Di recente, la Sezione Fallimentare del Tribunale di Roma si è pronunciata su un caso che ha visto coinvolte le collecting societies Artisti 7607 e Imaie in liquidazione, aprendo così di nuovo ad una riflessione sulle conseguenze derivanti dalla liberalizzazione dell’attività di intermediazione nel campo dei diritti d’autore e diritti connessi.

La liberalizzazione delle collecting

Summary

The Hong Kong Court and the US Bankruptcy Court have made conflicting comments regarding the discharge of New York law-governed debt by a foreign scheme of arrangement, where that scheme is the subject of recognition under Chapter 15 of the US Bankruptcy Code.

Introduction

Businesses are increasingly spreading their footprint across jurisdictions, be it through the diversified locations of their assets or operations. What this means is that, if and when the need to resolve financial distress arises, such businesses may need to select a forum that will serve as an effective base for the management of the cross-border legal issues.

BUSINESS RESTRUCTURING REVIEW VOL. 21 • NO. 5 SEPTEMBER–OCTOBER 2022 1 IN THIS ISSUE 1 Texas District Court: Bankruptcy Sale Break-Up Fee Satisfied Both Business Judgment Test and Administrative Expense Standard 2 Lawyer Spotlight: Gregory M.

To encourage parties to transact with debtors in bankruptcy, the Bankruptcy Code in corporate bankruptcies provides highest priority to “administrative expenses,” which include “the actual, necessary costs and expenses of preserving the estate.” 11 U.S.C. § 503(b); id. § 507(a)(2).

The “fresh start” principle is a long-standing objective of Canada’s Bankruptcy and Insolvency Act (the “BIA“) that aims assist honest but unfortunate debtors by discharging debts owed to creditors. However, in the recent decision Poonian (Re), 2022 BCCA 274, the British Columbia Court of Appeal ruled that sanctions imposed by the British Columbia Securities (the “Commission“) in respect of fraud related misconduct will survive any discharge under the BIA.

On September 27, 2022, Phoenix Services Topco LLC, a steel mill service provider with approximately 2,600 employees, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10906). The company reports $500 million to $1 billion in both assets and liabilities.

On Sept. 19, the U.S. District Court for the Eastern District of Virginia entered an order1 adopting the report and recommendation, or R&R, of the chief bankruptcy judge2 approving the fee applications of three law firms in the retail group bankruptcy cases, including the requested national rates.

Federal district courts, with the consent of the parties, are authorized by statute to refer "civil matter[s]" to magistrate judges for the purpose of conducting all proceedings and entering a judgment in the litigation. In the case of an appeal to a district court from a bankruptcy court, however, this statutory authority arguably conflicts with another statutory provision dictating that appeals from a bankruptcy court order or judgment be heard by a "district court" or a "bankruptcy appellate panel." This apparent conflict was recently addressed by the U.S.

What is a Bankruptcy Petition?

A bankruptcy petition, put simply, is a petition to the Court to ask for a bankruptcy order against an individual and is usually presented on the grounds that the debtor cannot pay his/her debts. A bankruptcy order can result in the debtor’s assets being sold in order to repay outstanding creditors.

It often follows a statutory demand if you have not complied with that or otherwise sought to set it aside.

Can anyone petition for a debt?