Today is the closing date for responses to a Government consultation on the tax treatment of company distributions.  You can read the consultation document here.

The direction of travel, per the consultation, is clear.  Anyone thinking of liquidating their company should consider these new rules carefully.

With the cyclical fluctuation in oil and gas commodity prices, the UKCS has had its fair share of E&P companies going insolvent. As the UKCS matures, the profile of companies that invest in the region is changing. Many smaller parties, potentially with less access to capital, are now building positions.  The commercial exposure is that some companies will not be able to meet cash calls, creating headaches for their co-venturers.

As a general rule, lodging an appeal against a judgment no longer suspends its enforceability. This should accelerate the recovery of outstanding debt in Belgium.

Recovering outstanding debt in Belgium can feel like a long-winded and sometimes frustrating job. A creditor who obtained a judgment against a defaulting debtor is often confronted with an appeal by that debtor, lodged with the only intention to put the enforcement of this judgment on a back burner. Most courts of appeal built up a large backlog as a result of the massive workload of among others these dilatory appeals.

Ruim zes jaar na het faillissement van het Meavita-concern heeft de Ondernemingskamer zich op 2 november jl. in harde bewoordingen uitgelaten over het handelen van bestuur en toezichthouders. De uitspraak volgt op een door de vakbonden en curatoren gestarte enquêteprocedure, waarin het beleid en de gang van zaken binnen Meavita voorafgaand aan faillissement zijn onderzocht.

Quoted October 2015 - Edition 105 Current issues relating to accounting law, article 403 liability and insolvency law 2 In this edition • Introducion • Financial reporting • Article 403 liability • Facilitating reorganisations of businesses: Dutch pre-packs and schemes 3 Fourth Directive (78/660/EEC) and the Seventh Directive (83/349/EEC) in relation to individual and consolidated accounts, and Directive 2013/50/EU, which amends a number of the provisions of the Prospectus Directive (2003/71/EC) and the Transparency Directive (2004/109/ EC). 1.

Introduction

This article looks at some of the issues a lender should consider when a borrower or security provider is incorporated or has substantial assets outside England and Wales.  The lender needs to know how this will affect its security and remedies, and the possible impact of insolvency procedures in relevant jurisdictions.