Insurance Quarterly Legal and Regulatory

Update

Period covered: 1 July 2018 30 September 2018

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Table of Contents

1. El supuesto de hecho 

Una sociedad eslovaca productora de bebidas alcohólicas, que había conseguido un aplazamiento de su deuda fiscal previa constitución de garantías, no pudo hacer frente a los pagos pactados y, en consecuencia, presentó la solicitud de iniciación de un procedimiento de convenio de acreedores ante el tribunal regional competente, proponiendo el pago del 35 % de la deuda, que ascendía a un total de 21,4 millones de euros, de los cuales 21,3 correspondían a la deuda fiscal.

Im Rahmen der Globalisierung sind Unternehmen regelmig nicht nur im Grndungsland, sondern in mehreren Rechtsordnungen ttig. Fr den Fall, dass ein Unternehmen scheitert, sind daher bestimmte Regeln erforderlich, die ein eventuelles Insolvenzverfahren vorhersehbar machen. In der EU gibt es derzeit zwei Verordnungen1, die fr die Zeit vor bzw. die Zeit ab 24.06.2015 gelten.

Grenzberschreitende Insolvenz in der EU

In the context of globalisation, companies are often active not only in the country of incorporation but also in several other legal systems. If a company fails, there is a need for rules that make the insolvency proceedings predictable. In the EU there are two current regulations1 to take into account, one applicable before and one after 24.06.2015.

Cross-border insolvency in the EU

It seems as though every one of our much loved high street restaurants are currently having to consider closing restaurants as part of their Company Voluntary Agreement (CVA) as restaurants struggle with their finances. But what is a CVA and how can they help the casual dining sector survive the current high-street crisis?

What is a Company Voluntary Agreement or CVA?

Over the Bank holiday weekend, the UK government announced that it intends to introduce new legislation to implement certain measures (detailed below) as soon as parliamentary time permits.

Germany needs more professional insolvency courts: this is the opinion of more than 90 per cent of the experts surveyed in the insolvency law analysis “InsO Survey 2018” which has now been presented by the management consulting firm McKinsey & Company and the law firm Noerr.

MAR 8, 2018 ISSUE 9/2018 FINANCIAL REGULATORY DEVELOPMENTS FOCUS Proxima Nova A ExCn 35pt In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website. IN THIS ISSUE AML/CTF, Sanctions and Insider Trading ..............................................................................................................

ENGLAND AND WALES PREVIEW OF 2018 January 2018 LEGAL GUIDE HERBERT SMITH FREEHILLS 01 page CONTENTS Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 02 Brexit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 03 Competition, Regulation and Trade . . . . . . . . . . . . . . . . . . 05 Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 07 Corporate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 08 Dispute Resolution . . . . . . . .

With miserable Christmas trading figures exacerbating an already challenging climate for UK retailers, a growing number of companies are turning to company voluntary arrangements ("CVAs") as a possible source of respite. Most commonly used by retailers and other UK companies to impose improved lease terms on their landlords, CVAs look set to come back into fashion.

Market Backdrop