The EC Regulation1 on insolvency (Regulation) went into effect in May 2002 in all E.U. member states except for Denmark.
Committees
The Department of Trade and Industry recently published statistics showing insolvencies in England and Wales in the fourth quarter of 2002. There were 4,323 company insolvencies in that period, an increase of 11.1 percent from the previous quarter and an increase of 14.9 percent compared to the same period a year ago.
The Asset Sales Committee had a very lively session at the 15th Annual Winter Leadership Conference held on Dec. 4-6, 2003 in beautiful La Quinta, Calif. The first half of the session was devoted to a discussion of intellectual property issues in bankruptcy asset sales.
In recent years, nonprofit health care entities have experienced increased and highly publicized state attorney general scrutiny of, and sometimes interference with, the sales of facilities, use of assets and other health care transactions.1 Traditionally, state attorney general review of corporate health care transactions has been reserved for nonprofit-to-for-profi
Brazil Eletronet, a supplier of data transmission networks for telecommunications operators, has formally decided, in its last shareholders meeting, to file for bankruptcy protection. The decision was communicated to the CVM, the Brazilian Securities and Exchange Commission, on April 28, 2003.
Co-chairman, Ian Williams, was pleased to introduce fellow Briton Terry Bond and The Honourable Mr. Justice James M. Farley of the Ontario Court of Justice, Toronto Region to a well attended meeting at ABI's Annual Spring Meeting on Saturday, April 19.
Brazilian Banking Law Consumer Defense Code for Bank Customers The Brazilian Central Bank (BACEN) has recently issued Resolution nº 2.878/01, which is already being called the "Consumer Defense Code for Banking Clients" (CDCB).
According to the Instituto Federal de Especialistas de Concursos Mercantiles's (“IFECOM”) Fifth Bi-annual Report presented on Dec. 3, 2002, only 63 cases have been filed in Mexico under the Ley de Concursos Mercantiles. These 63 cases involve 90 debtors: four individuals and 86 entities, approximately 55,500 creditors and NP$31,500 million in claims.
In Re BRAC Rent-A-Car International Inc., Mr. Justice Lloyd, sitting in the High Court Chancery Division in London appears to have extended the scope of Article 3 of the Regulation.
The Department of Trade and Industry recently published statistics showing insolvencies in England and Wales in the fourth quarter of 2002. There were 4,323 company insolvencies in that period, an increase of 11.1 percent from the previous quarter and an increase of 14.9 percent compared to the same period a year ago.