El pasado 28 de febrero la Comisión Europea publicó el Borrador de Acuerdo sobre la retirada del Reino Unido de la Unión Europea (“UE”).

On February 28 last the European Commission published the Draft Agreement on the withdrawal of the United Kingdom from the European Union (“EU”).

Garrigues detected that there was no clear guideline that allowed notaries to issue another enforceable copy of the mortgage deed to funds that had acquired NPLs.

The Directorate-General of Registries and Notaries (Dirección General de los Registros y del Notariado or DGRN) has issued an important ruling, which will enable international investors acquiring NPLs (non-performing loans) from Spanish financial institutions to speed up their recovery significantly, especially if the debts are secured with a mortgage guarantee.

FEBRUARY 2018 • SUMMARY v NEW LEGISLATION NOTIONAL PYRAMID GARRIGUES ARCHIVES CURRENT NEWS FEBRUARY 2018 - SPECIAL Nº50 (2009 - 2018) WHAT IS THE CURRENT SITUATION OF NPLs IN THE EUROPEAN UNION?

Taurus Petroleum v. SOMO [2017] UKSC 64

The Supreme Court has recently issued judgment in this matter concerning an attempt to enforce an arbitration award in London by obtaining a third party debt order over sums payable to the debtor under letters of credit issued by a London bank in respect of unrelated transactions.

Fibria Celulose S/A v. Pan Ocean [2014] EWHC 2124 (Ch)

In a significant case regarding the application of the Cross Border Insolvency Regulations 2006 (“Regulations”), the English High Court decided it would not intervene to prevent termination of an English law contract for insolvency even though such termination was inoperative or invalid under the foreign law governing the insolvency.