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Assigning liquidator rights to sue: what has been created?

by DLA Piper on

Following a suite of recent reforms to Australian insolvency laws, liquidators are now able to assign rights to sue, conferred on them personally by the Corporations Act. The new power to assign is broad. It appears that the...more

Recognition of foreign insolvency processes in Colombia

by Dentons on

On the 10th of June, during the second part of a hearing with a massive attendance the Superintendence of Corporations (the "Superintendence"), such authority recognized in Colombia the process of insolvency that Pacific...more

High Court Confirms Process For Distributing Client Money Held By Firm In Special Administration

by Allen & Overy LLP on

In this case report, we consider the High Court judgment in Re Worldspreads Ltd v Re Investment Bank Special Administration Regulations 2011 [2015] EWHC 1719 (Ch) (19 June 2015). Originally published in Practical Law on...more

Blog: Shareholder Proposal Regarding Audit Committee Composition

by Cooley LLP on

As noted in this article from Compliance Week, the Corp Fin staff have refused to issue no-action relief to Citigroup agreeing that it could exclude from its proxy statement a proposal from the prolific John Chevedden...more

May the Trustee’s Personal Debt to the Trust Owed as a Result of a Breach of Trust be Discharged in Bankruptcy?

by Charles E. Rounds, Jr. on

The U.S. Bankruptcy Code provides that a personal debt is not dischargeable if the debt had been occasioned by the debtor’s defalcation while acting in a fiduciary capacity. Courts of appeals had long disagreed about the...more

HM Treasury Consults on Sanctions for Directors of Failed Banks

On July 3, HM Treasury published a consultation paper on sanctions for the directors of failed banks. ...more

“Abandon hope all ye who enter here?” – First Practical Experiences with the New German Bond Restructuring Act

by K&L Gates LLP on

In response to a need for a modern bond restructuring law permitting extensive financial restructurings outside formal insolvency law proceedings, the German legislator introduced a new German Bond Restructuring Act...more

Client Alert: New Judicial Interpretations of the PRC Company Law and Its Focus

by Morrison & Foerster LLP on

The Supreme People’s Court of the People’s Republic of China (the “Supreme People’s Court”) issued Provisions of the Supreme People's Court Regarding Certain Issues Concerning the Application of the Company Law of the...more

The new German laws governing the restructuring of companies – it’s time for change!

by White & Case LLP on

On the bill of the Federal German Government for an Act Serving the Further Facilitation of the Reorganization of Enterprises (ESUG) Now that the Federal Government’s bill for the Gesetz zur weiteren Erleichterung der...more

China’s NDRC Adopts New Measures to Further Regulate Equity Investment Enterprises in Pilot Regions

by Morgan Lewis on

On January 31, 2011, China’s National Development and Reform Commission (NDRC) issued a “Notice on Further Regulating the Development and Record-Filing Administration of Equity Investment Enterprises in Pilot Regions” (the...more

Living With 'Living Wills'

by Reed Smith on

The Dodd-Frank Act (the "Act") contains several provisions creating significant compliance challenges for covered financial institutions. Some of the measures will impose novel responsibilities. Some may change the way firms...more

FDIC Board Approves Proposed Rule on "Living Wills" and Credit Exposure Reports for Large Organizations; Announces Remedies for...

The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved on March 29 a joint Notice of Proposed Rulemaking (NPR) for covered systemic organizations to file and report resolution plans and credit...more

Turnaround or Fall Over? Corporate Debt Restructuring through a Company Voluntary Agreement

by Richard Milner on

In the current economic climate most businesses will experience temporary or longer term cash flow pressure resulting in stressful trading and creditor pressure. Managing creditors within reasonable cash flow parameters...more

Dodd-Frank Act Creates Significant Changes in Bankruptcy Law Affecting Derivatives and Other Trading Counterparties

After months of negotiations and conferences among key legislators, President Obama signed into law a final version of regulatory reform legislation on July 21, 2010. More than 2,000 pages long, the “Dodd-Frank Wall Street...more

Treasury Issues Final Consultation on Investment Firms Insolvency Arrangements

On September 16, HM Treasury published its third consultation on new insolvency arrangements for investment firms. The consultation sets out the government’s final proposals for a special administration regime (SAR) for...more

Massachusetts Governor Signs Legislation to Increase Penalties against Noncompliant Public Charities, Fundraisers, and their...

by Mintz Levin on

On July 19, 2010, Massachusetts Governor Deval Patrick signed legislation that increases the penalties against public charities and responsible directors, trustees, officers, and other agents of charities that fail to file an...more

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