|
Written by: India Briefing, Dezan Shira & Associates , Posted:
5th August 2020 08:56
India’s economy is showing signs of recovering after withstanding some of the worst impacts of COVID-19, including prolonged nationwide shutdowns.
As India enters Unlock 3 from August 1, which will see more of the country reopening after lockdown, we discuss some of the earliest indicators, ‘green shoots,’ of economic& ... Read more...
|
|
Written by: Ayman Falak Medina, ASEAN Briefing, Dezan Shira & Associates , Posted:
21st April 2020 11:48
On March 27, 2020, the Malaysian government issued its second stimulus package to combat the economic impact of the COVID-19 pandemic.
The second package, valued at 250 billion ringgit (US$57 billion), focused on enhancing the existing ... Read more...
|
|
2nd September 2019 10:56
Weatherford International plc (NYSE: WFT) ("Weatherford" or the "Company") announced today that additional holders of its senior not ... Read more...
|
|
By: Vasundhara Rastogi, ASEAN Briefing, Dezan Shira & Associates, Posted:
8th October 2018 10:20
Terminations come with inherent risks of employees filing lawsuits against employers, and can be expensive. As each country in ASEAN has its own employment law, it is important for multinational companies that operate within the region to ensure that their contracts are in line with the local requirements in each jurisdiction. In this article, we provide a brief overview of statutory regimes in th ... Read more...
|
|
By Allen Wilen, Posted:
15th August 2018 09:59
With liquidity at an all-time high, we are experiencing an unprecedented period in the history of business investment. Corporations and Funds have mountains of dry powder, yet we hear sentiments from executives, investors and lenders alike that the quality of deals continues to decline. With the ever-increasing pressure to deploy capital and win deals coupled with a collapsing structure and thinne ... Read more...
|
|
By: Dezan Shira & Associates, Vietnam Briefing, Dezan Shira & Associates, Posted:
9th July 2018 08:59
Labor intensive sectors continue to be the growth drivers for Vietnam’s economic development. However, as the world moves towards Industry 4.0, the government has to introduce significant reforms across all the main sectors of the economy, to increase the productivity, skills, and quality of labor to remain competitive.
Labor productivit ... Read more...
|
|
By Koushan Das, Vietnam Briefing, Dezan Shira & Associates, Posted:
14th June 2018 08:20
Vietnam currently has around 3,000 startups involved in sectors such as fintech, food tech, healthcare, and e-commerce. In 2017, 92 startups received investments worth US$ 291 million, 42 percent higher compared to 2016, while the number of startups increased by 45 percent. The industry still lags in terms of funding and scale when compared to startups in Southeast Asia, but there is h ... Read more...
|
|
By Rohini Singh, India Briefing, Dezan Shira & Associates, Posted:
12th June 2018 08:38
As India integrates into the global market, foreign firms entering the country have to strike a balance between following their own best practices while adapting to local norms and having a firm understanding of legal requirements in the country.
Good human resource (HR) practices streamline organizational functions and ensure low attrition rates ... Read more...
|
|
By Matthew Dundon, Posted:
3rd May 2018 09:53
Debtors regularly enter bankruptcy facing litigation which was already pending.[1] Aggressive management of pre-petition litigation can generate value for plaintiffs which is significant in ... Read more...
|
|
By Dr. Magnus Hirsch & Madeleine Metzner , Posted:
19th April 2018 08:39
The damage caused by counterfeit and piracy products is a major problem and threat in the European Union as well as in Germany. In combatting counterfeit and other IP infringements, the rights owners have several options and can seek the help of various instances. While the following article specifically looks in to the enforcement side of measures, preparation by clear and strong registrations of ... Read more...
|
|
By Claudio Graeff, FTI Consulting, Posted:
2nd September 2016 08:21
2016 has been a landmark year for ethics and compliance concerns in Brazil. The so-called “Car Wash” (“Lava Jatos”) scandal surrounding allegedly improper payments made involving Petrobras, the Brazilian state oil company, in exchange for lucrative construction contracts for major refining and distribution facilities, has already resulted in scores of politi ... Read more...
|
|
By Asean Briefing, Posted:
25th August 2016 08:19
Malaysia’s recent addition of a Goods and Service Tax (GST), which was passed by the government during the third quarter of 2011 but delayed until April 2016, has been the cause of much confusion within ASEAN’s second most developed economy. The hope and purpose of GST is to replace the sales and service tax which has been used in the country for several decades. However, with ... Read more...
|
|
By India Briefing, Posted:
2nd August 2016 07:48
The Indian government’s attempts to ease doing business currently seem one-sided. Facilitating market entry and tearing down barriers to production and trade are just one side of the coin. The other involves allowing defunct, unhealthy firms to seamlessly exit the market, where they can easily liquidate their assets.
The current fin ... Read more...
|
|
1st July 2016 11:17
Who are the main regulators and what are the key legislations that apply to the cybersecurity in your jurisdiction?
The key legislation relating to cybersecurity is a composite of national law and EU Directives which typically impose security obligations on businesses, e.g. security of data and security of networks.
< ... Read more...
|
|
By Pedro Velasco de la Peña, Rodrigo Castelazo de la Fuente & Christian Dorantes Picazo, Posted:
24th March 2016 10:24
On 13 January 2014, several amendments to the Mexican Insolvency Law (Ley de Concursos Mercantiles, the “Insolvency Law”) were enacted as part of a financial reform which included amendments to 34 statutes. These amendments were designed to address long-standing concerns arising from inefficiencies and lack of certainty over the results of collection efforts and the foreclosure ... Read more...
|
|
By Zheng Zhibin, Posted:
10th March 2016 10:17
According to Darwinian evolution, survival of the fittest is one of the most important rules in nature. This rule can also works on capital market, every year, there are many failing companies go into bankruptcy proceedings. Bankruptcy merger and acquisition refers to the mergers and acquisitions targeting distressed enterprise. In addition to bankruptcy, merger and a ... Read more...
|
|
By Richard H Golubow, Posted:
4th March 2016 09:45
In June 2015, the United States Supreme Court in the case of Baker Botts, L.L.P. v. ASARCO, L.L.C., 135 S. Ct. 2158 (2015), issued a ruling that dramatically changed the landscape for professionals retained to represent bankruptcy debtors, trustees, and official creditors’ committees. Attorneys and other advisors retained by a debtor, a trustee or an official creditors&rsqu ... Read more...
|
|
By Aleš Velkaverh & Aleš Štravs, Posted:
14th December 2015 10:22
Introduction
Since its declaration of independence in 1991, Slovenia (covering merely 20.000 square kilometres and having a population of 2 million) underwent an important path. It is now a well-developed country and a member of the EU and NATO. Its economy, geographical position and the well-educated population (the majority of its people be ... Read more...
|
|
By Monika Strus-Wołos, Posted:
9th December 2015 16:43
The new Restructuring Law will enter into force in Poland on 1 January 2016. It significantly changes regulations concerning entrepreneurs’ debt reduction. It also continues the reform of insolvency law system.
Current Bankruptcy and Reorganization Law recognise three models of procedures: (i) bankruptcy procedure involvi ... Read more...
|
|
4th November 2015 12:16
Have there been any recent regulatory changes or interesting developments?
In June, a federal judge in the Southern District of New York issued a final ruling on the merits in favor of bondholders who had alleged that certain proposed out-of-court restructurings that involved changes to non-payment terms of governing bond indentures ... Read more...
|
|
23rd October 2015 12:07
Have there been any recent regulatory changes or interesting developments?
In December 2014, the American Bankruptcy Institute’s (ABI) Commission, comprised of several prominent insolvency and restructuring professionals in the United States, released a 400-page report with proposed reforms to Chapter 11 and related statut ... Read more...
|
|
By Tracie Sloop Frost, Posted:
4th September 2015 09:31
In his maiden budget speech in July 2014, Indian Finance Minister Arun Jaitley announced that an “entrepreneur friendly legal bankruptcy framework” would be developed as part of a move toward “higher growth, lower inflation, and a prudent policy stance” for India. Shortly afterwards, the Ministry of Finance set up the Bankruptcy Law Reform Commit ... Read more...
|
|
By Dezan Shira & Associates, Posted:
21st July 2015 08:57
This article discusses two of the four options for restructuring as mentioned in our June 2015 magazine “How to Restructure an Underperforming Business in China“. For more information, please refer to the magazine ... Read more...
|
|
By Pheo M. Hutabarat, Rosna Chung & Asido M. Panjaitan, Posted:
20th March 2015 09:49
In general, the strategy for debt recovery in Indonesia can be achieved through submitting (i) a litigation process in front of the Indonesian courts and (ii) a bankruptcy petition by foreign creditors against the Indonesian debtors. This article will focus on some relevant issues that need to be taken into consideration by the foreign creditors when they opt to implement the bankruptcy ... Read more...
|
|
By Alessandro Farsaci & Jörg Kilchmann, Posted:
13th March 2015 09:56
The legal framework for corporate restructuring and turnaround situations in Switzerland is expected to undergo further changes. The preliminary draft bill on the revision of Swiss corporate law of 28 November 2014(1) that is currently in its consultation phase provides for a further strengthening of the early warning system of companies. It is still earl ... Read more...
|
|
By Luca Petroni & Jacopo Barontini, Posted:
4th March 2015 09:17
A long period of crisis
In the last five years, Italy has undoubtedly gone through one of its most critical economic periods, and it is fair to say that the period of recession has been met with some greater pessimism than in other Eurozone countries. The general loss of business corporations’ competitiveness &a ... Read more...
|
|
By Julie Engwirda, Posted:
3rd March 2015 08:43
For many members or creditors who apply for the appointment of a liquidator, there is a feeling that the real battle is won once the liquidator has been appointed. However, what happens when the liquidation is not conducted in a way that falls within the expectations of the members or creditors of the company. More importantly, to what extent can the members or creditors challe ... Read more...
|
|
By Didier Bruère-Dawson, Posted:
24th February 2015 09:22
The European Commission enacted a recommendation of a new approach to business failure and insolvency on 12 March 2014. The Commission’s proposal extends the scope of the Council Regulation number 1346/2000 promoting preventive procedures. The aim of this recommendation is to enable restructuring as soon as insolvency becomes likely therefore maximising the debtors&am ... Read more...
|
|
By Peter C. Blain, Posted:
23rd February 2015 09:31
The U.S. Supreme Court in Citizens Bank of Maryland v. Strumpf, 516 U.S. 16 (1995) made clear that a bank which has setoff rights against a borrower/depositor may place an administrative hold on, or "freeze," a borrower's bank account without fear of violating the automatic stay imposed under section 362 of the United States Bankruptcy Code. 11 U.S.C. ... Read more...
|
|
By Zhibin Zheng, Posted:
17th February 2015 09:01
Reorganisation refers to a legal systemin which the review by the court, according to the petition of an interested party, believes it is possible to avoid the enterprise’s bankruptcy and achieve the aim of regeneration by restructuring the debtor’s credits and debts through the judicial decisions, reorganising asset or re-arranging managements.
... Read more...
|
|
By Anton Korobeynikov , Posted:
23rd September 2014 09:19
In 2014 and 2015, a lot of external debt of major Ukrainian borrowers is approaching its maturity. Around US$3 billion of Ukrainian Eurobonds alone (excluding government and municipal bonds) will need to be repaid in the course of the next year. Taking into account the current economic situation in Ukraine aggravated by the recent political turbulence and ongoing military confl ... Read more...
|
|
By Chet Sheltema, Posted:
22nd April 2014 08:50
BEIJING – The American executive was bewildered and somewhat panicked. Calling late in the evening from the U.S. Midwest, he was trying to understand where his Chinese company’s corporate financials were being held and why he couldn’t access them. Local management had become uncooperative and refused to answer questions or provide information. The executive wondered w ... Read more...
|
|
By Edward Barbour-Lacey, Posted:
28th March 2014 08:59
HANOI – The world may not know much of Vietnam’s tech startup community, but the changes taking place within this community may soon bring it to the attention of investors and consumers throughout the world.
Vietnam is a prime market for hi-tech products, particularly those that relate to the internet and can be downloaded as games or apps. The country ha ... Read more...
|
|
By Dezan Shira & Associates, Posted:
17th March 2014 08:51
HANOI – Vietnam’s Foreign Investment Agency (FIA) has released new foreign direct investment numbers for this year up to February 20, 2014.
There have been 122 new projects granted investment certificates. These projects had a total registered capital of US$830.87 million. Forty-one projects increased their investment capital by a total of U ... Read more...
|
|
By Graham Lawes and Debbie Young , Posted:
6th March 2014 08:47
The global financial crisis precipitated a pronounced and largely unprecedented period of financial restructuring activity in Europe across all industry sectors. This was driven by uncertainty caused by the impact of the recession, the sovereign debt crisis and the global downturn in consumer confidence.
However, the second half of 2013 gene ... Read more...
|
|
By Frank Grell, Hendrik Hauke & Daniel Splittgerber, Posted:
27th February 2014 09:23
In 2012, German insolvency law has been substantially reformed by the so-called ESUG reform act (i.e., Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen). The German parliament intended to make the German Insolvency Act (Insolvenzordnung) more attractive and competitive compared to foreign insolvency law regimes - like the U.S. and ... Read more...
|
|
By Van C. Durrer, II, Posted:
21st February 2014 09:00
While the scope of multi-national companies’ use of US restructuring techniques remains unclear, the anecdotal evidence seems to be mounting—Hibu PLC, Lone Pine Resources, Zlomrex International Finance SA (an affiliate of Cognor SA), Maxcom Telecomunicaciones S.A.B. de C.V., and XChange Technology Group LLC have all commenced US insolvency proceedings in recent months. ... Read more...
|
|
By Guy Harvey, Posted:
14th February 2014 08:47
When Shakespeare said we should kill all lawyers he was not referring to Magic Circle corporate or TMT partners, they had not been invented yet; and conveyancing and private client work were in their infancy. No, what he had in his sights were litigators and 250 years later Dickens aimed his withering fire at the chancery lawyers in Bleak House. Where does that leave us in the ... Read more...
|
|
By Juraj Alexander & Jiří Stržínek, Posted:
27th November 2013 09:30
Czech law provides a very favorable reorganisationregime for insolvent companies, with great flexibility and significant tools designed to enable value-creating restructurings. As an example of such a restructuring, we describe a case on which we worked recently. Afterwards, we describe several changes to the reorganisationregime, which will be implemented as of 1 January 2014 ... Read more...
|
|
By Dezan Shira & Associates, Posted:
18th November 2013 08:35
China’s Social Insurance Law provides that foreigners working in the country are required to participate in the national social insurance scheme. In September 2011, the MHRSS further promulgated the Interim Measures for Participation in the Social Insurance System by Foreigners Working within the Territory of China (Interim Measures), which became effective on October 15, 2011 and laid o ... Read more...
|
|
With Andrii Grebonkin – Clifford Chance LLC, Posted:
14th October 2013 10:57
Have there been any regulatory changes or interesting developments over the past twelve months?
On 19 January 2013 the restated Insolvency Act became effective in Ukraine. The introduced changes, which impacted both debtors and creditors, were an attempt to create a more streamlined and efficient insolvency process and to ... Read more...
|
|
With Mary Fernandez - Headrick Rizik Alvarez & Fernández, Posted:
9th October 2013 09:59
Mary Fernandez is a founding partner of Headrick Rizik Alvarez & Fernández, Dominican Republic. She specialises in corporate and business law, banking law, foreign investment, intellectual property, arbitration, and trusts and estates. Serves as the Chair of the Legal Committee of the American Chamber of Commerce and is a member of the Bo ... Read more...
|
|
8th October 2013 08:48
Have there been any recent legislative changes or interesting developments?
New changes to the Immigration Rules come into effect on Tuesday 1 October 2013, designed to bring “greater flexibility” for businesses, workers and visitors.
Key changes include the following: ... Read more...
|
|
By Webb Ward, Posted:
25th September 2013 15:24
When someone outlines a business plan, they rarely take into account the importance of making a reality check of his or her personal health before going on with their plans. You can have the best business idea in mind and the working capital to carry it out. However, if your health condition is poor or you are prone to illness for no reason at all, it is time to stop for a moment and t ... Read more...
|
|
By Darío U Oscós, Darío A Oscós & Oscós Abogados, Posted:
30th August 2013 08:28
XI. Insolvency of Corporate Groups
The LCM does not regulate groups of companies. There is no piercing of the corporate veil. The LCM provides that the concurso mercantil of holding and subsidiary companies shall be joint, but each company insolvency shall be conducted as a separate filing.&a ... Read more...
|
|
By Darío U Oscós, Darío A Oscós & Oscós Abogados , Posted:
29th August 2013 09:02
I. Governing Law
The Commercial Insolvency Law (the LCM), namely Ley de Concursos Mercantiles governs commercial insolvency. It is a federal law. It applies to me ... Read more...
|
|
By Dezan Shira & Associates, Posted:
27th August 2013 10:45
According to the 2013 Global Retail Development Index (GRDI), a study by the management consulting firm A.T. Kearney, China ranks fourth globally for retail development. Meanwhile, India’s retail development ranking fell nine spots from the 2012 GRDI to fourteenth overall after experiencing backlash from the global economic slowdown. A comparison of India and China’s retail sec ... Read more...
|
|
By Eunice Ku & Adam Livermore, Posted:
24th July 2013 10:06
It is not (as has been suggested elsewhere online) illegal to use independent contractors in China, however, care must be taken when assessing the relevant employment law. Engaging independent contractors can be a useful strategy for foreign investors in China, especially when involved in specific project work that does not call on the need for permanent workers. The use of them can essentially be ... Read more...
|
|
By Sai Venkateshwaran, Posted:
27th June 2013 08:38
The reality of jurisdictional diversity in the road towards global IFRS convergence
International Financial Reporting Standards or IFRS have come a long way in its journey towards being a set of high quality standards. While the adoption of IFRS by the European Union (EU) came as a shot in the arm for ... Read more...
|
|
By Jamie Ensor, Posted:
20th June 2013 08:30
Where utilised effectively, out-of-court restructurings can offer both a struggling debtor (being a company debtor for the purpose of this article) and its creditor(s) workable solutions that do not have to mean the ultimate involvement of a company in an insolvency process or measure which more often than not will result in the least favourable returns for creditors.
&n ... Read more...
|
|
By Dezan Shira & Associates, Posted:
7th June 2013 08:35
China’s Supreme People’s Court (SPC) and the Supreme People’s Procuratorate jointly released the “Interpretation on Certain Issues Concerning the Application of Law in Food-Related Criminal Cases (fashi [2013] No.12, hereinafter referred to as the ‘Interpretation’)” on May 2, which came into effect ... Read more...
|
|
By Lisa S. Corne and David P. Preger of Dickinson Wright LLP, Posted:
18th April 2013 10:29
Introduction
Debtor-in-possession (“DIP”) financing is an important tool used by insolvent companies undergoing reorganization proceedings under Canada’s Companies’ Creditors Arrangement Act (“CCAA”), or Bankruptcy and Insolvency Act (“BIA”). DIP loans permit insolvent debtors to ob ... Read more...
|
|
By James Bowden, Posted:
8th April 2013 09:22
The legal framework governing insolvency in the UAE is primarily set out in UAE Federal Law No. 18 of 1993 promulgating the Code of Commercial Practice (the “Commercial Code”), and it has remained essentially unchanged since then. The insolvency regime set out in the Commercial Code is still largely untested in practice, because debtors an ... Read more...
|
|
By Paul P Subramaniam, Posted:
4th April 2013 09:57
Introduction
The Malaysian financial sector is poise to experience major changes in the way financial institutions operate when the Islamic Financial Services Act 2013 (“IFSA”) and the Financial Services Act 2013 (“FSA&rdqu ... Read more...
|
|
By Mathew Newman, Posted:
2nd April 2013 09:05
Since 2008, Guernsey has had an up to date and flexible statutory restructuring regime which is capable of dealing with all different types of modern day reorganisation and turnaround strategies. Both regimes are court-led and in our experience the Royal Court of Guernsey is more than capable of understanding the often complex arrangements that are proposed to be put in place and giving ... Read more...
|
|
By Jules Cohen, Posted:
27th March 2013 09:59
When banks and other lenders make a loan, they often obtain collateral from the borrower to secure repayment of the loan. The collateral may be a mortgage or deed of trust on real estate or a security interest in business assets such as accounts receivable, inventory and equipment. This makes the lender a secured creditor. If the borrower does not repay the loan, the secured creditor may sell the ... Read more...
|
|
By Íñigo Rubio & Ignacio Buil Aldana, Posted:
25th March 2013 09:03
General overview of Spanish case law with respect to Event of Default/Early Termination clauses
In the current economic context, many Spanish borrowers and lenders are closely looking at the events of default set forth in their financing agreements to carefully assess whether they are in the verge of entering into any of those event ... Read more...
|
|
By Olexiy Soshenko & Andrii Grebonkin, Posted:
18th March 2013 09:17
On 19 January 2013amendments to the insolvency laws in Ukraine became effective. While the general framework for insolvency proceedings remained the same, a number of significant amendments were made. Below we set out a summary of the most important changes. We note that the President of Ukraine requested that the government revise certain sections of the amended law ... Read more...
|
|
By Norman L. Pernick, David R. Hurst &Therese Scheuer, Posted:
12th March 2013 09:00
In a chapter 11 case, a senior claimholder may seek to share recovered property with junior stakeholders, to promote a speedy and cooperative reorganization. This “gifting” may be allowed under certain circumstances. Official Unsecured Creditors Comm. v. Stern (In re SPM Mfg. Corp.), 984 F.2d 1305 (1st Cir. 1993) (holding that, in chapte ... Read more...
|
|
By Peter C. Blain, Posted:
7th March 2013 09:30
Venue of Chapter 11 cases is governed by section 1408 of title 28, which provides in part that a case under the Bankruptcy Code (11 U.S.C. § 101 et seq) may be commenced in the district in which the person's "domicile, residence, principal place of business… or principal asset" are located, or "in which there is a pending ... Read more...
|
|
By Tim B. Schreuders, Posted:
9th January 2013 10:52
If an enterprise grows both functionally and geographically, there is often a need for operational, tax, legal and practical reasons to set up a group structure consisting of different legal entities. If the expansion of the business activities includes conducting the business abroad, foreign companies will become part of the group. As much as there is a need to create a group ... Read more...
|
|
By Charles Russam, Posted:
27th November 2012 09:48
The UK may be coming out of recession, but many businesses still remain cautious when taking on new projects or looking at expansion. As a result, many are reluctant to hire full time permanent staff at a senior level and more companies are turning to Interim Managers to bring in new skills and expertise, on a temporary basis. Charles Russam, Chairman of Russam GMS, a ... Read more...
|
|
By Neil Lupton , Posted:
8th November 2012 10:21
When examining the key issues and trends dominating cross-border insolvency work, the Cayman Islands is as good as any place to start. Virtually every case we come across in the Cayman Islands has at least one cross border element (if not several) which means that the international aspect is interwoven into our everyday work, in dealing with courts, office holders and legal counsel in va ... Read more...
|
|
By David Stark, Posted:
14th September 2012 09:43
Expectations are high that the Middle East will soon enter a second phase of significant restructurings across both corporate and government related entities. The main driver behind this expectation of a ‘second round’ of restructurings is the significant levels of short to medium term loan maturities in the region (US$100 billion by the end of 2015) coupled with a de ... Read more...
|
|
By Haider Ali, Posted:
18th July 2012 10:49
Despite the vast success many Arab economies had prior to the economic recession that began in 2008, the concept of solvency is relatively new to the region as the law becomes rewritten into constitutions such as states from the United Arab Emirates to Oman. It is definitely going to have ramifications, both good and bad for the United Arab Emirates, as we bear witness to a n ... Read more...
|
|
By Íñigo Rubio, Ignacio Buil Aldana & Alicia Galindo, Posted:
29th May 2012 09:45
The latest amendment to the Spanish Insolvency Act (Ley 22/2003, de 9 de julio, Concursal) passed by the Spanish parliament on October 10, 2011 (Ley 38/2011, de 10 de octubre, de reforma de la Ley 22/2003, de 9 de julio, Concursal), provides new options in insolvency proceedings for debtors, creditors and professional investors.
... Read more...
|
|
By Allen Smith, Posted:
20th April 2012 09:34
The condition of the economy has deteriorated over the last few years to such a point that financial pressure forced people to depend largely on credit as means of meeting expenses. The result of heavy borrowing coupled with hardening credit conditions has led to the creation of an exceedingly large public debt load. The components of this huge debt pool includes a ... Read more...
|
|
By Pall Eiriksson & Steinunn Holm Gudbjartsdottir, Posted:
3rd April 2012 11:52
Icelandic law has two distinct insolvency procedures
The first, composition, is primarily aimed at achieving a rescue of the business. Whilst Icelandic insolvency law is closely modelled on the Danish system, readers who are familiar with company voluntary arrangements or schemes of arrangement in the UK will also recog ... Read more...
|
|
By Ardjana Shehi, Posted:
2nd April 2012 11:15
Albanian Bankruptcy Law (No.8901 of 23 May 2002), as amended by Law No.9919 of 19 May 2008 and Law No.10137 of 11 May 2009, which is an evident adaptation of German legislation, aims to establish non-discriminatory and mandatory rules for the repayment of obligations by debtors in a bankruptcy procedure and to ensure an adequate, reliable and effective mechanism for the reorganization or ... Read more...
|
|
By Dezan Shira & Associates, Posted:
27th March 2012 10:55
China will resort to “market-oriented” measures to tackle its local debt issues, Chinese Premier Wen Jiabao said at a press conference last Wednesday after the closing of the Fifth Session of the Eleventh National People’s Congress. Wen’s remarks have signaled that China may allow more private investors ... Read more...
|
|
By Rafael X. Zahralddin-Aravena & Shelley A. Kinsella, Posted:
26th March 2012 10:49
Delaware continues to be a venue of choice for parties seeking a consistent and sophisticated jurisdiction to file an insolvency proceeding, whether the case is a large bankruptcy or a midmarket bankruptcy. Companies can file in the Delaware courts because they can file bankruptcy in any jurisdiction that one of its affiliates is incorporated or where it has a principal place of ... Read more...
|
|
By Thomas S. Heather, Posted:
23rd March 2012 11:35
The restructuring and insolvency activity in Mexico during the past few years has been primarily driven by the aftermath of the credit crisis originated in the United States in late 2008. The Mexican economy was rapidly and severely affected as a result, among other factors, of an important decline in exports, as over 75% of Mexican ... Read more...
|
|
By Inigo Rubio & Ignacio Buil Aldana, Posted:
19th March 2012 09:52
Subordination agreements are very common in financing transactions. They are generally used by different classes of lenders to establish the priority of repayment rights against the borrowers and their assets, enabling certain lenders to give priority to their debts over the borrowers’ debts with other creditors and to reduce their loss if a borrower defaults. ... Read more...
|
|
By Peter C. Blain, Posted:
15th March 2012 10:54
On June 28, 2011, the Seventh Circuit Court of Appeals decided In re River Road Hotel Partners, LLC v. Amalgamated Bank, 651 F. 3d 642 (7th Cir. 2011). The Court addressed Section 1129 (b)(2)(A) of the United States Bankruptcy Code in connection with a Plan of Reorganization to sell substantially all of the Debtor's assets.& ... Read more...
|
|
By Mark Ellenberg, Doug Mintz & Kathryn Borgeson, Posted:
14th March 2012 10:29
The battle over the enforceability of priority flip clauses in CDO indentures has entered a new phase. On February 8, 2012, a group of investors led by Belmont Park Investments Pty Ltd. filed an adversary proceeding against Lehman Brothers Special Financing Inc. and BNY Mellon Corporate Trustee Services Ltd. in the U.S. Bankruptcy Court for the Southern District of New York.& ... Read more...
|
|
By Olexiy Soshenko & Andrii Grebonkin, Posted:
13th March 2012 10:23
In January 2012 amendments were made to the insolvency laws in Ukraine. While the general framework for insolvency proceedings will remain the same, a number of significant amendments have been made. Below we set out a summary of the most important changes which the restated insolvency law introduces to the insolvency process. The amendments introduced will become effe ... Read more...
|
|
By Frances Coulson, Posted:
9th March 2012 10:26
The struggling economy and the subsequent impact on businesses in the UK has meant that the work of insolvency practitioners has remained in the spotlight. In 2012, this is it set to continue, with high profile cases such as La Senza, Blacks and Peacocks already having caught the attention of the press.
As the insolvency trade body, representing 97% of insolv ... Read more...
|
|
By Hon. Melanie L. Cyganowski (Ret.), Daniel F. Fiorillo & Lloyd M. Green, Posted:
8th March 2012 11:28
The role of the outside legal expert has evolved well beyond serving as an adjunct to court sponsored alternative dispute resolution or jury selection. Currently, expert counsel serves as an extra pair of eyes and as a valued resource in the prosecution or defense of litigation. Although not typically part of a trial team, an outside legal expert may provide added heft ... Read more...
|
|
By John K. Lyons and Frances Kao, Posted:
2nd March 2012 11:51
Reverse Mergers Boom and Bust
The past two years have seen the boom and bust of so-called “Chinese reverse merger” transactions. In a typical reverse merger transaction, a company operating in the People's Republic of China merges into a defunct (or nearly defunct) compan ... Read more...
|
|
By Dezan Shira & Associates, Posted:
19th December 2011 10:59
As the Global Financial Crisis rumbles on, with certain reduced growth rates on the horizon for Europe and the United States, multinationals are looking elsewhere to achieve their business goals. Asia, a region riddled with wars and ineffective economic policies for much of the past century, has finally stepped into the front line of global trade and com ... Read more...
|
|
By William F. O’Grady, Posted:
28th June 2011 11:58
Personal Insolvency - the current position:
Personal Insolvency in this jurisdiction is currently governed by the 1988 Bankruptcy Act. On the 24th of June, 2011 the Government introduced the Civil Law (Miscellaneous Provisions) Bill 2011 which includes amongst its provision ... Read more...
|
|
By Edmund Rahming, Posted:
6th June 2011 22:52
Introduction
The Caribbean is a region comprising over 7,000 islands and cays and consisting of a land area of almost 93,000 square miles. The region is made up of 30 jurisdictions including sovereign states, overseas territories and dependencies. Many of the jurisdictions are former or ... Read more...
|
