Introduction for Insolvency & Restructuring Case Summaries 2021-2022 It gives us great pleasure to introduce our Insolvency & Restructuring Case Summaries 2021-2022.

This is the first year that we have published a collated version of the Case Summaries in addition to our regular insolvency InFocus updates. The Case Summaries have been produced in response to feedback that this would be a useful resource.

Over the past year, the ebb and flow of bankruptcy filings has been an interesting one. Through 11 months, the number of bankruptcy filings has decreased from 2021, which was already at its lowest level since the 1980s.

The total number of bankruptcy filings through November stands at 346,760. Based on a recent monthly uptick in both consumer and commercial filings, we should expect the year to end with approximately 385,000, a 4% decrease from the 401,291 filings in 2021.

El Tribunal Supremo establece que la nulidad de un acuerdo de la junta de no repartir dividendos puede ser abusivo y condena a la sociedad a pagar a los socios un dividendo del 75 por ciento de las ganancias del ejercicio.

Referencias Jurídicas CMS

Post jurídicos

Corporate / M&A

Andrés Recalde Impugnación de acuerdo de la junta y condena al pago de dividendo ����������������������������������������������������������4

Procesal y Arbitraje

Introduction

This monthly legal roundup is a compilation of our thought leadership articles and primers published in the month of December 2022 on key legal and regulatory topics. Please click on the access links to read more.

A. INSOLVENCY LAWS

1. Leasehold right: An intangible asset

“The [Subchapter V] Trustee shall— . . . facilitate the development of a consensual plan of reorganization.” 11 U.S.C. § 1183(b)(7).

That’s what we Subchapter V trustees are supposed to do.

Ok, fine. But how are we supposed to do that?

A facilitation tool that many Subchapter V trustees are using is this: Zoom facilitation meetings.

What follows is an explanation of how such meetings can work.

Initial Meeting

On June 2, 2022, the Austrian Financial Court ruled on the arm's length nature of a) the liability commission in context with a shareholder loan, b) the Transfer Price of products and c) the crediting of trade receivables (GZ. RV/7102082/2009).

1. はじめに

2022 年 11 月 25 日、株式会社SMBC キャピタル・パートナーズが、本邦最大の鶏卵業者で会社更生手続下にあるイセ食品株式会社の事業支援スポンサーとなることが発表された 。同月 30 日には、裁判所により、同スポンサーの代表者がイセ食品株式会社の事業家管財人に選任され 、本邦最大鶏卵業者の事業再生のための大きな一歩が踏み出されることとなった。

近年の会社更生手続においては、裁判所の監督の下、更生会社の事業支援スポンサーが選定されることは一般的な運用ともいいうるが、本件の会社更生手続は、イセ食品株式会社が自ら会社更生手続開始を申し立てたものではなく、一部の株主及び債   権者による申立てにより開始されたという特異な経過を辿っている。

以下では、申立て債権者のイニシアティブにより、債務者事業を維持し、再生につなげる手法の実例として、本件の経緯を概観することとする。

2.イセ食品グループの会社更生

The U.S. Court of Appeals for the Ninth Circuit recently affirmed a bankruptcy court’s judgment in favor of a debtor who sought to avoid a judgment lien under California’s homestead exemption law.

In so ruling, the Ninth Circuit held that, when a judgment lien impairs a debtor’s state-law homestead exemption, the Bankruptcy Code requires courts to determine the exemption to which the debtor would have been entitled in the absence of the lien.

On the 9 of March earlier this year, the Court of Appeal (Civil Division) in the UK dismissed an appeal and confirmed that when an electronic money institution (“EMI”) is placed into administration, it was not necessary to impose a statutory trust in order to fulfil the purposes of the safeguarding provisions under EMD (Electronic Money Directive 2009/110) and PSDII (Payment Services Directive 2015/2366) considering that the spirit of both Directives was solely to preserve the sums paid by the EMI’s customers in the case of insolvency and against its other creditors.