On Monday 14th September 2020, Mrs Justice Falk issued her reasoned judgment, in respect of the application by Codere Finance 2 (UK) Limited (the "Company") to convene a single class of its creditors to consider and vote on a proposed scheme of arrangement under Part 26 of the Companies Act 2006 ( the "Scheme").
In a hearing spanning three days, the High Court of England and Wales addressed multiple grounds of challenge from a dissenting noteholder but nonetheless granted the Company's request to convene a single meeting of its scheme creditors.
Background
第一 前言
可能有些人对于“动产买卖先取特权”这个名词已很熟悉，但出乎意料的是只有少数人真正运用 过动产买卖先取特权。近日笔者便负责了一起运用动产买卖先取特权实现债权回收的案件（以下简 称“本案”），以下将对本案进行介绍。
另外，本文着重以通俗易懂的方式对动产买卖先取特权进行解说，并不涉及详细内容。因此在讨 论具体案情时，请您咨询律师。
第二 动产买卖先取特权为何
动产买卖先取特权是指有关买卖货款及其利息，就作为买卖标的物的动产，卖方债权优先于其他 债权人受偿的权利（《日本民法》第303条、第311条第5款、第321条）。
动产买卖先取特权并不需要在合同上明确规定卖方享有该权利。如果您是动产的卖方，基于民法 您便享有先取特权。
In In re Smith, (B.A.P. 10th Cir., Aug. 18, 2020), the U.S. Bankruptcy Appellate Panel for the U.S. Court of Appeals for the Tenth Circuit recently joined the majority of circuit courts of appeals in finding that a creditor seeking a judgment of nondischargeability must demonstrate that the injury caused by the prepetition debtor was both willful and malicious under Section 523(a)(6) of the Bankruptcy Code.
Factual Background
The Federal Government has announced its largest insolvency reform package in over 30 years, which includes a simplified formal debt restructuring process for eligible small businesses.
The centerpiece of the reforms is the adoption of a US-style "debtor in possession" restructuring model, which closely mirrors the recently enacted small business restructuring provisions of subchapter V of the US Bankruptcy Code.
The Corporate Insolvency and Governance Act, which received Royal Assent on 25 June 2020, contains a range of significant reforms, not least of which is the introduction of a new Restructuring Plan process dubbed the Super Scheme. The first such Restructuring Plan, used in the financial restructuring of Virgin Atlantic Airways (VAA), was sanctioned by the High Court on 2 September 2020 representing a new landmark in the UK restructuring landscape.
On 29 September 2020, the Dutch Senate’s justice committee decided that the Dutch Scheme bill can be dealt with as a formality (hamerstuk) without further debate. It did so after the Dutch Government submitted to the Dutch Senate’s justice committee its memorandum of reply (Memorie van Antwoord) regarding the Dutch Scheme, or to use the full title: the Act on confirmation of private restructuring plans (commonly referred to as the WHOA, after its Dutch acronym). This blog highlights the various topics covered in the memorandum of reply.
What have we been up to?
The days and nights may well be getting noticeably cooler, but as a team we remain very much at simmer point in terms of the demands of newlyacquired business support and insolvency work and staying on top of recent legislative changes.
Amongst this month's work highlights have been:
(In Provisional Liquidation in Bermuda)
We recently acted for the joint provisional liquidators of Rare Earth Magnesium Technology Group (“the Company”) appointed by the Supreme Court of Bermuda in a conventional application for the recognition of the Bermuda soft-touch provisional liquidation of the Company
The Company was incorporated in Bermuda and is listed on the Hong Kong Stock Exchange with operating subsidiaries in Mainland China.
On Friday 18 September 2020 the German Federal Ministry of Justice published draft legislation which has the potential of fundamentally changing the restructuring landscape in Germany.
An essential part of the law is the introduction of a corporate stabilisation and restructuring regime, which establishes a comprehensive legal framework for out-of-court restructurings in Germany on the basis of the EU Restructuring Directive of 20 June 2019 (Directive (EU) 2019/1023) (the Preventive Restructuring Framework).