Sovereign debt restructurings are complex processes that involve negotiations with a sovereign’s creditors to alter the terms of existing debt, aiming to restore fiscal sustainability and ensure long-term economic stability.
APAC and Africa are diverse and multifaceted regions. APAC is set to contribute 70% of global growth whilst Africa is showing remarkable resilience in many sectors. We’ll learn from our members what this means for those looking to do business in these regions.
APAC
ANNUAL CASE REVIEW 2021 serlecourt RAISING THE BAR IN CHANCERY & COMMERCIAL “Stacked with highly experienced silks and juniors, Serle Court has long been one of the leading sets when it comes to civil fraud disputes” Legal 500 serlecourt 02 Welcome to Serle Court’s Annual Review of 2021. In the second year of the pandemic, barristers at Serle Court have continued to appear, often remotely, in courts at all levels around the world, in cases across our wide field of commercial chancery law.
A mere few weeks ago, the hypothesis that the COVID-19 virus would not affect the African continent was still being widely propagated. The theory that the virus does not survive in warm weather has since been debunked and the number of African countries that have recorded confirmed cases of coronavirus is growing rapidly. On 18 March 2020, the Director-General of the World Health Organisation, Tedros Adhanom Ghebreyesus, warned that Africa has to prepare for the worst.
Over the last few years Spain has amended its insolvency laws to promote
out of court refinancing arrangements as a much needed alternative
to formal insolvency proceedings. The outcome of these changes,
aimed at putting Spain on a par with other EU jurisdictions, is yet to be
seen. However, what is clear is that the latest round of amendments
has substantially improved the possibility of reaching an out of court
refinancing settlement in Spain.
Historically, in relation to syndicated facilities, out of court refinancing
A la suite de la liquidation de la Banque Internationale de l’Afrique de l’Ouest au Cameroun, ses ex-employés ont décidé de se pourvoir en justice aux fins de recouvrer leurs droits auprès de l’Etat du Cameroun, en se constituant pour conseil, Maître TANG Emmanuel.
Par les soins de ce dernier, ils obtinrent une autorisation de saisie conservatoire et entreprirent son exécution en faisant procéder à une saisie conservatoire auprès de différentes banques, dont la « BICEC » qui détenait les fonds que la Caisse Autonome d’Amortissement y avait placés pour les reverser aux ex-employés.
Subsequent to the liquidation of the Banque Internationale de l’Afrique de l’Ouest (BIAO) in Cameroon, the bank’s former employees filed suit against BIAO in order to collect their financial benefits from Cameroon government. They employed the legal services of Mr TANG Emmanuel who enabled them to secure a court order attaching the assets of the bank.
Innovations to the Act in late 2015 seek to modernize and simplify collective proceedings in OHADA member states.
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The Court of Justice and Arbitration, “CCJA”, of the Organization for the Harmonization in Africa of Business Law, “OHADA”, in its judgment No. 028/2016 of 25 February 2016, stated that a matter raising issues relating to the application of a uniform Act, in this instance the Organization of Simplified Recovery Procedures and Enforcement means, falls within its jurisdiction.