Historically, shareholders and management have not been liable for the debts of the public companies they run or own in Ukraine.
The Court of Appeal has resolved conflicting decisions at EAT level and confirmed that dismissals which are connected with a subsequent TUPE transfer can be automatically unfair under TUPE even where no specific transfer or purchaser is contemplated at the time of dismissal.
Corporate Structures Newsletter - June 2016 Baker & McKenzie Amsterdam For more information please contact: Ilona de Schipper Associate +31 20 551 7806 Director Disqualification Act enters into force on July 1, 2016 On July 1, 2016, the Director Disqualification Act (in Dutch: Wet civielrechtelijk bestuursverbod) will enter into force. The purpose of this act is to combat bankruptcy fraud and prevent managing directors from continuing mala fide activities through existing or new legal entities. Similar legislation is already in place in at least 11 other European Union member states.
Baker & McKenzie Alert Client Alert 28 SEPTEMBER 2015 Download Forward Contact Us Visit Our Website Providing the Commissioner of Taxation with access to records - even liquidators cannot escape Need to know The Federal Court has recently determined that when the Commissioner of Taxation is a creditor of a company in liquidation, he or she is not required to obtain a court order under section 486 of the Corporations Act 2001 (Cth) (Corporations Act), unlike all other creditors, before requiring the Liquidator to make available the company's records for inspection.
The Financial Services Authority (OJK) has issued the first regulation on the dissolution, liquidation and bankruptcy of insurance companies. On 11 December 2015, enacted Regulation No. 28/POJK.05/2015 on Dissolution, Liquidation and Bankruptcy of Insurance Companies, Syariah Insurance Companies, Reinsurance Companies and Syariah Reinsurance Companies (POJK 28). Before the enactment of POJK 28 there was no regulation within the vicinity of the insurance law on matter.
Commercial Dispute Resolution Jakarta Client Alert September 2015 Supreme Court Ruling on Bankruptcy of Bumi Asih Jaya On 9 September 2015, the Republic of Indonesia Supreme Court gave its ruling on the cassation application submitted by the Financial Services Authority ("OJK") regarding the bankruptcy petition against PT Asuransi Jiwa Bumi Asih Jaya ("BAJ"), one of the oldest insurance company in Indonesia. The Supreme Court ruled in favour of OJK and approved the bankruptcy petition against BAJ. Under the previous regime, Law No.
Financial Services Regulatory Singapore Client Alert May 2016 MAS Issues Proposed Enhancements to Resolution Regime for Financial Institutions in Singapore Background In June 2015, the Monetary Authority of Singapore ("MAS") issued a consultation paper on the Proposed Enhancements to the Resolution Regime for Financial Institutions in Singapore ("June 2015 Consultation Paper").
A recent decision of the NSW Court of Appeal demonstrates the importance for security trustees tocarefully consider and understand their obligations in an enforcement scenario.
Need to know
Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Conducting Business in Ukraine 2016 Baker & McKenzie Renaissance Business Center 24 Bulvarno-Kudriavska (Vorovskoho) St.
Introduction
On 1 July 2015, the Commonwealth Government launched the Fair Entitlements Guarantee Recovery Programme for an initial period of two years. The purpose of the Recovery Programme is to increase the prospects of the Commonwealth recovering amounts it has paid to former employees of companies in liquidation pursuant to the Fair Entitlements Guarantee Scheme[1].