Malta – foremost safe harbour in today’s stormy seas of maritime finance

International finance of ocean-going vessels and other maritime assets such as off-shore oil and gas equipment is currently experiencing what could be described as a perfect storm: Many owners looking to refinance newer assets in their fleet ordered their construction and locked into efficient funding before the global financial crisis of 2007/8. And according to… Read More

The Hungarian Personal Bankruptcy Act

The Hungarian Parliament recently enacted Act CV of 2015 on Personal Bankruptcy (the “Act”). The Act will become effective on September 1, 2015[1] and fill the gap of the country’s bankruptcy law, Act XLIX of 1991[2], as amended, on Bankruptcy Proceedings and Liquidation Proceedings also known as the Bankruptcy Act that did not allow private… Read More

Gibraltar Insolvency Act 2011 – Corporate Insolvency Reform

Introduction A complete legislative reform of Insolvency law in Gibraltar has been brought about by regime in the form of the Insolvency Act 2011 (IA) and comprehensive subsidiary and associated legislation took effect on 1 November 2014. The new legislation makes provision for liquidation, as well as for various rescue and recovery regimes for the… Read More

Big Data Bankruptcy Sale Derailed – RadioShack’s Customer Information Draws Objections

On March 20, 2015, the State of Texas filed an objection to the sale of customer information in the In re RadioShack Corporation, et al., Case No. 15-10197, case pending in Delaware. According to the objection, the customer information up for sale includes consumer names, phone numbers, mailing addresses, e-mail addresses and activity data. Texas’s… Read More

Ordinary Course Of Business Preference Defense Clarified In A Recent SDNY Bankruptcy Court Decision

Almost every significant bankruptcy case eventually involves preference demands and litigation. Around this abundance of litigation developed a significant body of jurisprudence, to which Judge Sean Lane of the Southern District of New York Bankruptcy Court recently added in clarifying the ordinary course of business preference defense. In Davis v. Clarklift-West, Inc,1 the Plaintiff —… Read More

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