French courts are closed for the unknown duration of the COVID-19 lockdown. Businesses facing immediate difficulties may still file for emergency or restructuring proceedings. Filings must be made electronically and hearings will be conducted remotely.

Court Closures

In France, when bankruptcy proceedings are instituted against a party involved in a pending arbitration it can result in conflicts between the applicable arbitration and insolvency rules. In that context, an arbitral tribunal sitting in France may be confronted with determining the extent to which they must defer to mandatory insolvency rules.

In unserer Blogserie „Epic Fails bei Restrukturierungen” haben wir zuletzt über mögliche Fehler beim Interessenausgleich, beim Sozialplan und bei der

Reform des Insolvenzanfechtungsrechts

Das Gesetz zur Reform des Insolvenzanfechtungsrechts ist am 05.04.2017 in Kraft getreten. Im Fokus steht mit § 133 InsO die sogenannte Voranfechtung, die bislang in ihrer Ausprägung durch die Rechtsprechung des Bundesgerichtshofs in der Kritik stand. Im Ergebnis musste ein Gläubiger so bereits dann mit einer Insolvenzanfechtung durch den Insolvenzverwalter rechnen, wenn er seinem Schuldner eine Ratenzahlung gewährte.

Changes in law What’s new in the Polish law? An overview of selected changes in regulations and their impact on business Wierzbowski Eversheds | 2016 – Changes in law 2 Introduction We are pleased to present to you our brochure reviewing the changes in law that may soon have a significant impact on your business. The publication contains commentaries and analyses gathered from the perspective of what in our view may be important in 2016. The materials also reflect the issues our law firm encounters every day.

In a nutshell, arbitration must fulfil two main aims to be attractive to its potential users: enforceability of the award must be certain and proceedings must be efficient. In light of those aims, the year 2015 brought two major changes to arbitration proceedings in Poland. Firstly, the amendment of the Bankruptcy Law put an end to all the doubts that arose with regard to the effect of the bankruptcy proceedings of a party to an arbitration agreement on the validity of such agreement.

Saudi Arabia takes out $10 billion in bank loans

Introduction

In Elektrim SA (In Bankruptcy) v Vivendi Universal (& Ors) [2008] EWHC 2155 (Comm) the claimant and defendant companies had entered into an investment agreement governed by Polish law, which contained an arbitration clause providing for arbitration in London. It was common ground that unlike the rest of the investment agreement , the arbitration agreement was governed by English law. In 2003, Vivendi commenced arbitration proceedings in London which were still ongoing on 21 August 2007 when Elektrim was declared bankrupt by an order of the Warsaw court.

Supreme Administrative

Court Judgement of October 12, 2016

Case no. 0797/15

In this Judgment, the Supreme Administrative Court concluded that expenses related to employees, recorded as remuneration, salaries or wages, relevant to the limit of 15% foreseen for acceptance of the expenses with social benefits referred to in Article 43.2 of the CIT Code, are not limited to those that were subject to mandatory Social Security contributions.

South Central Administrative Court

Judgement of October 13, 2016