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。

Introduction and Background

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.

As 2022 drew to a close, a Delaware bankruptcy court approved a settlement between PhaseBio Pharmaceuticals and SFJ Pharmaceuticals over their ill-fated drug development financing partnership. This court approval ended a legal saga that began two years ago, when PhaseBio, a public biopharmaceutical company developing a novel drug to control bleeding in certain patients, entered into an agreement with SFJ, a company that finances and supports drug development, to fund up to $120 million to advance PhaseBio’s pivotal Phase III trial for the drug.

In 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (“Rule”) that amends Regulation F, 12 C.F.R. part 1006, the Fair Debt Collection Practices Act (the “FDCPA”). The Rule became effective on November 30, 2021. Because the FDCPA was implemented over four decades ago, the Rule is designed to interpret and further the goals of the FDCPA in present day. The Rule places additional restrictions on debt collection practices and addresses communications regarding debt collection.

Scope of the Rule

The U.S. Court of Appeals for the Ninth Circuit recently affirmed a bankruptcy court’s judgment in favor of a debtor who sought to avoid a judgment lien under California’s homestead exemption law.

In so ruling, the Ninth Circuit held that, when a judgment lien impairs a debtor’s state-law homestead exemption, the Bankruptcy Code requires courts to determine the exemption to which the debtor would have been entitled in the absence of the lien.

This article will discuss whether or not a winding-up petition or bankruptcy petition can be based upon a liquidated amount of crypto which is due and payable by one party to another (a crypto-debt).

An example of such a case could be where party A agrees to transfer 100 widgets to party B in exchange for five bitcoin. Assume party A delivers the widgets, and party B accepts receipt and raises no issue with the widgets, and does not dispute their liability to transfer five bitcoin to party B.