The government has today (Wednesday 16.06.21) announced its intention to:

1. Extend the existing restrictions on stat.demands and winding up petitions (and certain other Covid-related amendments to Insolvency legislation)

2. Extend the restrictions on rent-related forfeiture of business tenancies

3. Extend the restriction on commercial rent arrears recovery action/ CRAR

The UK Government has announced a further extension to certain protective measures for businesses which are currently in place in response to the COVID-19 pandemic.

As the end of Covid restrictions rapidly approaches in the UK, a number of businesses are considering how they might deal with the issue of debts which have built up since the start of the first lockdown in March 2020. Whilst an encouraging number of companies have been able to avoid formal insolvency proceedings, the various Government support schemes and restrictions on enforcement action, which were introduced to help companies navigate the pandemic, have led to significant liabilities accruing on balance sheets.

In brief

On 14 May 2021, the Supreme People's Court of the PRC (SPC) and the Government of the Hong Kong Special Administrative Region (HKSAR)  signed a Record of Meeting setting out a framework to facilitate the mutual recognition of and assistance to insolvency proceedings between Mainland China and Hong Kong ("Arrangement"). The Record of Meeting is supplemented by the SPC's Opinion and the HKSAR Government's Practical Guide, which together provide the "Framework". 

After a sluggish year in 2020 for mergers and acquisitions among hospitals and health systems, 2021 has shown renewed vigor and is poised for considerable transactional activity.

Brief background factsIn the case of Ler Cheng Chye & Anor v Wong Ching Yong & Ors [2020] 7 AMR 900, [2020] MLJU 1565, Darryl Goon J decided on the issues concerning a challenge to the role played by a receiver and manager, and the need to consider what a receiver and manager appointed over the assets and undertaking of a company may or may not do, upon the commencement of winding up proceedings of that company.

The scope of enforcement immunity for the sole home of a debtor has been determined in a recent Ruling* of the Constitutional Court of the Russian Federation.

The Constitutional Court has considerably limited the immunity from enforcement on the sole residence of a bankrupt individual. Such immunity will not apply if a debtor is found to have abused his rights (e.g. by withdrawing assets from bankruptcy proceedings to secure their immunity by purchasing a “luxury” home).

Зміст

Коли реструктуризація боргу стає актуальною для позичальника та дає змогу банку отримати більш вигідні для себе умови?

Який вид забезпечення, на вашу думку, є найбільш ефективним?

Які ще важелі може використовувати банк у процесі реструктуризації?

У чому може полягати GR стратегія в процесі реструктуризації

боргу?

Що Ви можете рекомендувати банкам, щоб уникнути неприємних сюрпризів? 

Конституционный Суд РФ в своем недавнем Постановлении определил границы исполнительского иммунитета единственного жилья должника.

In England, it is common and quite straightforward for companies and LLPs to grant all assets security by way of a debenture which includes a series of fixed charges over specified assets, an assignment of material leases, insurances and other contracts and a floating charge over assets which are not expressly subject to those fixed charges. That same approach does not work in Scotland, at least not without some adaptation.