In brief
On 18 January 2024, the Singapore International Commercial Court (SICC) issued its decision in Re PT Garuda Indonesia (Persero) Tbk [2024] SGHC(I) (“Re Garuda Indonesia“), which was the SICC’s first decision on an application under the UNCITRAL Model Law on Cross-Border Insolvency (as enacted in Singapore in the Third Schedule of the Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) (“Singapore Model Law“)).
Bygge- og anlægsbranchen har i de seneste år oplevet en kraftig stigning i antallet af konkurser og toppede foreløbigt i 2023 med hele 1.282 erklærede konkurser. Da konkurserne ofte er forbundet med store tab, hvis de indtræder under et igangværende byggeri, har tendensen i stigende grad aktualiseret en belysning af de muligheder, der er for at sikre sig imod sådanne tab.
The rescue of a company in business rescue ultimately depends on the implementation of a viable business rescue plan which has received the support of 75% of the creditors of the company. A recent business rescue case of Wescoal Mining (Pty) Ltd Another v Mkhombo NO1 and Other has potentially wide-ranging implications for creditors after business rescue has commenced.
B&D is pleased to present the next installment of our 2024 Litigation Look Ahead series. (Read part four covering Fifth Amendment takings cases here).
New Zealand needs to consider promoting passive overseas investment in developed assets. We are pleased to see that the New Zealand Government has signalled changes to allow for foreign investment in established build-to-rent developments (while still retaining the residential restrictions more generally).
I dagarna har konkursen i Componenta Främmestad AB avslutats. Bolaget försattes i konkurs under hösten 2019 varvid Jonas Premfors utsågs till konkursförvaltare.
Bolaget har haft en årsomsättning om ca 800 mkr och utgjort ett dotterbolag inom den finska börsnoterade Componenta-koncernen. Verksamheten har bestått i tillverkning av chassikomponenter till den tunga fordonsindustrin med kunder i ett antal europeiska länder samt i Australien och Sydamerika.
Introduction
Two shareholders of KBBO have obtained recognition in the English High Court of their Abu Dhabi bankruptcy process.
１．背景
2020年5月より「会社更生及び破産法（以下、改正破産法）」が施行されています（詳細は2020年6月5日付のニュースレターをご参照ください）。管財人に関しては、改正破産法の第32条から第36条に規定がありますが、管財人に対する職業訓練、報酬、責務に関するより詳細な規定と財産管理サービスを提供する事業者（以下、「管財人サービス会社」）に関する新たな規定を加えた「管財人及び管財人サービス会社に関する司法省大臣合意（No329）（以下、「合意」）」が2024年3月18日付で発行されました。合意は、2024年5月1日から有効となります（合意第28条）。
２．管財人の基準と条件
日本の場合、破産管財人は弁護士である必要がありますが、ラオスの場合、以下の基準と条件を満たすことで管財人となることが可能です（合意第4条）。
（１）法律、会計、監査又は学士以上経営学を習得し、少なくとも3年の実務経験があること
（２）管財人になるための職業訓練を受講すること
Junior debt – sometimes referred to as subordinated debt, occasionally talked about as mezzanine debt – is referred to as such because it ranks behind other, more senior, debt owing by the same borrower. Junior creditors can come in many different shapes and sizes and can include shareholder lenders and specialist debt investors or funds.
Russell Crumpler & Christopher Farmer (as Joint Liquidators of Three Arrows Capital Ltd (in Liquidation)) v Three Arrows Capital Ltd (in Liquidation) and BVIHC (Com) 2022/0119 (unreported 26 July 2023)