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    Oberlandesgericht München bestätigt: Kein Versicherungsschutz für Ansprüche gemäß § 64 GmbHG
    2019-12-19

    Das Oberlandesgericht München hat in einem bisher unveröffentlichten Hinweisbeschluss[1] die Rechtsauffassung des Oberlandesgerichts Celle[2] und des Oberlandesgerichts Düsseldorfs[3] bestätigt, dass für Ansprüche des Insolvenzverwalters gegen Geschäftsführer wegen Zahlungen trotz Insolvenzreife kein Versicherungsschutz unter einer D&O-Versicherung besteht. Daneben hat das Oberlandesgericht München auch zur Verteilung der Darlegungs- und Beweislast in Abtretungskonstellationen Stellung bezogen.

    Filed under:
    Germany, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP, Federal Court of Justice
    Authors:
    Dr. Henning Schaloske , Daniel Kreienkamp
    Location:
    Germany
    Firm:
    Clyde & Co LLP
    Nichterfüllungswahl des Insolvenzverwalters in der D&O-Versicherung
    2019-08-05

    Mit rechtskräftig gewordenem Urteil vom 06.03.2019 (Az. 5 O 234/17) hat das Landgericht Wiesbaden entschieden, dass es dem Insolvenzverwalter und allen versicherten Personen verwehrt ist, Versicherungsschutz für Inanspruchnahmen zu verlangen, die einer Versicherungsperiode zuzuordnen sind, für die der Insolvenzverwalter die Nichterfüllung des D&O-Versicherungsvertrags gewählt hat.

    Filed under:
    Germany, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP
    Authors:
    Dr. Daniel Kassing, LL.M.
    Location:
    Germany
    Firm:
    Clyde & Co LLP
    D&O insurance and section 103 InsO
    2019-08-05

    In a final ruling dated 6 March 2019 (Case ref.: 5 O 234/17), the Regional Court of Wiesbaden decided that the insolvency administrator and all insured persons are not entitled to claim insurance coverage for claims attributable to an insurance period for which the insolvency administrator has chosen not to fulfi l the D&O insurance contract.

    Filed under:
    Germany, Insolvency & Restructuring, Insurance, Litigation, Clyde & Co LLP
    Authors:
    Dr. Daniel Kassing, LL.M.
    Location:
    Germany
    Firm:
    Clyde & Co LLP
    Aktuelle Entwicklungen
    2017-05-22

    Reform des Insolvenzanfechtungsrechts

    Das Gesetz zur Reform des Insolvenzanfechtungsrechts ist am 05.04.2017 in Kraft getreten. Im Fokus steht mit § 133 InsO die sogenannte Voranfechtung, die bislang in ihrer Ausprägung durch die Rechtsprechung des Bundesgerichtshofs in der Kritik stand. Im Ergebnis musste ein Gläubiger so bereits dann mit einer Insolvenzanfechtung durch den Insolvenzverwalter rechnen, wenn er seinem Schuldner eine Ratenzahlung gewährte.

    Filed under:
    Germany, Arbitration & ADR, Insolvency & Restructuring, Litigation, Clyde & Co LLP
    Authors:
    Dr. Henning Schaloske , Dr Tanja Schramm , Dr Kathrin Feldmann , Daniel Kreienkamp , Dr. Isabelle Kilian
    Location:
    Germany
    Firm:
    Clyde & Co LLP
    Covid-19 Singapore: guide to (temporary measures) act 2020
    2020-04-08

    The COVID-19 (Temporary Measures) Act (the Act) will have a considerable impact on the enforcement of certain contracts and commercial disputes in Singapore for the next 6 to 12 months. The Act was passed by the Singapore Parliament, and commenced on the same day, 7 April 2020.

    The key measures of the Act are:

    Filed under:
    Singapore, Arbitration & ADR, Banking, Company & Commercial, Insolvency & Restructuring, Clyde & Co LLP, Force majeure, Coronavirus
    Authors:
    Ian Roberts , Prakash Pillai
    Location:
    Singapore
    Firm:
    Clyde & Co LLP
    COVID-19 Insolvency: Considerations for the Singapore (Temporary Measures) Act
    2020-04-08

    The Act is meant to give temporary relief to financially distressed individuals, firms and businesses who are facing challenges imposed by COVID-19 but who are otherwise viable and profitable.

    It is unsurprising that many of the Act’s sections expressly refer to the relevant provisions of the personal and corporate insolvency legislation applicable in Singapore. In this regard, it is noteworthy that the Act refers expressly to the Insolvency, Restructuring and Dissolution Act (“IRDA”). This warrants some explanation.

    Filed under:
    Singapore, Insolvency & Restructuring, Clyde & Co LLP, Coronavirus
    Authors:
    Prakash Pillai , Junxiang Koh
    Location:
    Singapore
    Firm:
    Clyde & Co LLP
    Covid-19 Singapore: government proposes monumental temporary relief from commercial disputes
    2020-04-01

    The Ministry of Law in Singapore has announced that it will introduce a bill to the Parliament next week to offer temporary relief to businesses and individuals who are unable to fulfil their contractual obligations because of the COVID- 19 pandemic.

    The proposed bill includes:

    Filed under:
    Singapore, Company & Commercial, Insolvency & Restructuring, Clyde & Co LLP, Coronavirus
    Authors:
    Ian Roberts , Ik Wei Chong , Jon Howes , Prakash Pillai , Sapna Jhangiani , Justin Tan , Nicholas Lum
    Location:
    Singapore
    Firm:
    Clyde & Co LLP
    Otto Marine Applies for Judicial Management (Chinese)
    2018-02-26

    上周,曾在新加坡证券交易所有限公司(“新交所”)上市的Otto Marine有限公司(以下简称“Otto Marine”)提出申请将公司提交司法托管(“司法托管申请”)并请求任命临时司法管理人。

    该公司系总部为新加坡的Otto Marine集团的核心成员,Otto Marine集团拥有约70家子公司,联营公司和间接子公司,在全球拥有622名员工。 Otto Marine集团从事投资控股,船舶建造,维修和服务,船舶租赁和租赁以及离岸服务业务。 Otto Marine的独任董事暨实际股东是马来西亚大亨拿督斯里丘志肖。

    司法托管申请发生于2015年约1.83亿美元的亏损以及2016年10月自新加坡证券交易所自愿退市之后。根据该公司截至2017年12月31日的管理账目初稿,本财政年度累计录得亏损约8100万美元。 在支持司法托管申请的法院文件中,该公司估计总负债约为8.77亿美元,并宣称自己无力偿还债务,并援引大华银行提交的清盘申请和各种未决执行申请等事宜。

    根据法庭文件,拿督斯里丘志肖本人似乎是该公司最大的单一债权人,其本人或其附属公司享有2.08亿美元债权。

    Filed under:
    Singapore, Insolvency & Restructuring, Litigation, Clyde & Co LLP
    Authors:
    Prakash Pillai , Junxiang Koh
    Location:
    Singapore
    Firm:
    Clyde & Co LLP
    Interim Recognition of Hanjin Shipping’s rehabilitation proceedings in Singapore
    2016-09-19

    In a landmark judgment on 9 September 2016, the High Court of Singapore exercised its inherent jurisdiction to grant, on an ex parte basis, interim orders for the recognition of the Hanjin Shipping Co Ltd (Hanjin Shipping) Korean rehabilitation proceedings in Singapore.

    Filed under:
    Singapore, South Korea, Insolvency & Restructuring, Litigation, Shipping & Transport, Clyde & Co LLP, Singapore High Court
    Authors:
    Prakash Pillai , Junxiang Koh
    Location:
    Singapore, South Korea
    Firm:
    Clyde & Co LLP
    Hanjin Shipping - Current jurisdictional status and options - Singapore
    2016-10-04

    In a landmark judgment on 9 September 2016, the High Court of Singapore exercised its inherent jurisdiction to grant, on an ex parte basis, interim orders for the recognition of Hanjin's Korean rehabilitation proceedings in Singapore.

    Filed under:
    Singapore, Insolvency & Restructuring, Litigation, Shipping & Transport, Clyde & Co LLP, Singapore High Court
    Authors:
    Prakash Pillai , Junxiang Koh
    Location:
    Singapore
    Firm:
    Clyde & Co LLP

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