The High Court recently extended the bankruptcy period of an Irish businessman to a total of 13 years.
The usual bankruptcy term is one year, however this can be extended in cases of non-cooperation or non-disclosure of assets with the maximum term being 15 years.
Se amplía la moratoria concursal hasta el 30 de junio de 2022
El 24 de noviembre se publicó en el Boletín Oficial del Estado (BOE) el Real Decreto-ley 27/2021, de 23 de noviembre, por el que se prorrogan determinadas medidas económicas para apoyar la recuperación. Dicha norma recoge, entre otros aspectos, la extensión, hasta 2022, de la aplicación de ciertas medidas favorables a las empresas, en materia concursal, societaria, administrativa y de avales y ayudas públicas.
According to a recent decision by the High Court in R (on the application of Palmer) v Northern Derbyshire Magistrates Court, an Administrator is an officer of a company in administration for the purpose of collective redundancy rules.
This means an Administrator can be prosecuted personally for failing to notify the Insolvency Service of collective redundancies being made by the company in administration.
Background law
Selección de las principales resoluciones sobre reestructuraciones e insolvencias.
Homologada la refinanciación del Grupo Naviera Armas
Auto del Juzgado de lo Mercantil núm. 1 de Las Palmas de Gran Canaria de 27 de octubre de 2021
Debtor's Right to Consensual Sale of Seized Property
On Tuesday, November 30, 2021, the Law numbered 7343 on the Amendment of Enforcement and Bankruptcy Code and Some Other Codes were promulgated in the Official Gazette numbered 31675 and entered into force on the date of promulgation in accordance with Article 5 of the same code.
Although several changes have been made regarding mentioned code, in the compulsory enforcement system for the first time. The debtor is authorized to consensually sell the seized property.
5. Yargı Paketi kapsamında 30.11.2021 tarih ve 31675 sayılı Resmî Gazete’de yayımlanarak yürürlüğe giren 7343 sayılı İcra ve İflas Kanunu ile Bazı Kanunlarda Değişiklik Yapılması Hakkında Kanun (“7343 sayılı Kanun”) ile, 4721 sayılı Türk Medeni Kanunu ve 5395 sayılı Çocuk Koruma Kanunu gibi diğer kanunların yanı sıra, 2004 sayılı İcra ve İflas Kanunu’nda (“İİK”) pek çok önemli değişiklik yapılmıştır.
The Law Amending the Enforcement and Bankruptcy Law and Certain Other Laws No. 7343 (“AmendmentLaw”), known as the 5th Judicial Reform Package, which entered into force upon publication in the Official Gazette (31675) dated November 30th, 2021, introduced several important changes to the Enforcement and Bankruptcy Law No. 2004 (“Law No. 2004”), as well as Turkish Civil Law No. 4721 and Child Protection Law No. 5395.
In certain sectors, in particular in technology and life sciences, it is common for companies to combine forces in order to maximise business opportunities. Only rarely can a single company undertake every aspect of (for example) invention, development and exploitation by itself. A company may decide to contract out such activities, or to collaborate with a third party with different skills or resources. Such a collaboration may take the form of a joint venture.
Voyager Aviation Holdings, LLC (Voyager) is a privately held aircraft owner and lessor with approximately $2 billion in assets. Voyager is headquartered in Dublin and has offices in Stamford, Connecticut.
Earlier this year, A&L Goodbody LLP advised Voyager on the successful restructuring of its senior note obligations.1 The restructuring was implemented by way of a US exchange offer that simultaneously solicited support for both a "plan B" Irish scheme of arrangement and a "plan C" prepack US Chapter 11.