EU Regulation No 655/2014 of the European Parliament and of the Council to facilitate cross-border debt recovery in civil and commercial matters, in force since 18 January 2017.
It has been over a year now since the European Account Preservation Order (EAPO) came into force. However, a great number of people are still not aware of its purpose and benefits. Thus, this article shall serve as a short reminder.
Applicability
FINANCIAL REGULATORY DEVELOPMENTS FOCUS APR 26, 2018 ISSUE 16/2018 In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website. The latest Governance & Securities Law Focus is available here.
EU (Withdrawal) Bill may be passed by UK Parliament. Its purpose is to repeal the European Communities Act 1972 and, so far as possible, import EU law that would otherwise fall away into UK law
The Construction (Retention Deposit Schemes) Bill is expected to have its second reading debate
On 23 April 2018, the European Commission opened an in-depth investigation to determine whether the 900 million euro loan granted to the airline Alitaliacomplies with European Union rules for aid to companies in difficulty.
MAY 23, 2018/20 FINANCIAL REGULATORY DEVELOPMENTS FOCUS Proxima Nova A ExCn 35pt In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and corporates. Click here if you wish to access our Financial Regulatory Developments website. IN THIS ISSUE AML/CTF, Sanctions and Insider Trading ..............................................................................................................
On March 14, 2018 the European Commission presented the Second Progress Report on the reduction of non-performing loans (“NPLs”). The report comprises a memo and a factsheet, whose versions in English can be obtained on the website of the European Commission, which also distributed a press release (English version).
An effective and well-equipped insolvency and restructuring regime gives confidence to investors and financiers, enabling credit to flow through to businesses and boost economic activity, growth and innovation.
Obvious issues which come up in a cross-border insolvency context include the jurisdiction / court in which proceedings should be commenced (choice of jurisdiction), which law should be applied to resolve a particular problem (choice of law) whether the judgment of one court will be recognized and enforced in another court (recognition) and how parallel insolvency processes relating to the same debtor should interact (co-operation).
The EIR
(La Sentencia del Tribunal de Justicia de la Unión Europea de 20 de septiembre del 2017)
El Tribunal de Justicia de la Unión Europea establece las condiciones para no considerar ayuda de Estado la decisión de una autoridad pública cuando se comporta como lo haría un acreedor privado en una economía de mercado al aceptar una quita en un procedimiento de convenio de acreedores...
1. El supuesto de hecho
This paper addresses the issues for international recognition of reconstruction and insolvency proceedings affecting international banks raised by the United Kingdom’s decision to leave the European Union, and considers what the United Kingdom and the European Union and its member states could do to address the potential loss of recognition and cooperation, as well as possible wider international initiatives. The relation of this issue to the World Trade Organization’s General Agreement on Trade in Services is also considered.