The Irish Government is planning to take measures in the areas of settlement finality, insurance, and insurance distribution in the event of a 'no-deal Brexit'. The relevant measures are set out in Parts 7 and 8 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019 (the “Withdrawal Bill”), which was published on 22 February 2019. These measures are in addition to a number of measures already taken at EU level.
Settlement Finality
Certainty is a key element in any business planning. For corporate restructuring practitioners who are planning or working on cross border transactions, the uncertainty relating to Brexit and the departure of the United Kingdom from the European Union ("EU") may have long-term significant consequences and a "no-deal" Brexit (without a withdrawal agreement and the certainty of a transition period) will have immediate and significant consequences for any such cross-border transaction.
Certainty is a key element in any business planning. For corporate restructuring practitioners who are planning or working on cross border transactions, the uncertainty relating to Brexit and the departure of the United Kingdom from the European Union (“EU”) may have long-term significant consequences and a “no-deal” Brexit (without a withdrawal agreement and the certainty of a transition period) will have immediate and significant consequences for any such cross-border transaction.
The Dutch Supreme Court today confirmed the decision of the Amsterdam Court of Appeals which found that the bankruptcy of Russian oil company Yukos cannot be recognised in the Netherlands because it came about in a manner which violates Dutch public policy. Today's decision marks the end of a court battle that lasted more than a decade.
28 November 2018
NautaDutilh
Recovery and Resolution (Insurers) Act
FCS Financial Law
Claiming damages for the loss/harm sustained by a lessor as a result of the lessee’s insolvency (i.e. ”loss owing to vacancy” [leegstandschade]) is an issue that comes up again and again. The Dutch Supreme Court has rendered a series of rulings on this matter, the most recent of which dates from 17 February 2017. On 3 July 2018, the Court of Appeal in The Hague delivered its judgment after the case had been referred back to it.
On 18 January 2017, EU Regulation n°655/2014 establishing a European Account Preservation Order ("EAPO") procedure became fully applicable in all Member States, with the exception of Denmark and the United Kingdom. |
De Raad voor Onroerende Zaken ("ROZ") heeft op 4 juni 2018 een nieuw model voor de bankgarantie gepubliceerd. Het model voor de bankgarantie en de handleiding daarbij zijn te downloaden via de website van de ROZ.
The Government has approved the drafting of the Courts and Land and Conveyancing Law Reform Bill 2018. The Bill is intended to give additional protection to home owners with mortgage difficulties.
The origins of the new Bill lie in the Keeping People in their Homes Bill, a Private Member’s Bill from early 2017. The new Bill will amend the Land and Conveyancing Law Reform Act 2013 to deal with circumstances where an insolvency remedy is not available to a borrower pursuant to the 2013 Act.
Over the past few years, the Belgian legislature has consolidated various pieces of legislation regulating businesses into a single instrument: the Code of Economic Law (Wetboek van economisch recht/ Code de droit économique). Insolvency law has not escaped this trend. In the summer of 2017, the Belgian Parliament enacted Book XX of the Code of Economic Law, entitled "Insolvency of Undertakings" (hereinafter the "Insolvency Code").