The 11th annual Dublin International Arbitration Day took place on 17 November 2023 at the Distillery Building, Dublin 7. A conference famed for its action-packed schedule, range of panels on hot topics, and eminent supporters, the event was exceptionally well attended by international and domestic attendees with one of the biggest turn-outs yet. Keynotes from…
For the last couple of years Working Group V at UNCITRAL has been working on a project dedicated to the applicable law in insolvency proceedings. The law governing the effects of insolvency in arbitration has become one of the most contentious topics in the negotiations. The draft provisions subject to discussion in the 63rd session,…
Allen & Overy’s webinar on the second day of Hong Kong Arbitration Week 2022 brought together six practitioners from the fields of arbitration, insolvency and enforcement to discuss the key practical and strategic considerations when acting for and against parties in financial distress. Guided through a hypothetical case study involving jurisdictions such as Hong Kong,…
The General Assembly of the Civil Chambers of Turkish Court of Cassation (“Court”) rendered a controversial decision on 21 December 2021 with No. K.2021/1710 (“Decision”). The Decision provides that, notwithstanding a valid arbitration agreement, Turkish courts, not arbitrators, shall have jurisdiction to determine whether an alleged debtor, against whom a bankruptcy proceeding has been initiated,…
The economic havoc wreaked by the Covid-19 pandemic has resulted in a 10-year high of corporate bankruptcies in the United States in 2020. While bankruptcy levels across Europe have fallen amid the pandemic, a sharp spike in corporate bankruptcies is expected as economic support programs phase out in the coming months. This will increase the…
On 24 December 2020, the New Brazilian Insolvency Act (“NBIA” – a slight misnomer, as the Act is in fact an amendment to an existing statute) was published in the official Brazilian gazette. The act implements important modifications in the field, including a few related to arbitration, which came into force on 23 January 2021….
One of the many consequences of the Covid-19 pandemic and the world-wide economic crisis has been the sharp increase of insolvency filings before national courts. Latin America is no stranger to this situation, having been part of the surge in business insolvencies. Brazil, in particular, has been a recent insolvency hotspot within Latin America. This…
The Russian Supreme Court recently rendered a decision declaring disputes on challenging agreements with banks in a special financial situation, called by lawyers – “troubled” banks, as non-arbitrable [Bank Trust v. Fosint Ltd., decision dated 16 August 2016 number 305-ЭС16-4051] (“Trust case”). In this case, a “troubled” bank, meaning a bank in which a temporary…
Introduction Dan Cake, a Portuguese company and one of the biggest biscuit producers in the world, invested in Hungary by acquiring a Hungarian company’s shares, later named as Danesita. Although Dan Cake had envisaged the expansion of its business to South East Europe too through this investment, after a couple of years, the plan failed…
