Proprietary trading. Reuters reported that Latvia, which currently holds the European Union presidency, opposes a proposal that would prohibit European banks from engaging in proprietary trading. (3/31/2015) Proprietary trading.
In its recent decision Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973 (2017), the United States Supreme Court held that a bankruptcy court may not approve a structured dismissal of a chapter 11 case that provides for distributions that fail to follow the standard priority rules, unless the affected creditors consent to such treatment.
PRA consults on capital adequacy. The UK Prudential Regulation Authority proposed changes to the PRA’s Pillar 2 framework for the banking sector, including changes to rules and supervisory statements. The proposed policy is intended to ensure that firms have adequate capital to support the relevant risks in their business and that they have appropriate processes to ensure compliance with the Capital Requirements Regulation and Capital Requirements Directive.
European Union
UK LEGAL HIGHLIGHTS 2014 AND BEYOND Welcome to our 2014 edition of UK Legal Highlights. This publication is a reminder of some of the most important and significant developments DLA Piper reported in 2014, along with some forthcoming developments to look out for in 2015 and beyond.
After a lengthy consultation period, the Pre-Action Protocol for Debt Claims (PAPDC) has now been finalised and will come into force on 1 October 2017. This protocol will apply to lenders who are seeking payment of a debt from an individual/ sole trader, as a debtor or guarantor. Now is the time to update your systems and procedures to accommodate the new protocol requirements.
What is required?
It used to be the case that mortgage creditors could rest easy knowing they held a mortgage, and that they would be repaid with the proceeds of the sale of the mortgaged asset, even in the event of an insolvency.
The media is brimming with articles on the rise of cryptocurrencies and digital assets. Whether it’s news on the rising value of Bitcoin, the acquisition of digital art for large amounts of money, the release of the latest Kings of Leon album as an NFT (non fungible token), or articles on people who have invested in cryptocurrency scams, crypto assets are taking center stage.
The Supreme Court's decision in Lehman Waterfall I was handed down this morning. DLA Piper represents one of the successful appellants, Lehman Brothers Limited (in administration) (LBL).
The court was asked to consider certain issues relating to distributions in the estate of Lehman Brothers International (Europe) (LBIE), an unlimited company in administration. Such issues arose due to a substantial anticipated surplus in LBIE and sought to resolve particular lacunas in UK insolvency legislation.
Except where otherwise noted, this paper is current as of September, 2011 and provides preliminary information on Canadian and British Columbia legal matters to assist you in establishing a business in British Columbia and provides general guidance only.