Chapter 15 of the Bankruptcy Code is a mechanism for debtors to have foreign insolvency proceedings recognized in the U.S. and to have the orders entered by a foreign court in those insolvency proceedings abroad given effect in the U.S.

Key Issues

RECOGNITION OF A FOREIGN MAIN PROCEEDING

The UK Supreme Court’s recent decision in El-Husseini and another v Invest Bank PSC [2025] UKSC 4 has clarified the circumstances in which section 423 of the Insolvency Act 1986 (the Act) provides protection against attempts by debtors to “defeat their creditors and make themselves judgment-proof.” This is a critical decision for insolvency practitioners, any corporate or fund which is involved in distressed deals and beyond to acquirers who were not aware they were dealing in distressed assets.

Introduction

•The limitation law concerns the primary concept of ascribing a fixed time frame within which all legal contentions are required to be raised by parties; the law in this regard is governed primarily by The Limitation Act.

•S. 238A of IBC, 2016 provides:-

“238A. The provisions of the Limitation Act, 1963 shall, as far as may be, apply to the proceedings or appeals before the Adjudicating Authority, the National Company Law Appellate Tribunal, the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal, as the case may be.”

  -정부 효율 증진과 국민 통합 추진, 단기적 업무지연 예상 -

베트남의 정부조직 개편에 따라, 2025. 3. 1.자로 중앙정부 각 부처 및 장관급 기관 일부가 통합 또는 신설되어 14부로 개편되었고, 이에 따라 각 성급 인민위원회 산하의 지역국 조직도 개편되고 있습니다.

이번 정부조직 개편은 조직 통폐합에 따른 효율 증진 및 인원 감축을 기조로 하고 있으며, 이어서 성급 행정구역의 재편과 인원 감축도 예견되고 있습니다. 이에 따라 각 부처의 권한이 간명하게 정리되고 각종 인허가 절차가 효율화될 것으로 기대되는 한편, 과도기적으로는 중앙부처 및 지역국 통폐합/신설과 인원 감축에 따른 일시적 업무 지연도 예상된다는 점에 유의하여야 합니다.

1.베트남 정부조직 개편 경과

2.베트남 정부조직 개편의 주요 내용

3.예상효과 및 기업의 단기적 유의사항

1. 베트남 정부조직 개편 경과

在当前的经济条件下，在开曼群岛（“开曼”）或英属维尔京群岛（“BVI”）注册成立的离岸公司（包括作为投资基金开展业务的公司）的股东越来越多地被迫考虑，在董事对公司事务管理不善负有责任时，其对该等董事所享有的权利。尤其是，小股东特别希望了解是否有救济措施，使其能够克服“违法者控制”的局面。换言之，通常董事会的组成和管理是由大股东控制的。在本篇文章中，我们简要介绍了在开曼和BVI两个司法管辖区，董事所承担的职责以及股东可获得的救济措施。

董事职责的范围是什么？

开曼群岛

开曼公司董事的职责规定在普通法中，包括：(i)以公司的最佳利益善意行事的职责；(ii)为适当目的行使其权力的职责（而不得为未授权的目的行使其权力）；以及(iii)不得牟取秘密利润的职责。

英属维尔京群岛

On 21 March 2025, the Dutch Supreme Court ruled that a taxpayer is allowed to deduct a liquidation loss on its participation in a liquidated subsidiary that transferred losses to group companies under the Irish group relief regime in the years prior to the liquidation. This Supreme Court judgment provides a favorable outcome for taxpayers.

Background

Set-off is simply put a reduction or discharge of a debt by setting against it a claim in favour of the debtor (or the person otherwise having to pay).

The applicability of the principle of set-off under the Insolvency and Bankruptcy Code, 2016 (IB Code) is no longer res integra and the draconian view of the inapplicability of set-off under insolvency proceedings has not found Thankfully, judicial favour.

Background

介绍

英属维尔京群岛（「BVI」）的清算不具有救援功能，标志着公司生命周期的结束。 BVI 的清算可以是：

1) 破产清算，因此受《2003 年破产法》（经修订）（「破产法」）管辖；或者

2) 有偿付能力的清算，因此受英属维尔京群岛商业公司法（经修订）（「公司法」）管辖。《公司法》经《2022 年 BVI 商业公司（修订）法》和《2022 年 BVI 商业公司（修订）条例》（「修订」）修订。

本简报列出了与英属维尔京群岛自愿清算相关的一些要点。我们准备了另一份简报涵盖《破产法》下与破产清算相关的问题。

自愿清算的目的

当公司不再被业务需要并且需要解散时，通常采用自愿清算——这将使清算人能够处理公司的资产（如果有）并偿还任何负债（如果有），以便解散有偿付能力的公司。自愿清算的过程相当简单且成本低廉，有助于公司有秩序地结束。

程序

《公司法》第 197(1) 条规定了公司自愿清算的标准。公司只有在以下情况下才可以进入自愿清算：