As of 11pm this evening (31 January 2020), the maps adorning the walls of the EU Council will be re-drawn to show the United Kingdom moving from the blue and yellow-starred colouring of a Member State to the rather less attractive beige of a third-party state. From the perspective of a restructuring and insolvency professional,
Bankruptcy and Insolvency
These are undoubtedly hard times in which to sell the dream of travel; if the dreaded B word were not enough to dissuade the core market from the sell that Spain trumps Scarborough (seriously has anyone seen the government’s TV ad for the post B landscape – you might want to check your travel documents
Since the financial crisis in Greece began there has been an evolution of legislative initiatives regarding pre-insolvency procedures addressing the need to lift barriers to efficient restructuring of Greek businesses. This May the Greek legislature introduced a new process of extra-judicial settlement of debts expected to become effective August 3, 2017. Ally Law member Your
In the United States, bankruptcy is governed by the federal court and rules, with certain property rights being determined by state law. The federal Advisory Committee on Bankruptcy Rules, engaged in a modernization project intended to simplify the language within bankruptcy forms, created new Official Bankruptcy Forms to this end and has now issued them.