In its recent opinion arising out of the Orexigen Therapeutics Inc.
In March, we reported on a brief filed by the Solicitor General recommending denial of a petition for certiorari filed by Tribune creditors seeking Supreme Court review of the Second Circuit ruling dismissing their state-law fraudulent transfer claims.
An appellate court judgment will bring comfort to liquidators of insolvent companies in respect of the limitation periods applicable in cases of fraud or deliberate concealment
PREPACKAGED INSOLVENCY RESOLUTION FOR MSMEs – FIRST STEP TOWARDS A LONG AWAITED LEGAL FRAMEWORk
Introduction
Expected for almost two months, the law that partially and temporarily modifies the insolvency legislation has been adopted on 21 March 2021 at last.
This is nearly two months after the general moratorium on bankruptcies, that was in force since 28 October 2020, expired.
1. Why this legislative intervention was necessary
The main purpose of this measure is to adapt the existing restructuring toolbox to the needs of Belgian companies facing major financial difficulties due to the corona crisis.
Duty of care in tort not established in favour of main contractor from third party sub consultant
The Corporate Insolvency and Governance Act 2020 introduced a number of temporary changes to UK insolvency laws last year. Those changes, together with other measures such as the moratorium on forfeiture proceedings have recently been extended, we assume, to avoid the perceived cliff edge of insolvencies that might follow if such measures are brought to an end abruptly.
On l’attendait depuis bientôt deux mois, voire plus : le 21 mars 2021, une loi réformant partiellement et temporairement le droit de l’insolvabilité a été votée.
Cette loi intervient presque deux mois après la fin du moratoire général sur les faillites en place depuis le 28 octobre 2020 et qui prenait fin le 31 janvier dernier.
1. Pourquoi cette intervention législative était nécessaire
Mit dem Königlichen Gesetzesdekret 5/2021 vom 12. März 2021 hatte die spanische Regierung erneut die Insolvenzantragsfrist bis zum 31. Dezember 2021 ausgesetzt. Insolvenzanträge von Gläubigern werden von den spanischen Insolvenzgerichten bis zum genannten Datum ebenfalls nicht zum Verfahren zugelassen. Diese gesetzliche Regelung konnte aber auch nicht vermeiden, dass im Monat März die höchste Anzahl von Insolvenzanträgen seit 2014 gestellt wurden.