율촌 입법 위클리는 한 주간의 입법 및 정책 동향 중 특히 기업의 규제 대응 담당자 및 의사결정권자들 이 주목해야 할 동향만을 선별하여 담은 주간 리포트입니다. 이번 호는 지난 12월 20일과 21일 국회 본회의에서 의결된 예산안과 주요 법률안을 담고 있습니다. 지난 주 국회 본회의에서는 「2024년도 예산안」 및 「2024년도 기금운용계획안」과 「소득세법 일부개정 법률안」 등 세입예산안 부수 법률안 등이 의결되었습니다. 국회가 수정 의결한 2024년도 예산안 및 기 금운용계획안은 정부안 656조 9천억원(총지출 기준) 대비 약 4조 2천억원을 감액, 약 3조 9천억원을 증액해 전체적으로는 약 3천억원 순감액되었습니다. 또한 개인금융채무자의 연체이자 부담을 낮춰주는 「개인금융채권의 관리 및 개인금융채무자의 보호에 관한 법률안」, 첨단산업 분야 인재양성을 지원하는 「첨단산업 인재혁신 특별법안」, 전기통신서비스의 안정성을 제고하는 「전기통신사업법 일부개정법률안」, 성범죄·강력범죄 등의 전력자의 배달대행기사 취업을 제한하는 「생활물류서비스산업발전법 일부개정법률안」 등 총 145건의 법률안이 의결되었습니 다.
2024: main new legislation needing to be considered by companies in Spain 2024 Viewpoint Spain 2 2024: main new legislation needing to be considered by companies in Spain December 2023 Professionals in the various practice areas at Garrigues take a look, from all angles of business law, at the main new legislation that companies will face in the coming year. 2024 promises to be an intense year in terms of statutory and case law.
This article was first published in December 2023 by Law360.
English schemes of arrangement have long been used to restructure the debts of both English and foreign companies. This has made the UK a center of cross-border restructurings.
The scheme's more powerful cousin, the restructuring plan, with its ability to cram down entire classes of dissenting creditors, has bolstered the UK's position in the global restructuring market.
Daniel Chow and I had the honor of being invited to engage in and deliver a presentation at a dynamic seminar hosted by the Taxation Institute of Hong Kong. The seminar attendees primarily consisted of skilled tax practitioners and accountants in Hong Kong. During the discussion, we provided the participants with an overview of restructuring and insolvency, along with the most recent market advancements.
Here are a few key topics we addressed during the seminar:
Welcome to our monthly newsletter, with a summary of the latest news and developments in UK employment law.
In this issue
- Case law updates
- Legislative developments
- Other news
- New guidance
- Consultations
Recent publications
An analysis of recent statistics show what the Insolvency and Tax Disputes teams at Mishcon de Reya have long experienced – that HMRC is not in the habit of overlooking an outstanding debt.
Ken Baird, Katharina Crinson, Guilhem Bremond, Michael Broeders, Charlotte Ausema, Jan-Philip Wilde, Ana López, Silvia Angós, Mark Liscio and Samantha Braunstein, Freshfields Bruckhaus Deringer
This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
A free-standing moratorium for financially distressed but ultimately viable companies was introduced in 2020. It is sometimes called a Part A1 moratorium, after the part of the Insolvency Act 1986 which provides for it.
In a recent development, the Supreme Court dismissed the review petitions filed against its decision in State Tax Officer v Rainbow Papers Ltd., which had disturbed the settled position that in insolvency resolution proceedings, statutory dues (including tax claims) fall in the category of operational debt. Instead, the Supreme Court held that statutory dues qualify as debts owed to a secured creditor, and a resolution plan that ignores such debts is liable to be rejected.
Rainbow Papers: The Judgment
In State Tax Officer (1) v. Rainbow Papers Ltd., 2022 SCC OnLine SC 1162 ("Rainbow Papers"), the Supreme Court dealt with the question as to whether the provisions of the Insolvency and Bankruptcy Code, 2016, ("IBC") (specifically Section 53) overrides Section 48 of the Gujarat Value Added Tax Act, 2003 ("GVAT Act").
Section 48 of the GVAT Act provides as follows.
Section 48. Tax to be first charge on property: