One of the most polemic, intricate, worst and largest cases of corporate distress in Brazilian history, the Varig Airlines case came to an end last week. The first case resolved under Brazil’s new bankruptcy law has left numerous lessons for its stakeholders as well as billions of dollars of destruction in its wake.
The Singapore Mediation Centre (SMC) is a nonprofit organisation established in 1997 to provide commercial mediation services. It is structured as a company limited by guarantee of the Singapore Academy of Law (SAL). The SMC was launched by the Honourable Chief Justice Yong Pung How on 16 August 1997.
Cross-border insolvencies are perhaps one of the numerous consequences of the increased globalization of and recent downturns in the economy.
Can a court ordered stay of proceedings under the Canadian restructuring statute, the Companies’ Creditors Arrangement Act (the “CCAA”) apply to a contract for the supply of natural gas? This depends in part on whether the contracts fall within the definition of “eligible financial contracts” under the CCAA, and, in part, on the terms of the contracts.
Two recent appellate decisions of the U.S. District Court for the Southern District of New York (the “district court”) have the potential for altering the jurisdictional landscape of bankruptcy courts in the United States. In In re Globo Comunicacoes e Participacoes S.A., 317 B.R. 235 (S.D.N.Y.
On June 2004, the Kingdom of Thailand enacted amendments to the Thai Bankruptcy Act2. The new amendments to the Act (the Amendments), which are codified in Bankruptcy Act (No. 7), B. E.
In the recent decision, In re Petition of Dr. Eberhard Braun, in his Capacity as Insolvency Administrator for Fairchild Dornier GmbH, Case No. 02-52351-LMC, the bankruptcy court denied a motion to reconsider a motion seeking relief from an 11 U.S.C. §304 injunction.
The proposed Brazilian Bankruptcy law as proposed by the House of Representatives was extensively amended by the Senate. The Senate revisions are currently being considered in the House of Representatives, which has appointed a commission to recommend changes to the Senate version.
The EC Regulation1 on insolvency (Regulation) went into effect in May 2002 in all E.U. member states except for Denmark.
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