The European Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114 – MiCA), which entered into force on 29 June 2023, is a significant new regulation that will impact the treatment of cryptocurrencies and digital assets. MiCA requires the European Securities and Markets Authority (ESMA) to develop a series of regulatory technical standards (RTS) and implement technical standards (ITS) and Guidelines. Many of these regulations are to be developed in close cooperation with the European Banking Association (EBA).
I was asked to consider doing a post on Artificial Intelligence (AI). There’s so much already out there, so I decided to ask ChatGPT to “write me an interesting post targeted at a professional audience about the impact of AI to the insolvency and restructuring sector.”
This is what it came back with:
Title: "Harnessing the Power of AI in the Insolvency and Restructuring Sector"
Divorce and Family partner Lisette Dupré and Commercial Litigation partner Elaina Bailes were among 500 lawyers from more than 50 countries who gathered for the AIJA International Young Lawyers’ Congress in Rio between 20 and 26 August. This year’s theme was rethinking the law in four dimensions, which called upon speakers to think more about how the law may develop in the next five years than simply looking at how it stands today.
Selon la Banque de France, les procédures collectives affectant les moyennes entreprises sont en hausse de 85% sur un an. Cette tendance affecte particulièrement les entreprises de la French Tech pour des start-ups qui n’ayant pas trouvé leur modèle économique, se trouvent confrontées à un mur de dettes.
On June 27, 2022, Three Arrows Capital (“3AC”), a crypto hedge fund, commenced liquidation proceedings in the British Virgin Islands and thereafter filed recognition proceedings in, among other countries, the United States and Singapore.
Introduction
The Law Commission published its Report on digital assets on 28 June 2023. It covers discussions on crypto-token collateral arrangements and apportionment of shortfall losses on the insolvency of a custodial holding intermediary.
To summarise, the Law Commission has made various recommendations in the Report, including that:
Indonesia Authors: Jeanne E. Donauw and Hans Adiputra Kurniawan 1. KPPU Regulation No. 3 of 2023 and Government Regulation No. 20 of 2023: New Merger Filing Regulation and Fees The Indonesian Business Competition Supervisory Commission – Komisi Pengawas Persaingan Usaha (“KPPU”) issued KPPU Regulation No. 3 of 2023 (“Reg 3 of 2023”) as a new merger filing regulation, replacing, and revoking the previous regulation on the same matter, namely KPPU Regulation No. 3 of 2019 (“Reg 3 of 2019”).
インドネシア 執筆者: ジェン・エリザベス・ドノウ、ハンス・アディプトラ・クルニアワン 1. 2023 年 KPPU 規則第 3 号及び 2023 年政令第 20 号：新しい企業結合届出規 則及び手数料 インドネシア企業競争監視委員会(Komisi Pengawas Persaingan Usaha)(以下「KPPU｣という。)は、新しい企業 結合届出規則である 2023 年 KPPU 規則第 3 号(以下「2023 年規則第 3 号｣という。)を公布した。2023 年規則 第 3 号は、従前の企業結合届出規則である 2019 年 KPPU 規則第 3 号(以下「2019 年規則第 3 号｣という。)を廃 止し、これに取って代わるものである。以下に、2023 年規則第 3 号の主な要点を簡単に述べる。 (i) 企業結合届出要件：F2F(Foreign to Foreign)取引における地域関連基準 2023 年規則第 3 号によると、全ての取引当事者がインドネシアにおいて資産又は売上げを有する場合にの み、企業結合届出の義務が生じる。これは、取引当事者の 1 者でもインドネシアに資産又は売上げを有する 場合には企業結合届出義務が生じていた 2019年規則第3号に基づく制度と比べて注目すべき変更である。
The Government of Hong Kong continues its push towards favouring digitisation over using hardcopy documents. The new changes to local bankruptcy laws allows: (1) electronic service of statutory demands; (2) using electronic bundles and skeletons for winding-up and bankruptcy applications; and (3) allowing electronic submission of documents to the Official Receiver.
Electronic service of statutory demands: A game changer for creditors and debtors