October 2018
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Sponsored by Maples GroupThe Irish Court of Appeal recently handed down an important decision which will impact default interest provisions in Irish law loan agreements. In Sheehan v Breccia/Flynn and Benray v Breccia, the court considered whether a provision for default interest in a bank's standard terms and conditions should be struck down as a penalty. This is a highly technical question, but one which is important for banks and borrowers, and for other market operators. -
Sponsored by Prager DreifussThe recognition of foreign insolvency decrees in Switzerland is sometimes problematic
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Sponsored by Elias Neocleous & CoOn July 8 2018 the Cyprus Parliament approved a package of legislative measures aimed at creating market security, stability and growth, and strengthening the legal framework to deal with non-performing loans. The amendments took effect on July 31, when the amending laws were published in the government Gazette. The principal changes are as follows:
