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2014 Insolvency and Corporate Reorganisation Survey: Germany

A haircut without the explicit consent of a creditor is only possible during insolvency proceedings.

May 18, 2014

Insolvency and Corporate Reorganisation Survey 2014

Welcome to IFLR's Insolvency & Corporate Reorganisation Survey, completed in partnership with Latham & Watkins

May 18, 2014

2014 Insolvency and Corporate Reorganisation Survey: France

A company may seek relief from its creditors whether it is solvent or insolvent. The solvency test in France is a cash-flow test. A company is insolvent (cessation de paiements) if it cannot make payment of a debt which is due and payable with its available cash and liquid reserves within the grace period granted by the relevant creditor.

May 18, 2014

National regulators’ extensive role under SSM

The European Central Bank and member state regulators have clarified the composition and role of the joint supervisory teams that will supervise the biggest eurozone banks under the incoming single supervisory mechanism

Danielle Myles, May 18, 2014

Looking beyond borders

Karen Kemp of the Hong Kong Monetary Authority discusses Hong Kong’s January consultation on establishing a resolution regime for financial institutions in the special administrative region

May 18, 2014

Resolving banks rapidly

Grant Spencer, deputy governor of the Reserve Bank of New Zealand, explains why the Open Bank Resolution might be a model for other jurisdictions considering resolution plans

May 18, 2014

2014 Insolvency and Corporate Reorganisation Survey: Czech Republic

Companies may seek relief from creditors in cases of insolvency due to illiquidity or over-indebtedness, and in cases of apparent threatening insolvency. Debtors may also petition the court to order a protection moratorium, during which insolvency cannot be declared. Stay effects of the impending insolvency are retained in such cases.

May 18, 2014

2014 Insolvency and Corporate Reorganisation Survey: Indonesia

The company may seek relief from creditors only in cases of suspension of debt payment obligation (PKPU), not in cases of bankruptcy.

May 18, 2014

2014 Insolvency and Corporate Reorganisation Survey: Russia

There is no statutory regime for restructuring a company's debts outside formal insolvency proceedings, and no Chapter 11-equivalent protection. The directors of a company may only (and must) file for insolvency if the company meets the statutory test, but face administrative or potentially criminal liability for a fraudulent filing.

May 18, 2014

An all-American process

David Kurtz, global head of Lazard’s restructuring practice, reflects on US market trends and why the US remains the choice destination for forum shoppers

May 18, 2014

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