1. Introducción
En la edición de este mes de abril destacamos la ya famosa sentencia de la Audiencia Provincial de Valencia del 27 de marzo que declara la ineficacia total del plan de restructuración de Das Photonic, S.L.
Sobre esta sentencia se ha hablado mucho porque es la primera declaración de ineficacia de un plan de restructuración.
La sentencia tiene casi 150 páginas pero reseñamos abajo los puntos clave de su contenido que hemos extractado porque creemos pueden servir de lección para casos futuros.
On Tuesday 23 April 2024, Macfarlanes hosted a roundtable discussion on the EU Directive on Restructuring and Insolvency of 20 June 2019 (EUR 2019/1023, Directive) and the method of, and tools offered by, its implementation across a number of EU member states and equivalent domestic legislation – namely Part 26A of the Companies Act 2006 (Part 26A) and restructuring plans (for more on restructuring plans under Part 26A of the Companies Act 2006, see our more in-depth article on “
Several myths and stereotypes surround headcount restructuring projects in Europe. Headcount restructurings must factor in local labor law and co-determination rights, which vary significantly across the continent. As a result, multinational employers often fear the cost and complexity of dealing with restructurings at their European operations and subsidiaries.
Typical drivers of anxiety include:
Regarding the draft Directive proposed by the European Commission that harmonises facets of insolvency law, it is worth noting that the draft Directive does not prevent EU member states from maintaining or adopting provisions that offer greater protection to creditors than those outlined in the Directive. Since the existing Croatian law framework on contestation rights provides numerous and detailed rules that go beyond the draft Directive, its implementation is not expected to require extensive or substantial modifications.
Insolvency proceedings and avoidance actions play a significant role in safeguarding creditors' interests and maximising the insolvency estate in Türkiye. The European Commission's Proposal for a Directive (COM (2022)702) aims to harmonise contestation rights in insolvency across EU member states. Although Türkiye is not an EU member states, Türkiye has similar avoidance actions regulated under its own insolvency legislation, the Turkish Enforcement and Bankruptcy Law (EBL).
Overview
On 7 December 2022, the European Commission published a draft directive aimed at harmonizing certain aspects of insolvency law. The intention behind this directive is to mandate the inclusion of "pre-pack proceedings" in national insolvency laws across the European Union ("EU"). Although Türkiye is not a member of the EU and does not have specific rules for governing pre-pack insolvency sales, it does have procedures that are similar, if not an identical, to pre-pack proceedings.
In this article we will take a closer look at Türkiye's pre-pack-like institution.
The new law emphasises preventive restructuring, cross-border cooperation and equitable treatment of creditors
The European Union has recognised the need for harmonised insolvency laws across its member states and has taken a significant step forward with the introduction of the new EU Restructuring Directive ((EU) 2019/1023).
This directive aims to establish a common framework for insolvency proceedings, thereby enhancing cross-border cooperation and safeguarding the interests of all stakeholders involved.
Hat ein Erwerber von Geschäftsanteilen an einer Immobiliengesellschaft ein Sonderkündigungsrecht für bestehende Miet- oder Pachtverhältnisse?
Aufgrund der aktuellen Situation sollten Unternehmen ihre Geschäftspartner im Blick behalten, um zu verhindern, dass deren finanzielle Krise zur eigenen wird.
Die Krise von Geschäftspartnern* kann schon vor der Insolvenz unmittelbar wirtschaftliche Auswirkungen auf den eigenen Geschäftsbetrieb haben, wenn Leistungen nicht mehr oder nur unzureichend erbracht oder Rechnungen nicht mehr bezahlt werden.
Currently, Ukrainian legislation does not provide for a separate “pre-pack proceeding” as outlined in the draft EU directive for harmonising insolvency law (“Directive Proposal”). However, selling a business is a legally feasible option under the Ukrainian Bankruptcy Code and related laws, both in a pre-bankruptcy phase and during bankruptcy proceeding.