Am 1. Januar 2025 ist das Bundesgesetz über die Bekämpfung des missbräuchlichen Konkurses in Kraft getreten. Das Bundesgesetz hat auch zu Anpassungen verschiedener Gesetze, darunter des Obligationenrechts und der Handelsregisterverordnung geführt. Nachstehend werden die wichtigsten Änderungen des Obligationenrechts und der Handelsregisterverordnung zusammengefasst. 

Änderungen beim Opting-Out

New rules in the UK allow Companies House to share non-public information with insolvency officeholders and the Official Receiver.

While in many cases there may be limited non-public information available from Companies House that will be useful to insolvency officeholders, this is another tool available to deploy in appropriate cases. It is specifically envisaged to assist officeholders pursuing claims for fraudulent and wrongful trading, transactions at an undervalue and preferences.

Introduction

Dissolution of a company can take place in several ways in the Netherlands. One of these options is turboliquidation, a procedure described in Article 2:19 paragraph 4 of the Dutch Civil Code (BW). The essence of this is that at the time of the dissolution decision, there must no longer be any assets present in the company.

As we enter 2025, we look back on five important decisions that made the news in 2024. Here is the the first case.

Introduction & Key Takeaways

The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have played a large role in corporate debt restructurings for the past several years.

The role and duties of company directors are well established in English law through the Companies Act and case law. These principles are widely applied in many jurisdictions, including the Bahamas, where UK cases about directors’ liability and related issues carry considerable weight.

KEY TAKEAWAYS

• The application process and evidence required by the JFSC for a migration

• Consideration of a migration application by the JFSC

• Effects of granting a certificate of continuance and a migration overseas

The object of this guide is to provide clients of Walkers with information on the process involving the migration of companies to and from Jersey.

Migration to Jersey

The National Company Law Tribunal (“NCLT”) is an adjudicating authority in India responsible for deciding matters related to amalgamations, mergers, insolvency and restructuring processes. In deciding such matters, one critical function of the NCLT is to balance the commercial objectives of companies with the interests of public stakeholders and regulators, ensuring that corporate restructurings do not compromise public interest.

A recent decision of the Commercial Sheriff Court at Perth in the case of Priority Construction UK Limited v Advanced Material Processing Limited, reported at [2024] SC PER 48, has confirmed the position in relation to the proper basis for liquidation petitions to be brought against debtor companies. The moral of this story is that liquidation petitions should not be used to try to recover a validly disputed debt - something that all creditors and practitioners should be alert to.

The facts

BACKGROUND