When an individual or company purchases property in England or Wales, the legal title will transfer once the purchaser is listed as the registered proprietor at the Land Registry. However, what happens when, pending the registration of the legal interest, the seller company (who is still the registered proprietor) is dissolved? This is a risk seldom contemplated when purchasing property, but can have important consequences for the title of the property.
We are heading into the holiday season. It’s a Wonderful Life will be on television. And cryptocurrency bankruptcies will be in the news. Yesterday, BlockFi filed for bankruptcy. What does a seventy year old Frank Capra movie – about a bank run in a small town during the Great Depression – tell us about the latest crypto platform’s liquidity crisis? Will depositors get their money back? Is there any insurance for the creditors?
BlockFi Inc. and eight of its affiliates followed the paths of crypto platforms Voyager, Celsius and FTX by filing for bankruptcy protection. The case, commenced in the District of New Jersey, on November 28, 2022, is off to a fast start. BlockFi filed a plan of reorganization on the first day of its case. The plan proposes a standalone restructuring but allows the company to toggle to a sale of all or substantially all of the company’s assets. The company had its first day hearing in New Jersey on November 29th and expressed an interest in exiting bankruptcy expeditiously.
Our review of 2022 brings you right up-to-date with the latest developments in restructuring and insolvency law in Hong Kong and the mainland.
One of the world’s largest cryptocurrency exchanges—FTX Trading Ltd.—and many of its affiliates filed for bankruptcy earlier this month.1 While the full impact of the FTX bankruptcy is not yet clear, various responses from the executive branch and federal and state regulators indicate that, in the short term, agencies will continue to use their existing authorities to seek information about the practices of crypto market participants and to enforce existing rules to protect customers and avoid further market contagion.2 The following statements may indicate what market
In the course of dispute resolution, a creditor may be confronted with a situation where the corporate debtor is unable to repay its debts. In this case, can the creditor hold the shareholders of the company liable as well? This still depends on whether there is any contractual or legal basis for holding the shareholders liable.
Die produzierende Industrie in Deutschland wird derzeit durch massive Materialpreis- und Energiekostenerhöhungen aufgrund der mittelbaren Folgen der Corona-Pandemie, gestörten Lieferketten und dem Ukrainekrieg erheblich in Mitleidenschaft gezogen.
曾為全球第二大加密幣交易所FTX於2022年11月11日聲請破產，旋即爆發大量投資人擠兌，據悉三星電子、淡馬錫控股等機構的投資人都成受災戶，另初估有超過50萬以上的臺灣投資人受害。
就此，金管會銀行局林志吉副局長提出三大說明。第一，金管會重申，鑑於虛擬資產交易資訊相對不透明、價格波動較大且投資風險較高，投資人無論透過境內外虛擬資產平台或私底下進行交易，都務必提高警覺，審慎判斷相關資訊真偽並評估投資風險。第二，目前除了具證券性質的虛擬通貨（STO）是證券交易法所稱的「有價證券」，應遵循證交法相關規定外，其他種類虛擬通貨或衍生的其他商品都不是金管會核准發行的金融商品。第三，FTX是在境外的加密貨幣交易平台，並非金管會核准設立或監督管理的機構，相關商品也是在境外交易，但金管會仍將持續關注後續發展，並了解國際上相關主管機關對此事的看法及處理方式。
The manufacturing industry in Germany is currently being severely affected by massive increases in material prices and energy costs due to the indirect consequences of the Corona pandemic, disrupted supply chains and the Ukraine war.
Online claims-trading platform Xclaim Inc. came under scrutiny this past summer in the Madison Square Boys & Girls Club Inc. bankruptcy case pending in the United States Bankruptcy Court for the Southern District of New York. Since at least 2019, Xclaim has executed agreements with at least five notice and claims agent firms to synchronize their proofs of claim registers with Xclaim’s website where such claims are posted for sale.