The new set of Swiss laws on blockchain and distributed ledger technology (DLT; Blockchain/DLT Laws) has been approved by the Swiss Parliament on 25 September 2020 and is thus now in final form. Subject to a referendum, which is unlikely, the Blockchain/DLT Laws will presumably enter into force early next year.
The main topics of the Blockchain/DLT Laws are:
Can state regulatory agencies move ahead with lawsuits against businesses who file for bankruptcy in order to enforce consumer protection and business laws, or does the automatic stay’s broad injunctive sweep capture those actions? The answer depends on whether the state is acting in its regulatory capacity or simply like another creditor – and the distinction is not always clear.
The COVID pandemic is going to increase bankruptcy filings in 2020 and 2021. Therefore, it is important to know some bankruptcy basics in order to maximize recovery. It is also important to retain bankruptcy counsel, but only after ensuring the likelihood of recovery and if the case/claims necessitate engagement of a bankruptcy specialist.
What kind of bankruptcy has been filed?
The Court of Appeal for Ontario's decision in Dal Bianco v Deem Management Services Limited, 2020 ONCA 585 [Dal Bianco] is the most recent pronouncement on resolving procedural conflicts between the Bankruptcy and Insolvency Act, RSC, 1985, c B-3 (BIA) and provincial enactments.
Yes, but only if it is done carefully.
All three of these options are procedures intended to secure the most money from the sale for the payment of creditors, and to leave the Seller creditor with no post-closing liability, but the procedure is not set up to provide a Buyer the most protection. However, if you proceed carefully, you can secure the major protections you need, in most circumstances.
Compare these procedures. In a normal contractual sale, a Buyer usually has the following protections:
The COVID-19 pandemic has forced big-name brands to pursue unique strategies to secure fiscal relief.
In Chandos Construction v Deloitte Restructuring, the Supreme Court clarified one aspect of bankruptcy law – the scope and application of the anti-deprivation rule – while leaving an unsettled area of contract law – the penalty doctrine – to be resolved for another day. Here, we consider the implications of the newly-clarified anti-deprivation rule as it applies to the construction industry.
Background
THE CHALLENGE:
After years of selling services at a loss to grow its customer base, Agera Energy—a retail electricity and natural gas provider for commercial, industrial and residential customers in 16 states—realized its business was no longer viable. The company decided to file for chapter 11 bankruptcy protection after evaluating strategic alternatives.
The common law anti-deprivation rule is alive and well in Canada, the Supreme Court of Canada held in an 8-1 decision in Chandos Construction Ltd. v Deloitte Restructuring Inc., 2020 SCC 25 [Chandos].
La Ley Concursal define insolvencia como la incapacidad del empresario para cumplir regularmente con sus obligaciones exigibles.