Em sessão realizada em 27 de abril de 2022, a Segunda Seção do Superior Tribunal de Justiça (STJ) julgou o Recurso Especial nº 1655705/SP, cujo acórdão recém-divulgado impôs a forma de pagamento fixada em Plano de Recuperação Judicial (PRJ) a determinado credor que não fez parte da recuperação judicial e pretendia cobrar o seu crédito individualmente.
预重整制度源于美国企业破产重整实践，我国现行破产法律尚未对预重整制度予以明确的规定。近年来，我国各地法院在贯彻最高院“积极推动构建庭外兼并重组与庭内破产程序的互相衔接机制，加强对预重整制度的探索研究 ”有关精神的实践中，逐渐建立起预重整规则。上海破产法庭于2022年5月27日发布了《上海破产法庭预重整案件办理规程（试行）》（以下简称“《上海规程》”），探索构建预重整机制，全文共计21条，于2022年6月1日起试行。
本文拟以某案例为切入点，揭示及探讨政府和社会资本合作（Public-Private Partnership，下称PPP）项目中社会资本方因项目合同主体问题而面临的潜在风险及可能的风险防范措施。
1. 案例情况简述
项目投资人A公司（外国公司）与B政府签订某项目投资框架协议，约定由A公司设立项目公司C以负责建设、运营某污水处理厂特许经营项目，并在对项目建设时间、技术要求、费用确认机制等关键条件做出约定的同时，明确“详细条款在正式合同中约定”。
随后，B政府作为甲方与A公司作为乙方签订PPP项目合同，约定项目按照合同要求建设并投入运营后，由B政府承担向乙方支付污水处理费的义务（最终用户向B政府付费），并且“当项目公司成立后，乙方在本协议项下的所有权利和义务自动转让给项目公司”。
根据前述协议，A公司设立由其100%控股的项目公司C，由C公司承继PPP项目合同中与建设、运营项目相关的所有权利义务。C公司主要通过向当地银行贷款的方式进行项目融资，以完成项目建设并将污水处理厂投入运营。
In a recent decision, Judge David Novak of the US District Court for the Eastern District of Virginia vacated the Chapter 11 plan confirmation order entered by the bankruptcy court in the Mahwah Bergen Retail Group (formerly known as Ascena Retail Group) case, holding that the plan’s non-consensual third-party releases were unenforceable.1 The ruling arrived shortly after an
The liquidators of a company successfully applied to join the insurers of the directors of an insolvent company to court proceedings.
In Issue
As part of a claim against a company’s directors for insolvent trading, it became apparent that should the directors be found liable, they would be unable to pay the damages sought, and would become bankrupt. The liquidator brought an interlocutory application to join the company’s insurers that provided management liability cover in the relevant period, pursuant to of s117 of the Bankruptcy Act 1966 (Cth).
The law is the witness and external deposit of our moral life. Its history is the history of the moral development of the race.
Unitranche financing began as a middle-market product, tracing its origins to the days of recovery from the global credit crisis. The credit markets re-opened with an explosion of available capital from traditional lenders, business development companies and other direct lenders. With an increasing supply of capital, leverage shifted to borrowers and private equity, allowing them to better dictate the terms and conditions of their loan facilities. With the greater prevalence of so-called “covenant-lite” loans, also came the exponential growth of the unitranche market.
世界银行集团（WBG）高级管理层于2021年9月16日决定停止发布《营商环境报告》（DB）报告和数据，并于2022年2月4日公布了宜商环境（Business Enabling Environment，简称BEE）概念的说明，用宜商环境替代原有的营商环境，并将破产纳入BEE一级指标。破产指标下包含破产程序的监管质量、破产程序的相关体制及机制的质量以及破产司法程序的难易程度三个二级指标。
目前，受到新冠疫情的影响，有很多企业面临无法清偿到期债务、资不抵债或者明显缺乏清偿能力的情形，而破产程序包括破产清算、破产重整和破产和解，既是平衡债权人债务人利益的有力手段，也是挽救企业、使企业再生的重要安排。
They are all the rage: People are forming decentralized autonomous organizations (DAOs) as vehicles to purchase or bid on a wide range of assets—NFL teams, golf courses, fossil-fuel companies, even a copy of the U.S. Constitution.
Overview