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.
Less than an hour after an oxygen tank exploded on Apollo 13, mission control told the crew to isolate a small tank, containing 3.9 pounds of oxygen.[1] Days later, that tank provided the oxygen to keep the crew alive while landing back on Earth.
If they had left that tank for even another hour the oxygen in it would have been almost gone.
1. Introduction
La justicia europea se pronuncia sobre la aplicación de las garantías laborales en la transmisión de empresas cuando cedente y cesionario prevén la posterior desaparición del cesionario por liquidación. Nada impide segregar una parte de la empresa y posibilitar su autonomía, pero mantener la dependencia y provocar su quiebra resulta contrario al principio de estabilidad que rige el transfondo laboral de toda transmisión empresarial.
The European Parliament's proposal of 28 March 2019 for a Directive of the European Parliament on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and restructuring proceedings (hereinafter, the "Directive") aims at developing national preventive restructuring frameworks.
With the Brexit deadline fast approaching, the ByrneWallace Brexit team address various issues which will impact upon businesses either trading with or through the UK, or with suppliers in the UK, and/or with UK staff based in Ireland or staff in the UK.
In this issue of our Spotlight on Brexit Series, we address Corporate Governance.
Critical issues for businesses to consider in the event of a no-deal Brexit or where transitional arrangements fail to ensure continuity in the treatment of UK companies as EEA undertakings include: