A bankruptcy judge in the Middle District of Florida recently sustained a Chapter 7 trustee’s objection to a non-Florida resident debtor’s attempted claim of the Florida homestead exemption. Although the debtor had lived in her Florida home for more than 20 years, she was not a United States citizen or a permanent resident with a so-called “green card.” Additionally, none of the debtor’s family members also living in the home were citizens or permanent residents.

A recent decision by the United States District Court for the Southern District of New York highlights directors’ fiduciary duty to evaluate all aspects of multi-stage transactions, including those portions to be effectuated post-closing by successor directors.

Mit dem Königlichen Gesetzesdekret 5/2021 vom 12. März 2021 hatte die spanische Regierung erneut die Insolvenzantragsfrist bis zum 31. Dezember 2021 ausgesetzt. Insolvenzanträge von Gläubigern werden von den spanischen Insolvenzgerichten bis zum genannten Datum ebenfalls nicht zum Verfahren zugelassen. Diese gesetzliche Regelung konnte aber auch nicht vermeiden, dass im Monat März die höchste Anzahl von Insolvenzanträgen seit 2014 gestellt wurden.  

The interesting times of the last 14 months were preceded by the interesting times of the financial crisis of 2008/2009. The reverberations of that financial crisis had a profound effect upon governments’ presumptions as to the financial stability of economies generally but also the financial stability of sectors such as financial services.

A discharge of debt in bankruptcy “operates as an injunction against the commencement or continuation of an action, the employment of process, or an act, to collect, recover or offset any such debt as a personal liability of the debtor. . . .” 11 U.S.C. § 524(a)(2). Certain debts, however, including debts “for violation of . . . any of the State securities laws,” are not subject to discharge. See 11 U.S.C. § 523(a)(19). A discharge injunction does not bar the collection of such debts.

Introduction

Duty of care in tort not established in favour of main contractor from third party sub consultant

Last March, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made several changes to the Bankruptcy Code, including those changes discussed in more detail here.

１ はじめに 

既に本ニュースレターでご説明のとおり、会社法が想定して いる会社の清算の原則的形態は、いわゆる通常清算手続 （会社法475条以下）です¹ 。また、会社が債務超過等に陥っ ていて、通常清算手続を行うことができない場合の特別規定 として、特別清算手続（会社法510条以下）や破産手続が定 められています² 。通常清算手続、特別清算手続及び破産手 続は、清算型手続と言われています。

このように、会社の清算にあたっては、通常清算手続、特別 清算手続又は破産手続を選択することが一般的ですが、本 来「再生型」の手続と言われる民事再生手続や会社更生手 続を利用して、会社の清算を行うことも可能です。

以下では、どのように民事再生手続や会社更生手続を使っ て会社の清算を行うことができるのか、簡単にご説明させて いただきます。

２ 清算型再生計画について

民事再生法において、会社を清算することを内容とする「清 算型」の再生計画に関する特段の規定はありません。

In brief On 1 January 2021, the Federal Government's post-COVID small business restructuring reform package1 came into effect.