Introduction
Towards the end of 2020, while businesses were reeling from the challenges of grappling with a global pandemic, the end of the Brexit transition period and LIBOR transition, the Law Commission published a paper analysing the current law underlying intermediated securities - Intermediated securities: who owns your shares? A Scoping Paper.
It is safe to say that the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code“) and the regime it has spawned, has effected a complete turnaround in the way insolvency and liquidation proceedings were dealt with in India. The IBC has quickly become the preferred route for creditors and debtors alike, with stakeholders lauding the efficiency of the Code. The standout factor that has contributed to the success of the Code is the strict timeline prescribed and followed during the insolvency resolution process.
INSURANCE AND REINSURANCE DISPUTES
2020 REVIEW
The contents of this publication are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
INSURANCE AND REINSURANCE DISPUTES 2020 REVIEW
Contents
Preface
Der Bundesgerichtshof (BGH) hat mit Urteil vom 18. November 2020 (IV ZR 217/19) entschieden, dass Ansprüche gegen GmbH-Geschäftsführer auf Ersatz von Zahlungen, die nach Insolvenzreife vorgenommen wurden, vom Versicherungsschutz der D&O-Versicherung umfasst sind. Mehrere Oberlandesgerichte hatten dies zuletzt noch anders beurteilt. In der Praxis hatte dies zu einer erheblichen Unsicherheit geführt, nicht zuletzt mit Blick auf die infolge der COVID-19-Pandemie vorübergehend geänderten Insolvenzantragspflichten.
Hintergrund der Entscheidung
Obtaining a County Court Judgment (CCJ) is the first step in enforcing a debt against the debtor. Once a CCJ has been obtained, the judgment creditor will need to take the necessary steps to enforce their Judgment to recover the monies owed to the judgment creditor, unless the debtor pays the full judgment debt after receiving the judgment. During COVID-19, the Government has put legislation in place to protect people from being affected by the consequences of their debts.
In the landmark case of Re China Huiyuan Juice Group Limited [2020] HKCFI 2940, Mr Justice Harris recalibrated the Hong Kong winding-up jurisdiction and its application to an offshore incorporated, Hong Kong-listed entity.
In particular, the decision explains why the Hong Kong court may be unable to wind up an offshore incorporated, Hong Kong-listed company where all of the company’s operating assets are in the Mainland.
The material facts
Tamara Oppenheimer QC, Rebecca Loveridge and Samuel Rabinowitz, Fountain Court Chambers
This is an extract from the fifth edition of GIR's The Practitioner’s Guide to Global Investigations. The whole publication is available here.
36.1 Introduction
On 19 January 2021, in a plenary session of Parliament, three Statutes of material importance to economic agents doing business in Angola were approved, the publication of which in the Angolan Official Gazette is now awaited.
1. The "Law on the Legal Framework for Corporate Recovery and Insolvency" was unanimously approved.
“Survey and test prospective action before undertaking it. Before you proceed, step back and look at the big picture, lest you act rashly on raw impulse”
- Epictetus
“Your hindsight on this case, was far more accurate than his foresight”
- David Carpenter
INTRODUCTION
The StaRUG provides for a so-called stabilisation order to make it easier for companies to restructure. This is also referred to as a moratorium. We explain the requirements and consequences.