Political and economic uncertainty in the aftermath of the referendum result in the UK has dampened sentiment on the high street and hit consumer confidence.
According to the National Institute of Economic and Research, there is an "even" chance of Britain falling into recession by the end of next year and the Bank of England has significantly reduced its growth forecast for 2017.
The Ministry of Justice is consulting on a revised draft Pre-action Protocol for Debt Claims (Debt Protocol) after an earlier version was lambasted by representatives of the credit industry as being totally disproportionate. The new version attempts to strike a more proportionate balance between the needs of creditors, debtors and debt advisors.
Gaining access to development land in the PRC has often been linked to government connections and dubious business practices. However, a number of investigations into the allegedly corrupt activities of high-level real estate executives in China have recently taken place.
Bankruptcy Code protects certain Ponzi scheme payments. The trustee for debtor Bernard L. Madoff Investment Securities (BLMIS) sued to avoid fictitious profits paid by BLMIS to hundreds of customers over the life of the Madoff Ponzi scheme. The defendant customers moved to dismiss certain of these avoidance claims pursuant to 11 USC Sec. 546(e), which shields from recovery securities-related payments made by a stockbroker. The trial court agreed that Sec. 546(e) barred the claims, dismissing them, and the Second Circuit affirmed.
We are experiencing a quiet restructuring market and relatively high corporate survival rates at a time when historical trends would suggest a period of increasing insolvency activity.
A Creditor registered his claim into insolvency proceedings against the debtor within 30 days of the publication of the resolution on the debtor's bankruptcy in the insolvency register. The Creditor´s insolvency application regarding the claim was refused by the insolvency court because the resolution on the debtor´s bankruptcy had been previously published in the file of the debtor’s spouse’s insolvency proceedings.
2022. július 1. napján lép hatályba az új szerkezetátalakítási törvény, amely megoldást nyújthat a fizetésképtelenség határára sodródott vállalkozások pénzügyi nehézségeinek korai kezelésére, talpra állításuk ösztönzésére, valamint fizetőképességük helyreállítására. Az új, fizetésképtelenséget megelőző szerkezetátalakítási eljárás leginkább a csődeljárás alternatívája lehet; ebben az esetben azonban az adós alapvetően maga döntheti el, hogy mely hitelezőivel tárgyal és kiket von be a folyamatba.
The COVID-19 (coronavirus) pandemic triggered – in addition to health and human tragedies – the most serious economic crisis since World War II. This economic crisis has led to financial difficulties for many German companies – especially in the tourism, gastronomy, aviation, hotel, culture and event sectors. COVID-19 also affects the overall economic development in many other sectors.
The Corporate Insolvency and Governance Act 2020 makes the most significant changes to UK insolvency law in a generation. It had a rapid passage through the UK parliamentary process, making its way from first publication on 20 May 2020 to Royal assent on 25 June 2020 in just over five weeks. This article provides a brief overview of the key measures introduced by the Act (both permanent and temporary) and summarises the amendments made to the Act during its progress through parliament. It also provides links to our further, more in-depth, analysis.
The Corporate Insolvency and Governance Act 2020 makes the most significant changes to UK insolvency law in a generation. It had a rapid passage through the UK parliamentary process, making its way from first publication on 20 May 2020 to Royal assent on 25 June 2020 in just over five weeks. This article provides a brief overview of the key measures introduced by the Act (both permanent and temporary) and summarises the amendments made to the Act during its progress through parliament. It also provides links to our further, more in-depth, analysis.