MONTHLY NEWSLETTER SERIES MARCH, 2024 | VOL. X VAISH ASSOCIATES ADVOCATES LEGALAXY WWW.VAISHLAW.COM LEGAL MAXIM Delegatus non potest delegare: ‘A delegate cannot further delegate’ MONTHLY NEWSLETTER SERIES MARCH, 2024 | VOL.
Introduction
Throughout the year, we have been keeping you up to date on noteworthy developments across the region with our Regional Round-up Publications. As we enter 2024, we are pleased to share with you our 2023 year-in-review of the Regional Round-up for our Regional Offices in the Rajah & Tann Asia network.
This overview includes case law since mid-2022 and provides an overview of legal amendments that have a practical impact on national and international contracts.
Insolvency-based rescission clauses
The last 12 months have seen a steady increase in restructuring and stressed or distressed financing transactions in the European market across a range of sectors, including tech, real estate, hospitality, manufacturing and retail.
1. SOLVENCY II 1.1 Solvency II Directive review: ECON agrees position on Solvency II Directive review On 27 July 2023, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) published a report on its agreed position on the Proposal for a Directive amending the Solvency II Directive1 (Proposed Directive).
By following certain steps and focusing on relevant courses of action, directors of startups can leverage the Safe Harbour provisions to increase their chances of navigating financial difficulties and achieving a better outcome for their company.
KENYA
Economic overview
TABLE OF CONTENTS SOLVENCY II EIOPA INSURANCE DISTRIBUTION DIRECTIVE (IDD) PRIIPS CENTRAL BANK OF IRELAND ANTI-MONEY LAUNDERING (AML) AND COUNTERING THE FINANCING OF TERRORISM (CFT) DATA PROTECTION FINANCIAL SANCTIONS SUSTAINABILITY MISCELLANEOUS Insurance | Quarterly Legal and Regulatory Update | 1 April 2023 – 30 June 2023 © 2023 Dillon Eustace LLP. All rights reserved. 2 11723734v1 1.
On October 19th, the Wall Street Journal reported that the electric vehicle startup Mullen Automotive Inc., gained court approval to buy an Indiana manufacturing plant and assets from Electric Last Mile Solutions for $92 million. Such deal, which boosted Mullen’s share prices by 64%, includes Electric Last Mile Solutions’ manufacturing plant in Mishawaka, Indiana and its inventory and intellectual property.
Between the lines... For Private Circulation-Educational & Information purpose only Vaish Associates Advocates… Distinct. By Experience. I. NCLT: Corporate debtor cannot be sent into liquidation just because liquidation value is more than the value of the resolution plan. The National Company Law Tribunal, Kolkata (“NCLT”) has in its order dated April 6, 2022, in the matter of CFM Asset Reconstruction Private Limited v. S. S. Natural Resources Private Limited and Another [IA No. 538/KB/2021 in CP (IB) No.