Last Friday, in response to the outbreak of the coronavirus pandemic (COVID-19), the German government announced various measures described as a big "bazooka" to avert a crisis in the Eurozone's largest economy. The German development bank KfW will play a key role in the context of the announced measures and has been tasked to provide liquidity assistance to German companies hit by the pandemic.
The German Federal Government is currently working on a Law for the Mitigation of the consequences of the COVID-19 pandemic in the areas of Insolvency, Corporate, Civil and Criminal Procedure Law. Ministry officials are working through the weekend with the goal to get the legislation finalized by both chambers of parliament as early as possible next week.
Businesses are currently facing unprecedented challenges. DAC Beachcroft is advising the NHS on covid-19 issues, as well as many corporate clients on the business issues arising out of the pandemic, particularly in relation to employees, insurance, continuity and cyber security.
This year marks the 30th anniversary of the introduction of the examinership framework in Ireland and given the current challenges facing businesses, 2020 could be the year that the process comes into its own to assist struggling but otherwise viable companies and, very importantly, to maintain employment.
Brexit, inconclusive election results and an unprecedented partial lockdown in an effort to combat against the spread of COVID-19 has created enormous challenges for certain companies who had been thriving in an erstwhile rapidly improving economy.
Im Zuge der „Corona-Krise“ benötigen viele betroffene Unternehmen dringend staatliche Unterstützung, um akute Liquiditätsengpässe zeitnah abwenden zu können und um ihre Eigenkapitalquote zu stärken. Der Bund hat dazu nun das Gesetz zur Errichtung eines Wirtschaftsstabilisierungsfonds (WStFG) erlassen. Das WStFG sieht die Errichtung eines Wirtschaftsstabilisierungsfonds (WSF) zur Stützung der Realwirtschaft vor (Ausführliche Informationen zum WSF wie bspw. zu Antragsberechtigungen, Voraussetzungen und Zuständigkeiten finden Sie u.a.
The Netherlands is planning to adopt new restructuring legislation, allowing for court confirmation of extrajudicial restructuring plans (Wet Homologatie Onderhands Akkoord, or WHOA). The bill combines features of the U.S. chapter 11 procedure and the English Scheme of Arrangement. With its broad range of jurisdiction and flexibility, the "Dutch Scheme" will prove to be an effective addition to the restructuring toolbox for both Dutch and non-Dutch entities, for groups of companies, and with the possibility of automatic recognition throughout the European Union.
In this week’s update: an update from the Parker Review on board ethnic diversity, the Investment Association sets out its 2020 priorities and a few other items.
Foreword Head of Real Estate Disputes Mathew Ditchburn considers what 2020 may have "in store". Five minutes with: Hebe Morgan We chat to real estate associate Hebe Morgan who is currently on secondment at M&G Real Estate.
CVA Special: Mathew Ditchburn reports
In this week’s update: The court finds that selfdealing by a director and a share buyback were void, the PERG report on compliance with the Walker Guidelines, the BVCA and EY review private equity portfolio company performance, the QCA reports on AIM company corporate governance and a few other items.
Court confirms self-dealing by director was void
Timing and Objectives
An EU directive aimed at harmonizing Member State restructuring and insolvency laws (the “Directive”) was published in the Official Journal on June 26, 2019 and entered into force on July 16, 2019. Member States are required to adopt and publish compliant laws and regulations by July 17, 2021.