A mortgage loan repurchase facility (more casually referred to as a "repo") is a financing structure commonly utilized to finance mortgage loans. These facilities are utilized by both residential and commercial mortgage loan originators and aggregators to finance mortgage loans that they originate or acquire. The structure is favored by liquidity providers in the mortgage loan finance arena due to its preferential "safe harbor" treatment under the United States Bankruptcy Code (the "Bankruptcy Code"), as further described below.
If you are a creditor who is owed money by a company that has gone into voluntary administration, you will receive reports and notifications of meetings from the voluntary administrators. Chamberlains can advise you on your rights and what to do in this situation. In this case update, we look at one issue that may come up in such a scenario – when more time is needed before the second meeting.
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.
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Key takeaways
The High Court has clarified the grounds for challenging a CVA for guarantee creditors.
High Court's Landmark Decisions Clarify the Position for Creditors and Liquidators in Insolvency Proceedings
The Law Amending the Enforcement and Bankruptcy Law and Certain Laws ("Amendment Law"), known as the 7th Judicial Package, was published in the Official Gazette (32154) dated 05 April 2023 and entered into force except for several provisions with later effective dates.
The Amendment Law sets out several changes in the fields of enforcement law, criminal law, and procedural law, and it expands the scope of mandatory mediation significantly. Some of the prominent amendments introduced by the Amendment Law are examined below:
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.