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?

On 24 March, HMRC published a summary of responses to the December consultation on Company Distributions, together with details of the Government's position on the issues raised. The December consultation was covered in my 3 February blog.

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.

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.