Op 26 mei 2020 heeft de Tweede Kamer het wetsvoorstel Wet Homologatie Onderhands Akkoord (WHOA) aangenomen. Als de Eerste Kamer dit voorstel eveneens goedkeurt, is de WHOA een feit en kunnen huurder-schuldenaars die in financiële nood verkeren onder voorwaarden wijzigingen laten aanbrengen in lopende huurovereenkomsten, of deze zelfs geheel doen eindigen. De verwachting is dat de WHOA op 1 januari 2021 in werking zal treden.
LAW & TAX Swiss Restructuring & Insolvency in a nutshell loyensloeff.com LAW & TAX Introduction Ever-changing market conditions require businesses to continuously monitor their earnings and liquidity situation as well as their debt structure. In addition, the overall economic situation remains uncertain and asks for continued operational flexibility and resilience. Thus, it is not surprising that companies need to rethink their organisational obligations in restructuring and insolvency situations.
Analizamos la Ley 3/2020, de 18 de septiembre, de medidas procesales y organizativas para hacer frente al COVID-19 en el ámbito de la Administración de Justicia para comprobar qué hay nuevo y qué ha cambiado esta nueva regulación respecto a la norma que la precedió, el RDL 16/2020 publicado durante la primera oleada de la pandemia.
En un post anterior, les informábamos sobre la aprobación de la Norma Foral 6/2020, que, entre otras medidas, armonizaba para determinadas operaciones el régimen de neutralidad fiscal vizcaíno con la regulación de Territorio Común.
Law nº 75/2020, published in the Official Gazette in November 27, 2020, and in force from November 28, 2020 to December 31, 2021, has established the following:
a) An exceptional temporary regime for extending the period for concluding the negotiations undertaken with a view to the approval of the recovery plan or payment agreement, and granting an adjustment period for the insolvency plan proposal, within the scope of the COVID -19 pandemic.
Como ya hiciera la Comisión Europea con su instrumento de liquidez para apoyo a la solvencia (Solvency Support Instrument) lanzado a finales de mayo y cuyos rasgos generales se describen aquí, el Gobierno de España ha creado, mediante el Real Decreto-ley 25/2020, un nuevo fondo para intentar prevenir las insolvencias
Recent werden twee koninklijke besluiten (KB nr. 45 en nr. 46) gepubliceerd waarin enkele bijkomende steunmaatregelen voorzien worden in het kader van de COVID-19-uitbraak. Deze voorzien enerzijds de mogelijkheid voor de opname van voltijds corona-ouderschapsverlof en anderzijds enkele nuttige maatregelen tot herverdelen van de arbeid, waaronder het corona-tijdskrediet, voor ondernemingen in herstructurering of moeilijkheden.
Uitbreiding corona-ouderschapsverlof
On 17 April 2020 the Supreme Court handed down an important interim judgment concerning the pre-pack bankruptcy of Heiploeg. In this judgment, the Supreme Court holds that the rules on the Transfer of Undertakings (as explained further below) do not apply to a restart following bankruptcy. In addition, the Supreme Court holds that the rules on the Transfer of Undertakings do not always apply in the case of a restart that has been prepared by means of a pre-pack. The Supreme Court takes the view that in the pre-pack bankruptcy of Heiploeg these rules do not apply.
The restructuring & insolvency Q&A series provides a comprehensive overview of some of the key points of law and practice of the regulatory environment in Luxembourg. Today's chapter focuses on tips and traps.
What are your top tips for a smooth restructuring and what potential sticking points would you highlight?
Where Luxembourg holding or bond issuing companies are key to a distressed group, the following points are often misunderstood or considered too late, thus jeopardising a smooth restructuring;
On 19 June 2020, following the consultation, the Federal Council adopted the dispatch on the partial revision of the Swiss Federal Banking Act (Bundesgesetz über die Banken und Sparkassen, Bankengesetz). The legislative amendment intends to strengthen customer and depositor protection and promote system stability.
The partial revision focuses on three main areas: (i) the restructuring proceedings for banks, (ii) deposit insurances and (iii) intermediated securities.