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    제7기 「기업구조조정 촉진법」 시행
    2023-12-28

    새로 제정된 기업구조조정 촉진법(이하 “기촉법”)이 2023. 12. 26. 공포·시행되었습니다. 이에 따라 기촉법에 의한 워크아웃을 통하여 부실징후기업에 대한 신속하고 효율적인 경영정상화를 추진할 수 있게 되었습니다. 이번에 제정된 기촉법에는 2023. 10. 일몰된 제6기 기촉법의 내용이 거의 그대로 유지되면서, 워크아웃기업에 신규로 자금을 지원하는 제3자에게도 우선변제권을 부여하고, 구조조정 담당자의 면책요건을 확대하는 내용이 추가되었습니다. 

    I.    제정 배경

    기촉법은 2001년 한시법으로 제정된 이후 2023년 10월 실효된 제6기 기촉법에 이르기까지 6차에 걸친 제·개정을 거쳐 유지되어 오면서, 워크아웃의 근거법으로서 부실징후기업의 신속하고 효율적인 경영정상화에 활용되었습니다. 

    Filed under:
    South Korea, Company & Commercial, Insolvency & Restructuring, Bae, Kim & Lee LLC
    Authors:
    Jeong Kyu-sang , Bo Youl Hur
    Location:
    South Korea
    Firm:
    Bae, Kim & Lee LLC
    Mandating Mediation-How It’s Done: (i) Local Rule Examples, and (ii) A Separate Order Guideline
    2023-12-28

    There are many reasons to mandate mediation in certain circumstances.

    • One is to improve the quality of justice.
    • Another is to manage an expanding docket and burgeoning caseload.
    • A third is to create a mediation culture where none currently exists.

    There are two ways to mandate mediation:

    Filed under:
    USA, Nebraska, Arbitration & ADR, Insolvency & Restructuring, Litigation, Koley Jessen PC, Bankruptcy, Mediation
    Authors:
    Donald L. Swanson
    Location:
    USA
    Firm:
    Koley Jessen PC
    2024: main new legislation needing to be considered by companies in Spain
    2023-12-29

    2024: main new legislation needing to be considered by companies in Spain 2024 Viewpoint Spain 2 2024: main new legislation needing to be considered by companies in Spain December 2023 Professionals in the various practice areas at Garrigues take a look, from all angles of business law, at the main new legislation that companies will face in the coming year. 2024 promises to be an intense year in terms of statutory and case law.

    Filed under:
    European Union, Spain, Banking, Capital Markets, Company & Commercial, Copyrights, Energy & Natural Resources, Environment & Climate Change, Insolvency & Restructuring, IT & Data Protection, Litigation, Tax, Garrigues, Offshore wind power, Renewable energy, Artificial intelligence, Digital transformation, Digital economy, Cryptocurrency, ESG, Cybersecurity, Anti-money laundering, Greenwashing, Generative AI, European Commission, European Securities and Markets Authority, EU Artificial Intelligence Act, Court of Justice of the European Union
    Location:
    European Union, Spain
    Firm:
    Garrigues
    The Bahamas issues Practice Direction for adoption of Judicial Insolvency Network (‘JIN’) Guidelines for use of Joint Hearings in Cross-Border Insolvency Proceedings
    2024-01-01

    The Chief Justice of the Commonwealth of The Bahamas, Sir Ian Winder has issued Cross-Border Insolvency Practice Direction No. 14 of 2023 for Court-to-Court Communications and Cooperation in cross-border insolvency and restructuring cases after consultation with the Justices of the Supreme Court, Commercial Division.

    The practice direction addresses the use and adoption of published JIN guidelines in cases pending before the Supreme Court of the Commonwealth of The Bahamas. The practice direction took effect on 19 December 2023.

    Filed under:
    Bahamas, Insolvency & Restructuring, Litigation, Lennox Paton, Judicial Insolvency Network
    Authors:
    Sophia Rolle-Kapousouzoglou
    Location:
    Bahamas
    Firm:
    Lennox Paton
    5 Trends to Watch: 2024 Restructuring & Bankruptcy
    2024-01-02
    1. Globalization of Businesses Leads to More Cross Border Restructurings – With the increase in international businesses’ globalization comes an increase in cross border restructurings both inside and outside of courts.
    Filed under:
    USA, Banking, Insolvency & Restructuring, Greenberg Traurig LLP
    Authors:
    Shari L. Heyen , David B. Kurzweil
    Location:
    USA
    Firm:
    Greenberg Traurig LLP
    Insolvency in a modern age - Official Receiver filing changes now in force in Hong Kong
    2024-01-02

    New statutory provisions have come into effect that will modernise the way documents are filed with the Official Receiver in Hong Kong. The changes, which took place on the last working day of 2023, pave the way for the electronic submission of certain documents to the Official Receiver's Office (ORO) and dispense with the mandatory newspaper advertising of some statements and notices, which going forward will only require publication in the Gazette or other specified means.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Hogan Lovells, Liquidation, Insolvency
    Authors:
    Nigel Sharman
    Location:
    Hong Kong
    Firm:
    Hogan Lovells
    Navigating a Tenant’s Bankruptcy: Tips and Observations
    2024-01-02

    Recently, two significant distressed companies with thousands of commercial leases, Rite Aid and WeWork, each filed chapter 11 bankruptcy cases, seeking in part to rationalize their geographic footprints through the rejection of a substantial portion of their lease portfolios.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Real Estate
    Authors:
    David M. Hillman , Peter J. Young , David J. Weinberger , Steve Ma
    Location:
    USA
    Firm:
    Proskauer Rose LLP
    Strengthening your business against increasing insolvencies: contractual safeguards and practical approaches
    2024-01-02

    In November 2023, the Office of National Statistics recorded a total of 2,466 registered company insolvencies in England and Wales, revealing a significant uptick in both creditors’ voluntary liquidations (CVLs) and compulsory liquidations compared to the previous year.

    This increase in business insolvencies can be attributed to several external factors such as rising inflation, soaring energy prices and customer spending reductions.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Flint Bishop
    Location:
    United Kingdom
    Firm:
    Flint Bishop
    Court of Appeal summaries (December 18-22)
    2023-12-23

    Good afternoon. Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 18, 2023.

    Filed under:
    Canada, Ontario, Banking, Company & Commercial, Environment & Climate Change, Insolvency & Restructuring, Insurance, Litigation, Personal Injury, Real Estate, Blaney McMurtry LLP, Due diligence, ESG, Court of Appeal for Ontario
    Authors:
    John Polyzogopoulos , Ines Ferreira
    Location:
    Canada
    Firm:
    Blaney McMurtry LLP
    中国子会社の再編・撤退(1) ‐総論‐
    2023-12-26

    1 中国を取り巻く環境の変化

    一昔前までの中国は、世界の工場として、世界中 の生産性企業がその安価な労働力を求めて進出して いたが、中国の経済成長に伴い労働コストが増加し た結果、中国国内のより安価な地域や東南アジア等 の第三国に生産拠点を移したり、中国国内の事業を 整理・統合したりするなどの動きが出てきている。

    近時、中国経済の先行きが不透明であることから、 中国子会社の再編・撤退を考えている企業も少なか らずあるのではないかと思われる。そこで今回から 複数回に分けて「中国子会社の再編・撤退」と題し て、中国子会社の再編・撤退にはどのような方法が あるのか、それぞれの方法の手続はどうすればよい のか、またどのような点に気を付ける必要があるの か等についてご紹介することとしたい。

    2 選択肢は現状維持か撤退かだけではない

    日本本社が中国子会社の業績を判断する場合、中 国子会社の事業全体をひとくくりにして見ることが 多いのではないかと思われる。すなわち中国子会社 が最終的に赤字であり改善の見込みがなければ撤退、 黒字であるもしくは赤字幅が少なく改善の見込みが あるということであれば現状維持という判断になる 傾向にあると思われる。

    Filed under:
    China, Japan, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Oh-Ebashi LPC & Partners
    Authors:
    Ryo Matsumoto
    Location:
    China, Japan
    Firm:
    Oh-Ebashi LPC & Partners

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