Going, going, gone. Most people might associate those words with fine art, not bankruptcy. But in In re 388 Route 22 Readington Holdings, LLC, the question arose: is value reflected by an active, non-collusive auction, while not dispositive, strong evidence of fair value under section 363(b) of the Bankruptcy Code?

1. 2021 年を振り返って 2021 年に中国で最も注目を浴びた立法は「個人情報保護法」でした。また「データ安全法」も公布・施行されており、2017 年施行 の「ネットワーク安全法」と併せてデータ三法が出揃ったことになります。本稿でも紙数を割いて、それらの概要を紹介します。 そのほかにも、会社法、外商投資関連、環境法、破産法、各種取引法、知的財産、労働法、競争法等の各分野における重要な 立法や法改正が幾つもなされました。本稿では、2021 年における重要な立法や法改正を 2 回に分けて解説します。今回は、個人 情報保護法等を含むネットワーク情報関係、会社法分野、外商投資分野、環境法分野、破産法分野の重要立法等を取り上げま す。 2. ネットワーク情報関係 (1) 「中華人民共和国個人情報保護法」(国家主席令 91 号、2021 年 8 月 20 日公布、同年 11 月 1 日施行) ① データ三法に関する全体像 何度かの草案や意見募集を経て、ついに中国における個人情報保護法である中華人民共和国個人情報保護法(以下「個 人情報保護法」といいます。)が制定されました。これまで消費者権益保護法(2013 年改正)、権利侵害責任法(2010 年)といっ た個別法で規定されていた個人の情報保護について規定された点が最大の眼目といえます。

In Jackson v. Le Centre on Fourth, LLC (In re Le Centre on Fourth, LLC), 2021 U.S. App. LEXIS 33845 (11th Cir. Nov. 15, 2021), the Eleventh Circuit rejected creditors’ due process challenge to the release afforded to the debtor’s affiliates in a confirmed Chapter 11 plan.

Introduction

In 2016, with the birth of the Insolvency and Bankruptcy Code, 2016 (“IBC”), for the first time in its history, the country witnessed a comprehensive legislation which provided for a consolidated insolvency regime, whether it be for companies, partnership firms or individuals.

This article discusses the applicability of IBC to companies in which the Government of India has a stake.

What the law does not say

For some time, controversy has surrounded the question as to whether unsecured creditors of an insolvent company can utilise set-off under s 553C of the Corporations Act 2001 (Cth) (Act) against unfair preference claims.

Despite the Supreme Court’s rejection of a structured dismissal in 2017,[1] there is a growing trend of bankruptcy courts approving structured dismissals of chapter 11 cases following a successful sale of a debtor’s assets under Section 363 of the Bankruptcy Code.

Federal Rule of Bankruptcy Procedure 3002.1 was implemented to protect debtors from unanticipated deficiencies in residential mortgage payments following a chapter 13 discharge, and the Bankruptcy Court for the District of Puerto Rico’s recent opinion in In re Feliciano Figueroa[1] illustrates how detrimental the rule can be to inattentive mortgage holders.

The legal market in Scotland has changed over the last year, although perhaps not to the extent that anyone would have predicted. Firms have, in general terms, coped well with remote working and are beginning to cope well with hybrid working too. Traditional streams of work have been maintained and while some practice areas, such as insolvency and restructuring, have been quieter than anticipated, that has not had a significant impact on the bottom line. So, what can we expect in 2022?

1. Insolvencies will rise – even if we don’t experience the “tsunami”

As cross-border restructurings proliferate, especially in the wake of the global COVID-19 pandemic, companies with global assets and operations may utilize chapter 15 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) to facilitate cooperation between U.S. and foreign bankruptcy courts and protect assets located in the U.S. One doctrine central to relief under chapter 15 is the principle of comity, which refers to the recognition one nation’s legal system accords to another nation’s judicial proceedings. In chapter 15 proceedings, U.S.

When 2020 ended, many of us were unsure what 2021 would look like from a bankruptcy perspective. Would consumer filings increase? Could we see bankruptcy reform and particularly in the area of discharge of student loans? There was a lot to consider throughout the year. This article will provide some insight as to what we saw and where we may be headed in 2022.

Bankruptcy Filings Down in 2021

Bankruptcy filings through the first 11 months of 2021 were at their lowest levels since the 1980’s.