The National Security and Investment Act 2021 ("NSIA" or "the Act") came into force in the UK on 4 January 2022. NSIA expands the UK Government’s powers to scrutinise certain acquisitions and investments on national security grounds. NSIA applies where a target entity is within one of the 17 sensitive sectors set out in the Act and has activity in the UK. The UK Government’s power applies to transactions which complete in the period following 12 November 2020.

On 16 March 2022, the Australian High Court handed down its decision in Wells Fargo Trust Company, National Association (As Owner Trustee) & Anor v VB Leaseco Pty Ltd (Administrators Appointed) & Ors [2022] HCA 8. This is the first judgment by a court of final appeal on the interaction between the Cape Town Convention and local insolvency laws.

Background

In its judgment of 10 February 2021 (case no. I CSKP 33/21), the Supreme Court of Poland considered a cassation appeal by a claimant seeking to prove that it was wronged as a creditor in a fraudulent transfer claim against a third party (governed by Art. 527 and following of the Civil Code). The Supreme Court raised important issues in this debatable decision from the point of view of the safety of participants in commerce, including creditors. Among other things, the court pointed out that the assessment of whether a creditor was harmed within the meaning of Art.

Between the lines... For Private Circulation-Educational & Information purpose only Vaish Associates Advocates… Distinct. By Experience. I. NCLAT: No possibility negotiating the resolution plan in the intervening period between approval by the CoC, and pending the approval of the NCLT. The Hon’ble National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has in its judgment dated January 27, 2022, in the matter of Union Bank of India v. Kapil Wadhawan and Others [Company Appeal (AT) (Insolvency) No.

根据泰国民商法规定，泰国公司可通过股东大会自行决定解散公司，同时，也可由法院裁定解散公司。 解散清算程序通常需要大约6个月~2年的时间，取决于公司之前年度的会计账目是否经过审计、是否有未决诉讼或税务问题、公司的注册资本、债务等因素。 本文就股东决议解散公司的情况下，所需的流程作出简要介绍：

第一步：解散登记

解散清算程序的第一步是在泰国商业发展厅（Departmentof Business Development，以下简称 “DBD”）登记解散，在此之前，公司必须进行以下事项：

• 召开董事会议批准解散事宜并召集股东会;
• 召开股东会议批准公司解散、指定一名清算人和审计师及其职务内容。清算人的职责是处理公司的事务、偿还债务和分配资产;
• 股东会议前，需于当地报纸刊登公告、致函邀请股东出席会议。

第二步: 清算工作

The Ministry of Economy has presented a series of bills to the Congress of the Republic of Guatemala with the purpose of reactivating the national economy. [1] Among these was Bill number 5446, which proposed a special law on insolvency matters to provide support to natural and legal persons that cannot make payment of their debts due to specific circumstances.

How should liquidators deal with the administrative burden of adjudicating thousands of low-value proof of debts in a liquidation estate, without exhausting the limited assets available in the liquidation estate? The Grand Court recently sanctioned a pragmatic solution.

Introduction

The High Court has handed down the long-awaited decision of Stubbings v Jams 2 Pty Ltd [2022] HCA 6, unanimously overturning the decision of the Victorian Court of Appeal. In so doing, the Court held that enforcement of rights under a personal guarantee was unconscionable.

In Minor Hotel Group MEA DMCC v Dymant & Anor [2022] EWHC 340 (Ch), is the first reported High Court decision considering a contested moratorium since the new Part A1 moratorium ("moratorium") was introduced in 2020, in which the monitors successfully opposed an application by the parent company's secured creditor to remove the monitors and end the moratorium.

Over recent months we have seen numerous references in the press to investigations into Bounce Back Loan Scheme (BBLS) fraud. A year ago the National Audit Office estimated that around 11% of the loans granted (some £4.9bn) were procured fraudulently. More recent official estimates suggest the figure is between £3.3bn and £5bn.

Needless to say attempting to recover these funds is a enormous task. The National Crime Agency is investigating some of the biggest cases, but equally banks and HMRC are actively seeking to identify fraud and recover the loans.