Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? Traditionally, the Dutch jurisdiction was predominantly creditor friendly. The Dutch Bankruptcy Act (“DBA”) primarily aimed to satisfy creditors, rather than providing debtors with a reorganisation mechanism. However, the introduction of the Act on confirmation of private restructuring plans (Wet…
Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? Law No. 37 of 2004 on Bankruptcy and Delay of Payments (“Law 37/2004”) emphasises creditors’ rights over debtors and demonstrates that Indonesia can be seen as a creditor-friendly jurisdiction. While there are some limitations on the options that might…
Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? Austria is generally considered a creditor-friendly jurisdiction and strikes a relatively balanced position on the debtor-creditor spectrum. On the one hand, creditors benefit from a well-structured and predictable insolvency framework, strong enforcement rights, and a high degree of transparency.…
Overview 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? Canada is a relatively debtor-friendly jurisdiction. Canadian insolvency legislation provides creditors and other stakeholders with broad rights, remedies and protections within a framework that enables financially distressed debtors to remain in possession of their assets and restructure their affairs…
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An Irish couple is facing the loss of €26,000 after a wedding planner in the Canary Islands closed her business amid claims of insolvency. Sorcha McManigan and Alan Kent were due to marry in Tenerife in September, after planning their wedding for nearly two years. The Dublin couple had taken multiple trips to meet the…
Ambition Mica monitoring committee seeks CIRP restart over plan breach scanx.trade Read the original article here
29 May 2026 Source: The Insolvency Service – Company Insolvency Statistics February 2026, Table 1c Construction firms accounted for 16% of all insolvencies in England and Wales in March 2026, with 347 registered construction businesses becoming insolvent. This was 43 more than were recorded in February 2026 and 30 fewer than the 377 in March…
For the Sonnenbühl-based carrier in Baden-Württemberg, 1 June marks the start of a more structured restructuring phase. With the formal proceedings opening, the company enters an organised process aimed at stabilising the business. According to management, talks are currently under way with potential investors. In a statement, the company said there is interest both in…