In Acquisition 362 v. United States, the Court of Appeals for the Federal Circuit (CAFC) again waded into the intersection of the AD/CVD law and Customs law. Specifically, the court ruled that a protest of a U.S. Customs and Border Protection (Customs) decision must be filed within 180 days of liquidation. This is not a novel decision, but as always in AD/CVD cases with Customs, the details are crucial.
Non-Performing Corporate Loan Toolkit for Banks
“To the man with a hammer, every problem looks like a nail.”
Background
Under the deposit guarantee scheme, deposits with Austrian banks are generally protected on a bank's insolvency, up to EUR 100,000. This sum may be higher in certain cases, for example, for sums deposited from the sale of a private residential property within 12 months before the insolvency, the guaranteed amount is EUR 500,000.
The Secretary of State for Business, Energy and Industrial Strategy (SoS) presented winding up petitions against Fabcourt Developments Limited, Clarkson Murphy Partners Limited, Hall Contracting Services Limited and Sentor Solutions Commercial Ltd (the Companies).
The SoS may present a petition for a company to be wound up where it appears that it is expedient in the public interest and if the court thinks it just and equitable to do so.
Background
As many creditors have unfortunately discovered, the Bankruptcy Code allows a debtor to sue the creditor for certain payments – called preferences – that the creditor received from the debtor prior to the bankruptcy.
There is seemingly, in the opinion of a great number of bankruptcy courts, a conflict between the United States Bankruptcy Code requirements that a debtor reorganize or liquidate “in good faith,” the federal Controlled Substances Act [21 USC § 841] (“CSA”) prohibiting, among other things, the distribution or sale of marijuana, and the laws of over half of the states in the country that authorize the sale of marijuana for medical and other purposes.
The Supreme Court’s recent judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25 is a significant decision for the law of directors’ duties.
Emergency legislation has introduced important changes to Hungarian insolvency laws that allow the debtor’s business to keep trading during insolvency.
The new rules apply to those debtors who are considered strategically important to the Hungarian economy and to those whose insolvency is declared under other emergency rules.