Tax reform 2021, land market opening, CFC rules, new requirements on disclosure of ultimate beneficial owners as well as companies’ corporate structure and a lot more – the novelties of the first half of 2021 raised lots of questions, as they relate to all those living, working and carrying out entrepreneurial activity in Ukraine.

GOLAW Team has prepared a new issue of the «Analyses and Forecasts of the legislative changes».

Contents:

ПІДСУМКИ ТА ПРОГНОЗИ ЗАКОНОДАВЧИХ ЗМІН Перше півріччя 2021 Відкриття ринку землі в Україні: Що потрібно знати? Відповідальність за неподання декларації та приховування статків: Що нового передбачає закон? Відповідальність платників податків: Що змінилося у 2021 році? Контрольовані іноземні компанії: Поточний стан і погляд в майбутнє Кінцеві бенефіціари і корпоративна структура компанії: Нові вимоги до розкриття Нові правила оподаткування непрямого продажу нерухомості 2 6 11 Податкова амністія для приватних осіб: 14 Можливість чи зачіпка для переслідування?

As we move closer to a global recession caused by the current pandemic, some companies will find themselves in the unfortunate position of having to seek bankruptcy relief. This may have some important and often overlooked privacy implications. There is no question that in this day and age, one of a business’ most valuable assets is the personal information that it has collected from its customers and/or end-users – often more so than any of its tangible assets.

This week’s TGIF considers a recent decision of the Supreme Court of New South Wales, Re Antqip Pty Ltd (in liq) [2021] NSWSC 1122, concerning whether section 588FL of the Corporations Act2001 (Cth) applied to vest a security interest in the company that was granted after the ‘critical time’.

Key Takeaways

There has never been a more disruptive time for business. Brexit and the resultant uncertainty arising from the pandemic have dramatically impacted the business landscape over the last 18 months. No matter what the sector, and no matter how big or small the company, every business has been affected by COVID-19 in some way.

Insolvency practitioners and buyers of distressed assets beware: although the National Security and Investment Act 2021 (NSI Act) will come into effect in the UK on 4 January 2022, it has retrospective power to examine transactions from 12 November 2020.

Mandatory notification

Il Decreto Legge n. 118/2021, proposto dalla Commissione Pagni ed approvato dal Consiglio dei Ministri ad inizio agosto, è stato pubblicato sulla Gazzetta Ufficiale n. 202 del 24 agosto (“Decreto”).

Con tale Decreto, il Governo ha introdotto nuove e ulteriori misure per contenere e superare le imponenti conseguenze prodotte dall’emergenza epidemiologica in materia di crisi d’impresa e risanamento aziendale.

Ob verwahrte kryptobasierte Vermögenswerte bereits mit Hilfe von Art. 242 SchKG ausgesondert werden konnten, war in der Lehre bisher umstritten. Am 1. August 2021 ist nun Art. 242a SchKG in Kraft getreten, der Klarheit bei der Aussonderung kryptobasierter Vermögenswerte schafft.

Neu wird zudem mit Art. 242b SchKG ein gesetzlicher Anspruch für den Zugang zu Daten geschaffen, die sich in Gewahrsam der Konkursmasse befinden. Damit wurde ein weitgehend unbestrittenes Anliegen ins SchKG aufgenommen.

Following its approval on 5th August 2021 by the Council of Ministers, the Law-Decree n. 118 was published on 24th August into the G.U. n. 202 about the topic of "Urgent measures in the field of business crises and business reorganisation, as well as further urgent measures in the field of justice". 

Firstly, the Law-Decree postpones the entry into force of the Italian Crisis Code until 16th May 2022 (Art. 1, letter a), further postponing to 31 December 2023 the “crisis alert related procedures” introduced by Article 12 of the Crisis Code. 

A seguito dell’approvazione avvenuta il 5 agosto 2021 da parte del Consiglio dei ministri, è stato pubblicato il 24 agosto in G.U. n 202 il Decreto-legge n. 118 in tema di “Misure urgenti in materia di crisi d’impresa e di risanamento aziendale, nonché ulteriori misure urgenti in materia di giustizia”. 

Il Decreto in primo luogo differisce l’entrata in vigore del Codice della Crisi al 16 maggio 2022 (art. 1, lett. a), posticipando ulteriormente al 31 dicembre 2023 le procedure di allerta della crisi introdotte dall'art. 12 CCI.