The U.S. Department of Justice (DOJ) has released guidance to its attorneys regarding requests to discharge student loans in bankruptcy cases.

Bankruptcy benefits for individual debtors are a tough sell—always have been. That’s because no one likes bankruptcy—unless they need it.

But relieving people from debts in unfortunate circumstances is essential to our collective way of life in these United States. That’s always been true.

What follows is the second of three installments on some history of bankruptcy laws through the ages, beginning with ancient times—and to the present in these United States.

Federal Bankruptcy Act of 1841

A draft of a preventive restructuring act is being discussed in the Czech legal environment to implement the EU directive on restructuring and insolvency (directive (EU) 2019/1023). The aim of the new legal regulation is to introduce an out-of-court restructuring model with shorter times to improve operations and the balance sheets of debtors in financial difficulties. Different forms of out-of-court restructuring are common and frequently used in many foreign jurisdictions, e.g. arrangements in England and Wales.

Many cryptocurrency lenders have declared bankruptcy. These loss events are indicators of the significant losses the cryptocurrency market has experienced this year.

For investors who have suffered, an important consideration is how to capitalize on these losses. Accordingly, this article will analyze the recent Celsius Network (“Celsius”) bankruptcy and the tax strategy of writing off bad debt.

The Celsius Bankruptcy

Introduction and Background

COMMERCIAL | JANUARY 2023 BANKRUPTCY IN THE UAE PART 2: DIRECTORS’ DUTIES 1. Introduction One of the most common ways of conducting business within the UAE is through an onshore limited liability company. Commercial companies incorporated onshore in the UAE have a separate legal personality.1 The company can enter into legally binding agreements in its own name and take on valid and binding obligations.

One of the most common ways of conducting business within the UAE is through an onshore limited liability company. Commercial companies incorporated onshore in the UAE have a separate legal personality.1 The company can enter into legally binding agreements in its own name and take on valid and binding obligations. Actions of the directors of a company, on behalf of such a company, generally bind the company.2 Generally, any liabilities resulting from those actions are for the account of the company, rather than for the account of the individual directors in their personal capacity.

第1 はじめに 

令和４年３月４日付けで、経済産業省は金融庁・財務省ととも に「中小企業活性化パッケージ」を策定・公表し、同パッケージに 基づき、同年4月1日より、中小企業再生支援協議会と経営改 善支援センターを統合し、中小企業の収益力改善・事業再生・ 再チャレンジを一元的に支援する「中小企業活性化協議会」を 設置しました。

これは、日本の企業数の99.7%、雇用の7割を占める中小企 業について、コロナ禍の長期化等により増大する債務に苦しむ 状態が長く続いているという現状を踏まえ、事業者のフェーズ （収益力改善フェーズ・事業再生フェーズ・再チャレンジフェーズ）に応じたきめ細やかな支援を措置するとともに、描くフェーズを 一元的に支援する支援体制を構築することを目的とするものです。

中小企業活性化協議会が行っている再生支援は①窓口相 談と、②具体的な再生支援とに大きく分かれます。②具体的な 再生支援は下図のとおりです。本稿では、①窓口相談、②具体 的な再生支援のうち中小企業活性化協議会自身による支援の 概要についてご説明いたします注）¹。

We are again reminded that the clear terms of a written contract—even if they might yield a surprising result—will govern. For those who don’t bother to read the “clickwrap” terms and conditions when, for example, signing up for the new online game or entrusting millions in crypto currency, those controlling terms may surprise. Parties in any transaction cannot just assume that the “boilerplate”—whether a make-whole in a note, a subordination provision in a credit agreement, or terms and conditions in a customer agreement—will be acceptable.

Cryptocurrency in Celsius’ Earn Accounts belongs to the bankruptcy estate, and not to the depositors who placed it there, according to a January 4 memorandum opinion from Judge Martin Glenn of the U.S. Bankruptcy Court in the Southern District of New York.