Service area / Restructuring and Insolvency
Location / British Virgin Islands
Date / February 2019
This article considers how to challenge an act, omission or decision of an office-holder.
The right to bring a challenge derives from Section 273 of the BVI Insolvency Act 2003, which provides:
A person aggrieved by an act, omission or decision of an office holder may apply to the Court and the Court may confirm, reverse or modify the act, omission or decision of the office holder.
El Tribunal Constitucional ha declarado inconstitucional una disposición de una ley del Parlamento de Cataluña que permitía que, en caso de venta a un tercero (habitualmente un fondo) de un crédito garantizado con vivienda, el deudor pudiera liberarse de su deuda pagando al comprador de la deuda exclusivamente el precio que éste había pagado (más los intereses legales y gastos causados por la reclamación).
The Constitutional Court has held unconstitutional a provision in a law passed by the Catalan parliament which, if a loan secured with a home is sold to a third party (a fund usually), allowed the debtor to be released from their debt by paying the buyer out of the debt only the price the buyer had paid (plus the statutory interest and costs caused by the claim).
Zone of insolvency - directors in the firing line
Happy New Year?
2018 saw a number of high profile insolvencies around the world, including in Guernsey. The climate for many sectors remains extremely challenging with the UK further hindered by continuing uncertainty around Brexit. EY's Profit Warning Stress Index hit its joint highest level for two years in the third quarter of 2018 with 68 UK quoted companies issuing profit warnings.
En una reciente resolución, la DGRN trata de equilibrar el necesario rigor que debe presidir nuestro sistema registral con la adecuada agilidad y seguridad jurídica que requieren los adquirentes de bienes cuando se ha declarado la insolvencia.
La Dirección General de los Registros y del Notariado (DGRN) ha relajado los requisitos de inscripción de los bienes adquiridos durante el procedimiento concursal y, señaladamente, durante la fase de liquidación. Así lo señala en una resolución de 24 de octubre de 2018.
The DGRN is seeking to strike a balance between the necessary rigor that must prevail in the Spanish registration system and the legal certainty needed for the recipients of assets during insolvency proceedings.
In a decision rendered on October 24, 2018, the Directorate-General for Registers and the Notarial Profession (DGRN) relaxed the requirements for registration of assets acquired during insolvency proceedings, and specifically, during the liquidation phase.
Selección de las principales resoluciones en materia de Reestructuraciones e Insolvencias.
Nulidad de un despido colectivo realizado en la sucursal española de una sociedad sometida a un procedimiento de insolvencia alemán
Sentencia de la Sala de lo Social de la Audiencia Nacional de 30 de abril de 2018
Collective layoff voided at Spanish branch of a company subject to German insolvency proceedings
Judgment by the National Appellate Court (Labor Chamber) on April 30, 2018
An insolvency order by a German court on a company does not in itself authorize that company to carry out a collective layoff at its Spanish branch. The German company should have petitioned for a local insolvency proceeding on its Spanish branch to obtain authorization from the judge hearing the Spanish insolvency proceeding to conduct the collective layoff at its branch.
The Court of Appeal of Jersey has now considered in an appeal against the Royal Court’s decision of 10 January 2018 the case of a UK trustee in bankruptcy (the “Trustee”), whose appointment had been recognised in Jersey by order of the Court and who had been authorised to obtain documents and/or information for particular purposes, who was later subject to coercive measures in his home jurisdiction requiring the disclosure of such material for different, unauthorised purposes (in this case an Information Notice issued by HMRC pursuant to Schedule 36 of the UK Finance Act 2008 (the “
Selección de las principales resoluciones en materia de Reestructuraciones e Insolvencias.
No toda venta de unidad productiva en el seno de un concurso es una operación no sujeta a IVA
Sentencia del Tribunal Económico Administrativo Central de 21 de marzo de 2018