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    New database and certificate scheme for bankruptcies and liquidations
    2013-03-26

    A new electronic database of bankruptcy and liquidation petitions, open to any company, is being set up by the National Judicial Office.

    This will enable any company to obtain a certificate showing whether it has had a bankruptcy or liquidation petition filed or liquidation proceedings initiated against it (but in each case not yet finally decided).

    The introduction of the database and certificate system into the Bankruptcy Code is the result of concerted lobbying by the American Chamber of Commerce in Hungary and CMS Budapest Office.

    Filed under:
    Hungary, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP, Bankruptcy
    Authors:
    Erika Papp , Szabina Soptei
    Location:
    Hungary
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Court of Appeal rules on winding-up of firms offering satellite warranties
    2012-01-20

    On 29 November 2011, the Court of Appeal ruled for the dismissal of appeals lodged by Digital Satellite Warranty Cover Limited (DSWC) and Bernard Freeman and Michael Sullivan, trading as Satellite Services (SS), in respect of winding-up orders previously secured by the Financial Services Authority (FSA) against these companies.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Media & Entertainment, CMS Cameron McKenna Nabarro Olswang LLP, FSA, Court of Appeal of England & Wales
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Virgin activate restructuring plan
    2021-05-14

    Summary

    The much anticipated judgement of Mr Justice Snowden in relation to a restructuring plan proposal (the “Plans”) made by Virgin Active Holdings Limited, Virgin Active Limited and Virgin Active Health Clubs Limited (the “Plan Companies”) was handed down on 12 May 2021.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Real Estate, CMS Cameron McKenna Nabarro Olswang LLP
    Authors:
    Emma Pinkerton , Julie Gattegno
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Still play nicely - Contractual performance in the time of COVID-19: An update
    2020-07-08

    Businesses continue to face a challenging environment owing to the global COVID-19 crisis and consequent measures introduced by governments worldwide. The scope and nature of these measures is constantly evolving, with the focus now shifting to an easing of restrictions and facilitating a bounce back of the economy. As part of their response to such measures, businesses will be continuing to look at how best to deal with potential contractual disputes, or considering if some contracts can be terminated.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Coronavirus
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Czech insolvency rules to change under Lex COVID-19
    2020-04-02

    In response to the anticipated economic impact of the Covid-19 pandemic, on 31 March 2020 the Czech Government approved the so-called ‘Lex COVID-19’ and sent the draft law to the Parliament for expedited legislative processing. This article focuses on the implications of the Lex COVID-19 on the insolvency proceedings in the Czech Republic. For wider implications of the Lex COVID-19, please see this article.

    Filed under:
    Czech Republic, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Coronavirus
    Location:
    Czech Republic
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Romania implements tax debt restructuring and cancels tax liabilities
    2019-08-09

    Less than four years after the last fiscal amnesty, on 5 August, the Romanian government published a fiscal amnesty ordinance (No. 6/2019) that sets the framework for restructuring the debt of taxpayers with outstanding tax obligations and for the cancellation of accessory obligations.

    Filed under:
    Romania, Banking, Insolvency & Restructuring, Tax, CMS Cameron McKenna Nabarro Olswang LLP
    Location:
    Romania
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Bankruptcy and takeover of a wind farm
    2018-01-12

    November 2017 saw the first successful pre-packaged bankruptcy of a wind farm operator following the introduction of this procedure to Polish bankruptcy law in January 2016. Thanks to a decision made by the bankruptcy court in Warsaw, the assets of the 6 MW wind farm in Korzęcin can now be taken over by a publicly listed company operating in the renewable energy sector.

    Filed under:
    Poland, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP, Bankruptcy, Wind farm
    Location:
    Poland
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Important amendments to the Bulgarian Commerce Act
    2017-01-06

    We saw important amendments to the Bulgarian Commerce Act (the “Act”) come to life at the very end of 2016, most notably regarding:

    Notary certifications – currently in effect

    Filed under:
    Bulgaria, Company & Commercial, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP
    Location:
    Bulgaria
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    “Let them eat cake!”: World Bank tribunal finds investment treaty violations by Hungary
    2015-11-13

    Summary

    Filed under:
    Hungary, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Liquidation, Arbitral tribunal
    Location:
    Hungary
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP
    Call for evidence: collective redundancy consultation for employers facing insolvency
    2015-04-17

    The Insolvency Service has issued a call for evidence inviting comments on the issues with, and improvements that could be made to, the collective redundancy consultation requirements for employers faced with insolvency. 

    Filed under:
    United Kingdom, Employment & Labor, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP
    Authors:
    Sarah Ozanne , Gillian MacLellan , Emma Riddle , Siân Aitken
    Location:
    United Kingdom
    Firm:
    CMS Cameron McKenna Nabarro Olswang LLP

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