Solicitors’ Assumption of Responsibility: Miller v Irwin Mitchell LLP [2023] EWCA Civ 53
There was good news for travel solicitors this week, with the Court of Appeal giving judgment for the solicitors in Miller v Irwin Mitchell.
In the recent case of Just Trays Ltd v Emu Products Ltd [2024] EWHC 29 (Ch) (12th January 2024) the High Court was required to consider this type of application. David Garner reports on the case below.
When a company owes a party money, one option open to it might be to issue a winding up petition against the debtor company.
Bankruptcy law has always been an interesting area to practice and study in China. Having nominally a “socialist market economy” as per its Constitution, China allows its private sector to operate relatively freely within regularly re-defined boundaries but has a strong state-owned sector that comprises about half of the entire economy. Adding constant concerns about social stability in the country of 1.4 billion people, the rules for companies going into insolvency must be a careful balance between capitalist “freedom to fail” principles and governmental control over the economy.
As the Maryland legislative session begins to heat up, we have been tracking several bills that would impact financial services providers. One bill of interest is House Bill 254, titled: Commercial Law – Credit Regulation – Predatory Loan Prevention (True Lender Act).
China gehört zu unseren wichtigsten Handelspartnern. Ein großes Handelsvolumen birgt jedoch Risiken. Umso wichtiger ist es, die eigenen Rechte zu kennen.
The insolvency of the SIGNA Group is the largest ever insolvency in Austria with debts reportedly exceeding EUR14 billion.
Recently, the three largest holding companies of the group started debtor in possession restructuring proceedings which allowed management to continue the day-to-day running of the businesses during insolvency proceedings. Due to an error in the timing of the proceedings, the non-operationally active top holding company (SIGNA Holding) was forced to end self-administration.
The timing problem
The UK government has updated the 30-year-old special administration regime for water companies making it possible to rescue water companies.
The new legislation (plus two draft instruments) aims to modernise water company insolvency legislation in the face of the growing challenges in the industry including higher operating costs, claims over sewage pollution and significant debt burden (Thames Water owes £18.3 billion).
New special administration regime
Czech Republic has recently implemented the Act on Preventive Restructuring (the Act), with effect from 23 September 2023, which offers companies in financial difficulty a chance to restructure their assets, liabilities, and capital structure.
Initiation
The preventive restructuring process may be initiated by a company if it:
Our analysis of a recent court judgment in the ongoing liquidation of the high profile crypto-asset hedge fund Three Arrows Capital is by Nicholas Brookes and Romauld Johnson, part of Ogier's BVI team representing the joint liquidators.
Read our update on crypto insolvency issues from Three Arrows, which illustrates implications of the judgment including
一、前言
随着现代企业制度的不断发展，规范公司架构及配套体系的需求不断增强，同时考虑到要切实维护公司、股东、债权人、职工等多方主体的合法权益，公司法在此背景下历经数次修订。2023年12月29日，全国人大常委会审议通过了最新修订后的《中华人民共和国公司法》（下称“新公司法”），并将于2024年7月1日起施行。新公司法进行了多方面的修改，将对公司破产、解散等相关业务产生新的要求和影响。本文以此为视角，立足于当前公司破产、解散业务之实践，简要分析新公司法对实务可能产生的影响。
二、新公司法的主要修订及对公司破产或解散的影响
1. 强化破产申请对职工意见的关注
现行公司法
新公司法
第十八条：公司依照宪法和有关法律的规定，通过职工代表大会或者其他形式，实行民主管理。
公司研究决定改制以及经营方面的重大问题、制定重要的规章制度时，应当听取公司工会的意见，并通过职工代表大会或者其他形式听取职工的意见和建议。