Kamuoyunda 7. Yargı Paketi olarak anılan 7445 sayılı İcra ve İflas Kanunu ile Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun (“Kanun”), 5 Nisan 2023 tarihli ve 32154 sayılı Resmî Gazete’de yayımlanmış ve yürürlüğü sonraya bırakılan birtakım düzenlemeler dışında yürürlüğe girmiştir.

İcra hukuku, ceza hukuku ve usul hukukuna yönelik çeşitli düzenlemelerin yer aldığı Kanun kapsamında, dava şartı arabuluculuğun kapsamının önemli ölçüde genişletildiği görülmektedir. Kanun kapsamında ön plana çıkan düzenlemelere aşağıda yer verilmektedir.

The Moveable Transactions (Scotland) Bill introduces a raft of fundamental changes designed to modernise and improve the law of Scotland in relation to transactions concerning moveable property.

Originally published in the March 2023 issue of the Australian Restructuring & Turnaround Association Journal (ARITA), this article explores the interaction of statutory set‑off and unfair preference claims through its legislative origins, historical application and consideration by the courts, before discussing the High Court’s recent judgment and concluding with key takeaways for insolve

IAIS launches climate risk training materials for insurance supervisors

According to a press release published on April 5th, 2023, the International Association of Insurance Supervisors (IAIS) and the Financial Stability Institute jointly launched new online training materials on climate risk for insurance supervisors.

On March 14, 2023, Judge Ashely M. Chan of the U.S.

“The trustee may avoid . . . any obligation . . . incurred by the debtor, that was madeor incurred“ with actual fraudulent intent or as constructive fraud.

–From § 548 of Bankruptcy Code (emphasis added).

Similar language is contained in the Uniform Voidable Transactions Act—and in its predecessor acts—for 100+ years. [Fn. 1]

But actions to avoid debts as fraudulent transfers are rare—and largely unknown, it seems.

A Bad Experience

On 27 March 2023, the European Commission concluded that an Italian loan of EUR 400 million granted in 2019 in favour of Alitalia constituted illegal and incompatible aid that has to be reimbursed.

Alitalia has benefitted from numerous public support measures over the years. The airline found itself in a financial pickle and was declared bankrupt in May 2017. To ensure the continuity of its operations, the Italian State provided the airline with two loans, one of EUR 900 million granted in 2017 and the second of EUR 400 million in 2019.

The Cayman Islands is the preeminent offshore jurisdiction for corporate, fund and finance vehicles. It is also a creditor friendly jurisdiction, where properly constituted security has statutory protection from the reach of liquidators. We explore some of the options available to lenders and companies when navigating troubled waters.

1 Introduction

This quarterly civil fraud update provides a summary of reported decisions handed down in the courts of England and Wales in the period of January - March 2023.

BRIBERY

In this week’s TGIF, we consider the Federal Court’s recent decision inFotios (Bankrupt) v Helios Corporation Pty Ltd (No 3) [2023] FCA 251, and earlier decisions in the same proceedings, clarifying the current Australian position as to priorities between creditors of successive trustees.

Key takeaways