Judgment of the Supreme Court of Justice No 15/2014, published in Diário da República (Portuguese official gazette) No 24 of 2014-12-22
Insolvency – Insolvency Administrator – Presumption of bad faith
Portaria (Ordinance) No 261/2014 - Diário da República (Portuguese official gazette) No 242/2014, Series I of 2014-12-16
Amending for the first time the Regulation of the Local Support and Micro-company Incentive Scheme.
Reviewing the legal framework of urban lease.
Judgment of the Court of Appeal of Porto of 2014-11-06
Insolvency proceedings – Creditors of the insolvent debtor – Termination of proceedings – No need to adjudicate on the action
A consultation process to update the insolvency laws and practices in Guernsey has been launched by a government department in the island with businesses, industry bodies, lawyers and insolvency practitioners being invited to respond to the process before 31 December 2014.
David Jones a restructuring and insolvency expert from Carey Olsen was invited to participate as part of the Commerce and Employment Department’s working party that reviewed the laws which raise a number of key areas for change.
The Official Journal of the European Union of July 31, 2014, published the European Commission Guidelines establishing the conditions under which state aid for rescuing and restructuring non-financial undertakings in difficulty can be considered compatible with the domestic market. The Commission has been applying these Guidelines since August
The lender’s credit in respect of the joint-and-several guarantor declared insolvent is contingent unless existence of p
Rescission of an extension to a mortgage granted by the insolvent company securing a preexisting debt of a company of its group
A composition agreement was approved involving the merger of some of group’s companies and with different alternatives, one of which is specifically designed for financial institutions, but open to all creditors, proposing a partial capitalization of the insolvency credits and the payment of the resulting credits through the realization of certain assets and the free cash flow generated by the company in the coming eight years.
First decisions on the court-sanction of refinancing agreements and extension of effects to dissenting entities under the new text of the Fourth Additional Provision, and analysis of the concept of disproportionate sacrifice when there is opposition to the agreement
On October 1, 2014, the Official Gazette of the Spanish State (“BOE”) published Act 17/2014, on urgent measures for refinancing and restructuring corporate debt (“Act 17/2014”). This act arises from Royal Decree-Law 4/2014, of March 73 (“Royal Decree-Law 4/2014”), which was approved by the Spanish Congress of Deputies and subsequently processed as a draft bill through the urgent procedure.