As the measures in the UK designed to protect businesses from insolvency draw to an end, what guidance can be taken from Australia where similar measures ended a few months ago?

Today (16 June 2021) the UK governmentannounced a further extension of some (but not all) of the temporary measures first introduced by the Corporate Governance and Insolvency Act 2020 (CIGA) in June last year.

The two most significant temporary measures for companies facing financial difficulties as a result of the COVID-19 pandemic were:

Hungary has passed an Act that implements EU Directive 2019/1023 on preventive restructuring frameworks, the discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt (amending EU Directive 2017/1132). This new Act was published in Hungary's Official Gazette on 3 June 2021 and will come into force on 1 July 2022.

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.

As Covid-19 restrictions in the UK gradually come to an end, the need for distressed tenants to be able to reorganise their liabilities to efficiently deal with the pandemic’s impact upon their balance sheets is likely to result in a number looking to use restructuring plans and CVAs.

Thankfully, a trio of significant recent cases, New Look1, Virgin Active2 and Regis3, have provided helpful and timely guidance regarding the use of such processes.

主に、債権者が直面している不良債権の回収問題を解決するため、2016年破産倒産法は制定されました。 本FAQでは、破産倒産法の概要、関連諸手続き等について扱っています。

1. 破産倒産法が適用されるのはどのような場合ですか？

会社、有限責任事業組合、組合、個人の倒産、清算、任意整理、破産において適用されます。

2. 破産倒産法の目的は？

財務的困難に陥っている会社の再編成および倒産処理の実施です。

3. 破産倒産法において規定されている制度的枠組みは？