Introduction
Recent development
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With our Employment Tracker, we regularly look into the "future of labour law" for you! At the beginning of each month, we present the most important decisions expected for the month from the Federal Labour Court (BAG) and the European Court of Justice (ECJ) as well as other courts. We report on the results in the issue of the following month. In addition, we point out upcoming milestones in legislative initiatives by politicians, so that you know today what you can expect tomorrow.
Employment Tracker
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Recent decisions
Introducción
En las Píldoras de este mes de noviembre destacamos dos sentencias de audiencias provinciales:
la de la AP de Tarragona que anula la garantía hipotecaria de la filial en favor de la deuda de su matriz a pesar de que había sido la matriz quien le aportó los fondos para comprar los inmuebles que se hipotecan. La audiencia adapta la doctrina de la compensación equivalente y considera que se sacrifica más de lo que se gana y por tanto el sacrificio patrimonial es injustificado.
We have previously blogged about Siegel v. Fitzgerald, the Supreme Court decision last June that invalidated the 2018 difference in fees between bankruptcy cases filed in Bankruptcy Administrator judicial districts and U.S. Trustee judicial districts.
“Rather fail with honour than succeed by fraud” – Sophocles
Introduction
Fraud and its impact on businesses are an increasing concern. The costs of addressing the consequences of fraudulent conduct are growing exponentially and fraudulent schemes are becoming more prevalent, sophisticated and even international.
In a recent decision, the Delhi High Court ("Delhi HC”) has stayed 2 (two) summary suits against a personal guarantor on the ground that interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 ("IBC”) arising out of another creditor’s IBC proceedings has the effect of staying all pending legal proceedings in respect of ‘all of the debts’ of the particular guarantor.
Brief Facts
In the recent decision of Banerjee (Liquidator), in the matter of Eastside Formwork Pty Ltd (in liq) v Stojic [2022] FCA 1315, a liquidator succeeded in obtaining orders for a warrant to search for and seize books and records which had been concealed from the liquidator. The warrant was directed at the person deemed the ‘guiding mind and will’ of the company in liquidation, who had repeatedly ‘fobbed off’ requests for the production of all records of the company.
Key takeaways
Corporate insolvency numbers continued to appear artificially low in 2022. The expectation is that they will rise once businesses need to deal with the aftermath of Government pandemic supports and, in particular, start to pay warehoused taxes.
In the recent decision of Base Realtors Private Limited v. Grand Realcon Private Limited, the National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has upheld the maintainability of an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) relating to the component of interest due and payable, without asking for the principal amount which has not yet become due and payable.
Brief Facts