Unternehmenssanierungen und Insolvenzverfahren

Aktuelle eAlerts

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  01/10/2024

  Deutschland

  NPLs in German commercial real estate countered by regulation and changing economic conditions

  The financing of commercial real estate in Germany is currently under strain. The increase in non-performing loans (NPLs) in the commercial real estate sector is enormous and is putting both borrowers and financiers at risk. Regulation and supervision by national and European authorities, however, are playing a decisive role in overcoming the NPL problem along with changing economic conditions. In this article, the third in a series, we explore the rise of NPLs in German commercial real estate, the impact of this on the markets, and the response by regulators at the national and EU level.BackgroundNPLs...

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  25/09/2024

  Deutschland

  Germany’s new secondary credit market act designed to increase acquisition of NPLs

  The business landscape in Germany is facing a major challenge: insolvencies and defaults on loans are on the rise. But where there are risks, there are also opportunities. The increase in non-performing loans (NPLs) is opening and creating an exciting playing field for investors. With the new German Secondary Credit Market Act (KrZwMG), the legislature wants to create an efficient market to reduce the high number of NPLs. In this article, the second in a series on NPLs in Germany, we look at current trends, risks and opportunities relating to NPL transactions.Non-performing loans and corporate...

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  18/09/2024

  Deutschland

  German implementation of NPL Directive creates secondary market for non-performing loans

  The German regulator has implemented the Directive (EU) 2021/2167 on Credit Servicers and Credit Purchasers (NPL Directive) via the Secondary Credit Market Act (Kreditzweitmarktgesetz – KrZwMG) for non-performing loans. The KrZwMG, which was enacted shorty before the deadline for transposition of the NPL Directive into national law on 30 December 2023, regulates dealings with non-performing loans (NPLs) in Germany from a supervisory perspective.Secondary market for non-performing loansThe objective of the NPL Directive and KrZwMG is the creation of a functioning secondary market for non-performing...

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  29/07/2024

  Hong Kong

  Avoidance rights in Hong Kong

  Hong Kong is a common law jurisdiction, and its legal system is based on English law. Following Hong Kong’s handover to China on 1 July 1997, the Basic Law of Hong Kong is the constitutional document of the Hong Kong Special Administrative Region. Article 8 of the Basic Law provides that: “laws previously in force in Hong Kong, that is, the common law, rules of equity, ordinances, subordinate legislation and customary law shall be maintained, except for any that contravene [the Basic Law], and subject to any amendment by the legislature of the Hong Kong Special Administrative Region.”General...

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  12/07/2024

  Singapur

  Vulnerable transactions under Singapore law

  The rules governing corporate and personal insolvency in Singapore are set out in the Insolvency, Restructuring and Dissolution Act 2018 (IRDA), which includes mechanisms to reverse transactions that unfairly deplete a company's assets prior to insolvency, thereby protecting creditors' interests by allowing the value of the company’s assets to be maximised for distribution to its creditors on insolvency.The following article summarises the circumstances in which these vulnerable transactions can be unwound for corporate entities subject to Singapore’s insolvency laws.Transactions at...

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  20/06/2024

  United Kingdom

  SFO’s Strategy for 2024-2029 – New Emphasis for the SFO

  The UK’s Serious Fraud Office (SFO) has unveiled its strategy for 2024-2029.  The Strategy reads rather more clearly and concisely than many corporate vision-statements of this sort, perhaps reflecting the pragmatic approach of the new Director, Nick Ephgrave QPM. There is considerable , and laudable, emphasis on values, technology and attracting “the brightest and best”.   Here are some of the more interesting highlights:ECCTA and Increased Investigatory PowersPrevious SFO Directors have strongly advocated for law reform, in particular extending the ambit of corporate...

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