On 9 November 2017, in a rare example of a contested recognition hearing, His Honour Judge Paul Matthews granted recognition of Agrokor’s extraordinary administration (EA) as a foreign main proceeding under the Cross-Border Insolvency Regulations 2006 (CBIR).

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

These days, the threat of counterparty insolvency looms over the energy sector: whether it is a natural disaster or precipitous decline in the price of oil, perhaps no industry is more susceptible to the financial decline and potential default of contracting parties.

June 2017

Contents

Introduction 1. Better accessibility to Singapore's corporate rescue and restructuring framework for foreign companies 2.Chapter 11 style - Rescue financing / DIP financing 3.Enhanced moratoriums with extra territorial effect 4.Increased disclosure, cram-downs and pre-packs 5. The adoption of UNCITRAL Model Law Conclusion Your contacts

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2017 Singapore Insolvency and Restructuring Reforms June 2017

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Introduction

Back to the future – but no idea when What Brexit could mean for the Anglo-European restructuring industry What happens now? On 23 June 2016, the UK voted to leave the European Union. The nature of the UK’s relationship with the EU and the rest of the world, post-Brexit (if and when Brexit happens), is uncertain. So what do we know? Actually, we do know several things: – Legally speaking, the referendum result has no immediate effect. It is only advisory.

Hogan Lovells Corporate Insurance Newsletter June 2014 UK  PRA publishes PS5/14: PRA Rulebook  PRA publishes statement of policy on the financial stability information power  The PRA’s approach document to insurance supervision updated  PRA publishes SS7/14: Reports by skilled persons  PRA publishes statement of policy on the use of PRA powers to address serious failings in the culture of firms  PRA publishes its annual report and accounts 2014  FCA publishes a market study into retirement income: revised terms of reference  FCA publishes FG14/6 - Annuity comparison websites: financ

ISDA is pleased at how the industry infrastructure for CDS worked in the context of the Lehman default and settlement. It also pointed out the misperceptions about the role of CDS in the financial crisis.

Preferred maritime liens can raise challenging issues during maritime disputes—especially during bankruptcy. Creditors may encounter problems when filing for seizure due to their unique nature, with venue is becoming a determining factor.

Stefan Ingves has spoken on the Basel Committee’s priorities for the next year. He focused on:

 FSA has set out its standards for “key attributes” of effective resolution regimes. The standards require each jurisdiction to: