We analyze the main novelties of the international insolvency regulation introduced in the Insolvency Law Reform Bill. Although the final wording will be approved after its passage through parliament, the chapter on international insolvency is among those that received the fewest amendments and therefore is expected to see the fewest changes. We therefore predict that all or a large part of the comments made below will also be applicable to the wording of the Insolvency Law that will be approved at the end of the process.
The European Court has issued a sentence of special relevance for the operation and effectiveness of the “pre-pack” insolvency procedures. Specifically, it clarifies the requirements that must be met to respect the rights of workers in the event of business transfers.
El tribunal ha dictado un auto que se detiene sobre determinadas prácticas que se han producido en las subastas extrajudiciales de algunos procesos de liquidación. Concretamente, descarta la posibilidad de cobrar una comisión cuando el adjudicatario en la subasta es el propio acreedor con privilegio especial.
The appeal court has issued a decision which constitutes a reminder to be careful in relation to practices that have been occurring in certain out-of-court auctions within liquidation proceedings. Particularly, it rejects the possibility that a commission fee is collected when the winning bidder is the secured creditor whose security interest levies the asset sold.
El órgano judicial europeo ha dictado una sentencia de especial relevancia para el funcionamiento y efectividad de los 'pre-packs' concursales. En concreto, aclara los requisitos que se deben cumplir para respetar los derechos de los trabajadores en caso de transmisión de empresas.
Property claims, especially lien claims, are common in the current environment of supply chain disruption and delay. Most contractual, statutory and common law lien claims, including where the Personal Property Securities Act 2009 (Cth) is involved, will turn on timing, scope and quantum arguments. In this article, we outline the usual levers in a lien dispute from the debtor and creditor perspectives and make some suggestions for getting to a commercial resolution.
Where the key asset of a technology start up is a potential entitlement to an R&D tax refund, the Spitfire decision provides important clarity for financiers of such businesses, as well as for liquidators (and employees) of those businesses which fail.
Letters of support take many forms and are issued for a variety of purposes and can generate a serious tension between the interests of various stakeholders — parents, subsidiaries, boards and auditors.
The High Court today gave the first decision, globally, of a Court of ultimate appeal on the question of the construction of Article XI(2) of the Cape Town Convention's protocol on Matters Specific to Aircraft Equipment (Aircraft Protocol), which is of seminal importance for financiers and lessors of aircraft property, insolvency administrators globally.
Foi publicada em Diário da República a Lei n.º 9/2022, de 11 de janeiro, que veio estabelecer medidas de apoio e agilização dos processos de reestruturação das empresas e dos acordos de pagamento, transpor a Diretiva (UE) 2019/1023, do Parlamento Europeu e do Conselho, de 20 de junho de 2019, e alterar o Código da Insolvência e da Recuperação de Empresas (