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    Spanish banks must refund homebuyers’ deposits on unfinished developments
    2016-06-29

    A ruling by the Supreme Court in Spain says Spanish banks that held deposits for property that was never built are to be held to account. Around 100,000 people in the UK are thought to have paid big sums towards such properties in Spain but these were lost when several developers went bust in the wake of 2008’s financial crisis. Estimates for how much British buyers could claim are around £4bn.

    Filed under:
    Spain, United Kingdom, Banking, Insolvency & Restructuring, Real Estate, Squire Patton Boggs, Joint and several liability, Supreme Court of the United States
    Authors:
    Cristina Fernandez , Ramón Castilla
    Location:
    Spain, United Kingdom
    Firm:
    Squire Patton Boggs
    Spanish Corporate-Real Estate Legal Update nº 31. July 2016: The Supreme Court Rates a Credit as Subordinated Because the Creditor Is a Company Belonging to the Insolvent Company’s Group
    2016-07-06

    Judgment of the Supreme Court, Chamber One, Number 134/2016, 04 March

    Filed under:
    Spain, Insolvency & Restructuring, Litigation, Real Estate, Squire Patton Boggs, Legal personality, Shareholder, Credit (finance), Debtor, Consideration, Debt, Mortgage-backed security, Supreme Court of the United States, Court of Cassation (France)
    Authors:
    Ramón Castilla
    Location:
    Spain
    Firm:
    Squire Patton Boggs
    Spanish Corporate-Real Estate Legal Update nº 31. July 2016: Determination of the Moment at Which Director Liability Arises for Corporate Debts in the Event of Company Insolvency
    2016-07-06

    Supreme Court Judgment dated 10 March 2016 (STS 151/2016)

    The judgment of the Supreme Court analyses the objective scope of extension of the liability for obligations and debts for which, as appropriate, the director of a company should be liable and, more specifically, the scope of "the corporate obligations subsequent to the occurrence of the legal ground for dissolution".

    Filed under:
    Spain, Company & Commercial, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Patent infringement, Interest, Consideration, Debt, Court costs, Joint and several liability, Capital punishment, Dissolution (law), Supreme Court of the United States, Court of Appeal of England & Wales, South Africa Supreme Court of Appeal
    Authors:
    Ramón Castilla
    Location:
    Spain
    Firm:
    Squire Patton Boggs
    On the rescission of dividends paid during the suspect period agreed in advanced within insolvency proceedings
    2015-03-31

    The Supreme Court rules in a recent decision over different bankruptcy incidents. The first relates to a work contract to supply materials in which a penalty clause for late work is established, and the ability to execute the works under the guarantee provided in the contract if the contractor may not execute them. Having a delay in delivery of the work and having entrusted to another company the repair works, the owner claimed the payment of the amounts and compensation with the guarantee held.

    Filed under:
    Spain, Company & Commercial, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Bankruptcy, Supreme Court of the United States
    Authors:
    Silvia Ara
    Location:
    Spain
    Firm:
    Squire Patton Boggs
    Restructuring - January 2014 - Supreme Court ruling No. 523/2013, of December 5, 2013: insolvency classification of finance lease instalments
    2014-01-28

    The Supreme Court reiterates the doctrine in its rulings of February 12 and 19, 2013, although in this case, unlike the above rulings, in which the credits were classified as insolvency credits, it concluded that instalments resulting from one finance lease agreement falling due after the declaration of insolvency are claims against the insolvency estate.

    Filed under:
    Spain, Insolvency & Restructuring, Litigation, Cuatrecasas, Interest, Supreme Court of the United States
    Location:
    Spain
    Firm:
    Cuatrecasas
    Newsletter restructuring: case law
    2013-07-16

    SUPREME COURT RULING NO. 44/2103, OF FEBRUARY 19, 2013: INSOLVENCY CLASSIFICATION OF FINANCE LEASE INSTALMENTS DEPENDS ON SPECIFIC PROVISIONS OF THE LEASE AGREEMENT

    Supreme Court finds that where a finance lease agreement releases the lessor from liability for defects, credits resulting from payments due before the declaration of insolvency and for those falling due after it are insolvency credits  

    Filed under:
    Spain, Insolvency & Restructuring, Litigation, Cuatrecasas, Dividends, Refinancing, Supreme Court of the United States
    Location:
    Spain
    Firm:
    Cuatrecasas
    Supreme Court decision on provisional removal of debtor's objections
    2013-08-30

    Introduction
    Facts
    Supreme Court decision
    Comment


    Introduction

    Filed under:
    Switzerland, Insolvency & Restructuring, Litigation, MLL Legal Ltd, Shareholder, Debtor, Debt, Supreme Court of the United States
    Authors:
    Sabina B. Schellenberg
    Location:
    Switzerland
    Firm:
    MLL Legal Ltd
    DIFC Court Judgment Enforced in Australia
    2016-07-25

    In a landmark legal development, a judgment of the DIFC Courts has been recognised and enforced for the first time in a Western jurisdiction.

    The Supreme Court of New South Wales, Australia, issued an order recognising and enforcing the DIFC Courts judgment issued by Justice Sir Richard Field in Legatum Limited v Arif Salim (CFI 027/2014).

    Filed under:
    United Arab Emirates, Company & Commercial, Insolvency & Restructuring, Litigation, Al Tamimi & Company, Dubai International Financial Centre, Supreme Court of the United States, DIFC Courts
    Authors:
    Tarek Shrayh
    Location:
    United Arab Emirates
    Firm:
    Al Tamimi & Company
    Property, Chancery and Commercial Group Briefing - March 2020
    2020-03-31

    Welcome to this bulletin from 1 Chancery Lane's Property, Chancery and Commercial Law team.

    In this edition:

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Deka Chambers, Landlord, House of Lords, Supreme Court of the United States
    Location:
    United Kingdom
    Firm:
    Deka Chambers
    Rubin v. Eurofinance - a welcome clarification for the insolvency world
    2012-11-07

    On 24 October 2012 the UK Supreme Court handed down its highly anticipated decision on the enforceability of foreign judgments in the case of Rubin v. Eurofinance S.A. [2012] UKSC 46, reversing the previous judgment of the Court of Appeal which had significantly altered the landscape of cross-border insolvency.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Carey Olsen, Common law, Supreme Court of the United States, Court of Appeal of England & Wales, UK Supreme Court
    Location:
    United Kingdom
    Firm:
    Carey Olsen

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