The performance of the UK manufacturing sector is one of the key indicators of the health of the UK economy as a whole. To what extent is the current stagnant growth in that sector a result of the impending EU referendum?
The Ministry of Economic Development has released a discussion document (together with a Q & A) which considers a range of potential changes to the fees and levies that fund the institutions that regulate New Zealand's corporate environment and financial markets.
On June 30, 2016, Congress passed and President Obama signed into law a new piece of federal legislation that will govern the restructuring of U.S. territories: Public Law No: 114-187. Although not limited to the Commonwealth of Puerto Rico, enactment of the new law, entitled the Puerto Rico Oversight, Management, and Economic Stability Act or “PROMESA,” represents a bipartisan achievement in the context of a worsening fiscal crisis in Puerto Rico.
On 19 August 2011, the Ministry of Economic Development of the Russian Federation published on its official website a draft order on establishing the procedure for entering information on bankruptcies in the Unified Federal Register (the "Order").
Specifically, the Order:
On 9 August 2011, the Ministry of Economic Development and Trade of the Russian Federation published a draft law aimed at increasing the effectiveness of protecting first and second priority creditor rights (the "Draft Law").
Specifically, the Draft Law:
Infrastructure & Economic Development
This briefing sets out some of the key points of the 2016 Programme for
Government, which includes a wide range of policy proposals in areas
such as infrastructure and economic development, public administration,
constitutional change, financial services, taxation and employment law and
industrial relations.
It is expected that the Government’s Legislation Programme will be
published soon, setting out the legislation that the new Government will
promote in order to give effect to the Programme for Government.
Winding up a Jersey trust company on just and equitable grounds
A winding up on 'just and equitable' grounds is a fast evolving remedy which allows a company to avoid a désastre. As in England and certain other jurisdictions, it is a flexible tool, with certain generally accepted grounds for the court exercising its discretion to grant the remedy, such as the need for an investigation into the affairs of the company concerned. Unlike désastre, it is not dependent on the cash flow insolvency of the company concerned and the Royal Court has a broad discretion to tailor the powers it may grant a liquidator to the needs of the situation.
In light of recent reports released to the market, a lender in the leveraged loan market would be forgiven for indulging in some cautious optimism. New-issuance in July aggregated to €9.5 billion - a 13-month high. The year-to-date leveraged buy-out volume of €10 billion (38 deals) compares favourably with the €2.2 billion of volume (13 deals) for the same period in 2009. Against this backdrop, however, lenders should consider the recently released statistics from the Insolvency Service, and other economic data, which suggest that the economic outlook remains uncertain.