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  • The company may seek relief from creditors only in cases of suspension of debt payment obligation (PKPU), not in cases of bankruptcy.
  • The Debtor Rehabilitation and Bankruptcy Act (DRBA) governs bankruptcy proceedings and reorganisation proceedings in Korea. In this response, bankruptcy proceeding refers to the liquidation proceeding prescribed under the DRBA, reorganisation proceeding refers to the reorganisation proceeding prescribed under the DRBA, and insolvency proceeding refers collectively to a bankruptcy proceeding and a reorganisation proceeding
  • John Houghton, Howard Lam and Mitchell Seider of Latham & Watkins introduce the Insolvency and Corporate Reorganisation Survey, highlighting several trends in restructuring markets around the world
  • The first three months of reporting under the European Markets and Infrastructure Regulation has revealed different national practices for put and call options in M&A deals
  • 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
  • Controversy surrounding the surge in covenant lite across the US and Europe has overshadowed some less cyclical trends that are shifting lending practices
  • Bankruptcy proceedings are governed by the Bankruptcy Act, while reorganisation proceedings are governed by the Pre-bankruptcy Settlement Agreement Act. In both cases, bankruptcy and reorganisation, a company must be insolvent to seek relief from creditors. In principle, Croatian legislation is familiar with three insolvency tests: (i) illiquidity; (ii) incapacity to pay; and (iii) over-indebtedness.
  • A haircut without the explicit consent of a creditor is only possible during insolvency proceedings.
  • Welcome to IFLR's Insolvency & Corporate Reorganisation Survey, completed in partnership with Latham & Watkins