Welcome to the sixth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.
A number of key decisions from the English courts in 2021 illustrate the litigation trends that are likely to have implications for the financial services industry in 2022 and beyond (see below “Cases to watch in 2022”).
Market misconduct and mis-selling
In the first of a series of claims issued by ECU Group Plc in relation to alleged wrongdoing in the foreign exchange markets by a number of banks, the High Court held that:
Welcome to the first edition of Restructuring Watch from the Akin Gump financial restructuring team in London. These editions will provide short and accessible updates on key legal developments in the European restructuring and insolvency world.
The Indian Restructuring Growth Story
On the 19th of August 2021, the English High Court sanctioned a Part 26A restructuring plan proposed by the administrators of Amicus Finance plc (in administration) (“Amicus”) for the company’s solvent exit from administration, enabling the company to be rescued as a going concern (the “Restructuring Plan”).
We examine what impact the Court of Justice of the European Union decisions in Hampshire v PPF and PSV v Bauer will have on PPF compensation post-Brexit
An important decision for employers and administrators has been handed down by the High Court in the case of R (Palmer, Forsey) v Northern Derbyshire Magistrates' Court [2021] EWHC 3013. The Judgment acts as a stark reminder to employers and company personnel about the criminal liability they can face for failing to notify the Secretary of State of proposed collective redundancies as well as confirming that that an administrator can be prosecuted personally.
Background
Temat informatyzacji postępowań sądowych jest w Polsce obecny niezmiennie już od wielu lat. Środowiska prawnicze są w zasadzie zgodne co do tego, że zmiany w tym zakresie są konieczne i powinny nastąpić jak najszybciej[1]. Jako główne zalety informatyzacji postępowań wskazuje się uproszczenie procedur, minimalizację kosztów oraz oszczędność czasu.
On 11 November 2021, the CJEU (C-340/20) ruled that the freezing of assets and economic resources under the EU restrictive measures (economic sanctions) precludes protective measures by creditors. Therefore, creditors should proactively seek protective measures or rely on a sanctions regime’s exception.
Restrictive measures
Introduction
The Insolvency & Bankruptcy Code, 2016 (“IBC”) has been one of the most talked about debated, evolving legislations of recent times. It has brought with itself, a sea change in the manner that debt is resolved in India. From its very advent in late 2016, IBC has been embroiled in long fought interpretational tussles which have resulted in various gaps being filled in by the Supreme Court of India. In fact, the legislation itself has undergone several and frequent amendments.