The Fiduciary Duties of Directors
When a company enters the zone of insolvency (the so-called “twilight zone”), conflicts of interest between the company, its shareholders and the different stakeholders, such as creditors, are ignited and the pressure on directors for contradictory forms of action is intensified.
Judgement No. 362/2015 - Official Gazette No. 186/2015, Series II of 09/23/2015
The Constitutional Court ruled unconstitutional the provision of Article 100 of the Insolvency and Corporate Recovery Code, approved by Decree-Law No. 53/2004, of March 18, if interpreted as the declaration of insolvency provided therein suspends the limitation deadline of tax debts attributable to the responsible subsidiary responsible person according to the tax procedure.
Judgment of the Supreme Court of 08/10/2015
On December 28, 2013, the new Electricity Sector Act (Act 24/2013, of December 26) or “LSE” came into force.
The LSE maintains the essence of the rules established under Royal Decree- Law 9/2013, of July 12. Existing renewable energy plants will receive the market price and will be entitled to additional remuneration that, based on investment costs and standard operations costs, will enable them to achieve certain profitability.
Today’s U.S. Supreme Court decision in Commonwealth of Puerto Rico v. Franklin California Tax-Free Trustputs an end to one of Puerto Rico’s multi-pronged efforts to deleverage itself.
Insolvency that stems from the obligations assumed by a joint venture may concern any of the associates. Such proceeding, especially when it has an international dimension, requires a broader perspective on some of the requirements set forth by law with respect to the initiation and application of the proceeding.
During Thursday's meeting, the Romanian Government approved a draft Government Ordinance regulating certain fiscal-budgetary measures (Draft GO). The Draft GO tackles upon various matters such as (i) restructuring measures of budgetary duties outstanding as at 31 December 2017,(ii) amending certain provisions of the Romanian Fiscal Code and of the Romanian Fiscal Procedure Code, or (iii) repealing certain legislative provisions. Additionally, the Draft GO aims to amend particular provisions of Law no.
Hogan Lovells Publications | 27 March 2020
Coronavirus FAQ: Key legal considerations for Russia
Moscow authorities strongly encourage employers to introduce remote working (work from home) regime where possible. Please make sure you carefully document the new working regime in the addenda to the employment contract or have special internal policy governing this.
During his national address on 2 April, President Putin announced his decision to prolong the initial non-working days from 4 April to 30 April 2020 inclusive in order to fight against the spread of COVID-19. He signed a new Executive Order* providing for this.
В ходе своего обращения к гражданам 2 апреля президент В. В. Путин объявил о своем решении продлить первоначально установленный режим нерабочих дней с 4 апреля по 30 апреля 2020 года включительно. В этих целях президентом был подписан новый указ, предусматривающий соответствующие меры.
The confirmed number of persons in Russia infected with SARS-CoV-2/Covid-19 (Corona) exceeds 6,000. Many people and enterprises are affected by non-working days, lock down measures and the resulting direct and indirect impact on work, business and finances. This summary highlights some recent legal issues in connection with the Corona crisis in Russia.
Quarantine and lock down measures