditor action.
In a significant judgment dated 9 June 2020 titled ‘Indus Biotech Private Limited v.
Introduction
Background
Ever since the Hon’ble Finance Minister of India announced the suspension of initiation of corporate insolvency under the Insolvency and Bankruptcy Code 2016 (IBC) in wake of the COVID-19 pandemic, there have been several market speculations about the nature and extent of the proposed suspension and its implications. With the promulgation of the amendment ordinance to IBC, most of these speculations have been put to rest, however owing to the language of the Ordinance, a new set of issues may have arisen.