Geld zurück trotz erbrachter Leistung wegen zu hoher Deckungslücke des Schuldners. Aber wann?
The recent English High Court decision of Wright v Chappell related to the collapse of British Home Stores provides a landmark ruling of which directors of Cayman Islands companies need to be aware. This is the first time damages have been awarded against directors for 'misfeasant trading'. Directors may be held liable for any 'insolvency deepening' activity in failing to file for insolvency when it would be in the creditors' interests to do so.
Introduction
Introduction
BACKGROUND
L’un des principaux avantages pour un débiteur de se placer sous la protection de la Loi sur les arrangements avec les créanciers des compagnies (« LACC ») ou de la Loi sur la faillite et l’insolvabilité (« LFI ») consiste en la suspension des procédures pouvant être intentées par un créancier faisant face à un défaut de paiement. Cette suspension des procédures permet notamment à la débitrice de se réorganiser ou de disposer de certains ou de l’ensemble de ses actifs sous la supervision du tribunal. Or, certaines exceptions existent.
It is essential that any UK individual or entity doing business, managing funds/other economic resources, or providing financing or professional services, keeps abreast of the current UK Russian sanctions regime, which is chiefly set out in the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Regulations"). The question of how the Regulations might apply to those with fiduciary duties – either as trustees or as directors – has been considered in two recent High Court cases.
Bij onroerende goederen, kan de situatie ontstaan dat tijdens de bouw een hypotheekrecht wordt gevestigd ten behoeve van de bank. Als de opdrachtgever failliet gaat, en de aannemer oefent het retentierecht uit, wie mag dan het onroerend goed verkopen? De Hoge Raad heeft hier onlangs uitgebreid antwoord op gegeven.
Preparing a business for an exit can be a complex and time-consuming task.
British universities facing financial challenges and shifting enrollment patterns are considering restructuring plans in light of potential insolvencies.
Under federal law, a debtor may be criminally prosecuted for various kinds of misconduct in connection with a bankruptcy case, including concealing assets, falsifying information, embezzlement, or bribery. See 18 U.S.C. §§ 152, 157. The U.S. Trustee, which serves as a watchdog over the bankruptcy process, will refer such cases to the U.S. Attorney’s Office for investigation and prosecution.