The Hungarian government issued a decree that amends certain provisions of the bank's liquidation proceedings. The decree entered into force on 15 April 2022 and affects the solvent liquidation of Sberbank Hungary, a subsidiary of Sberbank Europe AG, the Hungarian member of the Russian Sberbank group.

This is a three-part article that explores whether private student loans are excepted from discharge under Section 523 (a)(8) of the Bankruptcy Code. Section 523 (a)(8) includes three categories of non-dischargeable student loan debt. Part I of the blog article discussed Section 523 (a)(8)(A)(i) and can be accessed here.

This is a three-part article that explores whether private student loans are excepted from discharge under Section 523 (a)(8) of the Bankruptcy Code. Section 523 (a)(8) includes three categories of non-dischargeable student loan debt. Part I of the blog article discussed Section 523 (a)(8)(A)(i) and can be accessed here.

Cryptoassets are in the spotlight for many reasons. The use of cryptocurrencies as an alternative to fiat currencies is being explored and tested further by global events. Their correlation with traditional stores of value is being tested in volatile markets. Their status as both a potential means of avoiding sanctions and as a possible means of funding charitable and humanitarian causes is being demonstrated and discussed.

In the United States, student loans have exceeded $1.6 trillion, making student loans a central focus amongst Chapter 7 and 13 debtors. Student loans facilitated or guaranteed by the U.S. government or a non-profit institution are non-dischargeable in bankruptcy court, pursuant to Section 523 (a)(8) of the Bankruptcy Code. A non-dischargeable debt means that the debtor must still repay the debt even after successful Chapter 13 or 7 bankruptcy.

コロナ禍において、債務残高が増加し、債務の過剰感を感じる企業も増える中、2021 年 6 月 に政府の「成長戦略実行計画」が閣議決定され、同計画で、事業再構築・事業再生の環境整 備のため、中小企業の実態を踏まえた事業再生のための私的整理等のガイドラインの策定を検 討することが示されました。これを受け、「中小企業の事業再生等に関する研究会」が発足し、 同研究会より、2022 年 3 月 4 日に「中小企業の事業再生等に関するガイドライン」（以下「本ガ イドライン」）が公表されました。その後、実務上留意すべきポイントをまとめた Q&A も公表され、 2022 年 4 月 15 日から本ガイドラインの適用が開始されています。

本ニュースレターでは、本ガイドラインが定める中小企業向けの新たな準則型私的整理手続 の概要について、再生型私的整理手続を中心にご説明します。

In a damning indictment of the government's handling of the bounce back loan scheme, the Times are reporting that up to £17bn of the £47bn spent by the government on bounce back loans will never be paid back. Of the irrecoverable sums, around £4.9bn is suspected to have been lost to fraud.

The Court of Appeal has held that the Electronic Money Regulations 2011 do not impose a statutory trust in respect of funds received from e-money holders (who nonetheless enjoy priority status in respect of their creditor claims), providing some much-needed clarity on this issue for e-money institutions and their clients.

A link to the judgment can be found here.

Background

In the recent Court of Appeal case of Re Ipagoo LLP, the court provided welcome clarity on the status of e-money holders’ claims under the Electronic Money Regulations 2011 (EMR). In brief, the Court of Appeal held that the EMR do not impose a statutory trust in respect of funds received from e-money holders. The court confirmed, however, that e-money holders will still enjoy priority status in respect of their e-money creditor claims (crucially) whether or not their funds have been duly segregated from the general pool of assets, as required under the EMR.

The Regulation on the Procedure for Sales to be Made in the Electronic Environment pursuant to the Enforcement and Bankruptcy Law, and the Regulation Amending the Enforcement and Bankruptcy Law Regulation (“Regulations”) were published in Official Gazette dated 8 March 2022 and numbered 31772, entering into force on the same day.