Im (vorläufigen) Insolvenzverfahren ist es die Aufgabe des Insolvenzverwalters, für den Schutz personenbezogener Daten zu sorgen. Er übernimmt anstelle des ursprünglichen Geschäftsführers/Inhabers die Führung des Unternehmens und wird damit gemäß Art. 4 Nr. 7 Datenschutzgrundverordnung (DSGVO) datenschutzrechtlich verantwortlich. Das gilt nicht nur, wenn personenbezogene Daten für die Zwecke des Insolvenzverfahrens verarbeitet werden, sondern betrifft alle Verarbeitungsvorgänge im schuldnerischen Unternehmen. Ein „Insolvenzprivileg“ kennt das Datenschutzrecht dabei nicht.

The Slovak parliament recently passed a new law – The Temporary Protection of Distressed Undertakings Before Creditors – which came into effect on 1 January 2021. It replaces the current temporary protection (moratorium) adopted at the outset of the COVID-19 crisis.

The new regulation will only be granted where a majority of the unrelated creditors involved agree with the stay. This marks a departure from the COVID-19 moratorium, which could be easily accessed by all debtors impacted by the coronavirus pandemic.

As previously reported, the Corporate Insolvency and Governance Act 2020 (CIGA) had made some permanent and temporary changes to the insolvency regime.

Here we focus on the impact of CIGA on construction contracts and, in particular, how the new provisions impact on construction contracts and the Construction Act.

What is CICA?

As a rule, Belgian insolvency law does not tackle the issue of IP rights or licensing agreements in the event of insolvency proceedings. Their fate will therefore be subject to the general provisions of Belgian insolvency law, which vary depending of the type of insolvency proceedings concerned.

UPDATE #3 FROM THE RHTLAW CRISIS RESPONSETEAM:

This was a Court of Appeal decision which focused on s423 Insolvency Act 1986, as well as the ambit of directors' duties to creditors in a distressed company scenario. The below summary relates to the courts' analysis of the latter issue.

Facts

Appleton Papers Inc (API) was a wholly owned subsidiary of BAT Industries plc (BAT).

European Insolvency Regulation

De fiscale wetgever heeft in het kader van het Belastingplan 2018 voorgesteld om artikel 17 lid 2 Invorderingswet 1990 (hierna: “IW 1990”) te laten vervallen. Indien dit voorstel daadwerkelijk wordt ingevoerd, dan zou dit betekenen dat aan het verzet tegen de tenuitvoerlegging van een dwangbevel van de Ontvanger niet langer schorsende werking toekomt. Dit kan grote gevolgen hebben voor uw onderneming.

Background

Pars Ram Brother (Singapore Company) obtained trade financing facilities from various banks, and pledged the goods financed by each bank under a pledge arrangement as security.

The Singapore Company entered into voluntary liquidation. The liquidator discovered that the Singapore Company had mixed the goods making it impossible to identify which goods were financed by which bank.

Issue

In Re Swiss Cottage [2022] EWHC 1495 (Ch), junior creditors argued that administrators appointed to two companies had exceeded their powers and breached their duties when selling two properties.

Background