The latest amendment to the Slovenian Insolvency Act (Zakon o finančnem poslovanju, postopkih zaradi insolventnosti in prisilnem prenehanju or ZFPPIPP-H), which entered into force in late 2023, introduced the concept of likely or threatening insolvency and additional duties for the company and its management, which were first described in the article Amendment to the Slovenian Insolvency Act brings additional duties to the management and supervisory bodies, published in CEE Legal Matters (

It is being reported that the Latvian State Security Service (the VDD) has discontinued a criminal investigation started in November 2023 into the sale of a helicopter by a company indirectly co-owned by the designated person Petr Aven .

The National Company Law Appellate Tribunal (“NCLAT”) in Anjani Kumar Prashar v. Manab Datta & Ors, Company Appeal (AT) (Ins) No.

Against the backdrop of recent judicial precedent, this article delves into the need for a group insolvency framework in India, and analyses the report published by the CBIRC in 2021.

Globalisation has led to a significant increase in the number of enterprises which comprise of several closely connected entities that may operate as a single economic unit. As a consequence, difficulties may arise when 1 or more entities in that single economic unit become insolvent as the inability of 1 entity to pay its debts may impact stakeholders in another entity within the group.

An insolvency administrator may lose their right to restitution arising from an insolvency avoidance if they are prevented from exercising the right in good faith by their conduct in the context of the conclusion of a redemption agreement, by which the creditor (and opposing party) waives rights to separate satisfaction.

Decision

A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).

The Hungarian Supreme Court has ruled that in a lawsuit initiated by an insolvent debtor, a creditor’s claim arising after the commencement date of the liquidation cannot be enforced as a set-off claim against the debtor.

Background

A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).

The Porter Davis liquidation in early 2023 put into sharp focus the practice of some builders taking deposits from owners before obtaining domestic building insurance for their work, insurance that helps to protect owners in the event of a builder’s insolvency.

In the case of Porter Davis, this practice left thousands of owners without insurance to recover the loss of their deposits, leading the State Government to implement a relief scheme to compensate home owners over $28 million, later extended to 20 February 2024 and expanded to other builders in liquidation.

Introduction

The proud sporting nations of Ireland and England have for some time traded blows and bragging rights within the Six Nations Tournament as the two pre-eminent and consistent "Home Nations" rugby teams. While the two sides share some similarities in the rebuilding process following the World Cup in France 2023, ahead of this Saturday's clash, few can argue with Ireland's emphatic start to this year's tournament. England, however, can never be written off at Twickenham, so a potential blockbuster awaits!