Thomas v Frogmore: COMI Factors and Improper Motive Reviewed

This article was originally published in International Corporate Rescue, Volume 14 Issue 5, 2017.  Please click here to read the original article.

The new Data Protection Bill has already had its first and second readings in the House of Lords and will replace the UK’s current Data Protection Act 1998 (DPA) along with the general Data Protection Regulation (GDPR) on 25 May 2018. Also whatever happens regarding Brexit, the UK has committed to retaining the same principles and laws regarding Data Protection whether or not the UK is in the EU. UK companies should now be taking appropriate steps to ensure that they will be compliant with the new GDPR requirements.

Why the importance?

Much has already been written about the proposal for the “Second Chance” directive (“Proposal“) published in November 2016 which is still being debated by the EU bodies – and rightly so. Harmonisation of insolvency law across the EU is needed as one in four insolvency proceedings is a cross-border insolvency and creditors need to know what to expect in other EU countries and that the courts and practitioners cooperate in an efficient way.

PRA updates remuneration policy statement for PRA category 1 and 2 firm • PRA publishes CP24/17: Solvency II: internal models - modelling of the matching adjustment • PRA publishes CP23/17: Financial management and planning by insurers • Wholesale insurance brokers market study launched by the FCA • The FCA's future approach to consumers • PRA publishes CP22/17: Solvency II: Supervisory approval for the volatility adjustment • FCA publishes PS17/24: Handbook changes to reflect the new regulatory framework for insurance-linked securities - feedback to CP16/34 and CP17/3 and near-final rules

Summer is over and Autumn is truly upon us bringing back many of the winds that seemed die down in the golden summer of Macron. Eurosceptic parties have made electoral gains in Germany and in Austria and the same has now happened in the Czech Republic. The hope that Macron and Merkel could push forward a strong integrationist agenda have faded somewhat as the German liberal party (and possibly the German Supreme Court) fight against common budgets and fiscal transfers.

Although many sectors of the Irish economy are experiencing the benefits of economic upturn, a number of Irish homeowners are still dealing with the after-effects of the recession. In this context, some defaulted homeowners are defending repossession proceedings by banks and alternative lenders relying on the EU Directive on Unfair Contract Terms ("UCTD").

Introduction

November 2017 On 27 October the Treasury Committee published a report on the Solvency II Directive and its impact on the UK insurance industry. The report is critical of the extent of disagreement between the PRA and the industry. It makes a number of recommendations, the majority of which are aimed at the PRA. Some of these recommendations were preempted by the PRA’s announcement on 25 October of a series of improvements it is intending to make to implementation of Solvency II and its publication of a consultation paper on the matching adjustment.

Une ordonnance, n° 2017-1519 du 2 novembre 2017, porte adaptation du droit français au nouveau règlement européen relatif aux procédures d'insolvabilité (Règlement (UE) n° 2015/848 du 20 mai 2015).

Le nouveau Règlement, révisant le règlement (CE) n° 1346/2000 du Conseil du 29 mai 2000, est entré en vigueur dans les États membres le 26 juin 2017.

L'objectif de l’ordonnance est de :

First published in Business Law Magazine (http://www.businesslaw-magazine.com/)