This guide provides a comparative analysis of certain key areas of law and procedure for those involved in or affected by financial distress of a corporation and the trading of distressed debt across Europe.
Our tracker contains an overview of changes made in light of the Covid-19 outbreak which impose restrictions on creditor rights, relax debtor obligations to file for insolvency or concern other insolvency-related issues. As you will appreciate, this is a dynamic situation, and both the measures announced and applicable legal framework will continue to evolve in the coming days, weeks and months
Freezing Injunctions
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.
Recent Developments
Legal & Regulatory
BRRD: FCA publishes modification by consent for Article 55 rules
Introduction
Legal framework
Future developments
Practical guidelines and tips
Introduction
Suppliers are often surprised by their customers' insolvency and only at that moment discover that the goods that they delivered are unpaid.
Petroplus, the largest independent refiner and wholesaler of petroleum products in Europe entered into various insolvency proceedings in Switzerland, England and Wales, France, Germany and Belgium on 24-27 January 2012 after the group failed to reach agreement with its creditors to extend the deadline of its loan repayments.
Recent Developments
We are pleased to present this Summer 2011 edition of the CMS Restructuring and Insolvency in Europe Newsletter.