After a lengthy consultation period, the Pre-Action Protocol for Debt Claims (PAPDC) has now been finalised and will come into force on 1 October 2017. This protocol will apply to lenders who are seeking payment of a debt from an individual/ sole trader, as a debtor or guarantor. Now is the time to update your systems and procedures to accommodate the new protocol requirements.
What is required?
The United States Bankruptcy Court for the District of Delaware recently issued an opinion that could mean that directors and officers of insolvent entities face liability for damages caused by the failure to timely file for bankruptcy protection.
In Berryman v Zurich Australia Ltd [2016] WASC 196, the Supreme Court of Western Australia held a bankrupt, Berryman, was able to maintain legal action in his own name, claiming TPD insurance benefits from Zurich.
The Bankruptcy Act 1966 (Cth) relevantly provides:
The Federal Court of Justice (Bundesgerichtshof – BGH) on 5 March 2015 issued a decision (case no. IX ZR 133/14, available here) that is of immense relevance for all creditors and debtors that face the need of a subordination agreement (Rangrücktrittvereinbarung) under German law.
Proprietary trading. Reuters reported that Latvia, which currently holds the European Union presidency, opposes a proposal that would prohibit European banks from engaging in proprietary trading. (3/31/2015) Proprietary trading.
Die Frage der Kompetenzverteilung zwischen dem Vorstand und der Hauptversammlung der AG ist ein Dauerthema des Aktienrechts. Der Autor entwickelt ein eigenes Konzept zur dogmatischen Begründung ungeschriebener Hauptversammlungskompetenzen und untersucht, ob für den Börsenrückzug und die fakultative Insolvenzantragstellung eine Zustimmung der Hauptversammlung erforderlich ist. Der Autor lehnt die Frosta-Entscheidung des BGH ab und vertritt die Ansicht, dass der Börsenrückzug (reguläres Delisting wie auch das Downlisting) wertungsmäßig mit den in § 119 Abs. 1 Nr.
- INTRODUCTION
S4 of the PPSA, provides that "except as otherwise provided" in the PPSA, the PPSA does not apply to a number of enumerated liens, charges or other interests, including as set out in s4(a) "a lien, charge or other interest given by an Act or rule of law in force in Alberta".
MARY BUTTERY WINS IMPORTANT CASE FOR CENTURY SERVICES INC.
Pursuant to the Companies (Miscellaneous Provisions) (COVID-19) Act 2020 (the COVID Act), “exceptional provision” to the operation of certain parts of the Companies Act 2014 (the Act) was made for a specific period of time, which period could be extended by order of the Government (the Interim Period). Yesterday, the government announced that it was extending the Interim Period until 31 December 2022.
A week is often described as a long time in politics, and so also (it seems) with the restructuring market.
Last week, we saw significant strides forward with: