Insolvency law & restructuring

Helping you to navigate what is often a complex landscape calls for creative and bold solutions from experienced practitioners. We understand the legal and business drivers involved when a company gets into financial difficulties and we have the technical skills and expertise to help achieve the best possible outcome. On this page you will find recent articles from CMS experts covering insolvency and restructuring situations. 

Find out how CMS can support your business here >>

Recent Articles

  •  
    17/01/2025
    Croatia

    Croatia transposes NPL Directive

    Croatia transposed Directive (EU) 2021/2167 on credit servicers and credit purchasers (i.e. NPL Directive) through the adoption of the Act on the Manner, Conditions and Procedure of Servicing and Sale of Receivables, which entered into force at the end of 2023.This process represented an important step forward in achieving the objectives of the NPL Directive and harmonising the rules on the purchase and servicing of non-performing loans (NPLs) in addition to addressing specific local goals.The system before the ActPrior to the adoption of the Act, the purchasing and servicing of NPLs were regulated...
    Read more
  •  
    20/12/2024
    Slovenia

    Slovenia enacts Act on Purchasers and Servicers of Non-Per­form­ing Loans

    On 24 February 2024, the Slovenian Act on Purchasers and Servicers of Non-Performing Loans of Banks (Zakon o kupcih in serviserjih nedonosnih kreditov bank) entered into force. The Act transposes Directive (EU) 2021/2167 of the European Parliament and Council dated 24 November 2021 on Credit Servicers and Credit Purchasers into Slovenian law. The Act creates a legal framework for the comprehensive resolution of non-performing bank loans (NPLs), sets up mechanisms for their sale and servicing, seeks to improve NPL management, and fosters the development of the secondary NPL market...
    Read more
  •  
    19/12/2024
    Scotland

    Moveable Transactions - save the date: 1st April 2025

    Just in time for Christmas, three gifts of statutory instruments to implement the Moveable Transactions (Scotland) Act 2023 (the “Act”) have been made and laid before the Scottish Parliament. We can now look forward with certainty to the long-awaited reform of the law on taking security over moveable property in Scotland.This briefing provides an update on these SSIs and proposals for early 2025.
    Read more
  •  
    06/12/2024
    Portugal

    Portugal’s failure to transpose the EU NPL Directive leaves an impact on the local market

    Although the deadline for transposing the NPL Directive was 29 December 2023, Portugal has not yet transposed this EU directive on non-performing loans into national law.Portuguese political parties have expressed their intent to approve the relevant legislation in the new parliament, but currently there are no drafts or working documents. In this context, one Portuguese party presented a draft resolution to Parliament (Projeto de Resolução n.º 46/XVI/1.ª), which recommends that the government transpose the NPL Directive as a matter of national urgency. In this interim...
    Read more
  •  
    27/11/2024
    United Kingdom

    The CJC Review of Pre-Action Protocols – Phase Two Report (Final) now published

    On 15 November 2021, the UK's Civil Justice Council (CJC) published an Interim Report initiating a consultation on pre-action protocols (PAPs).  The consultation closed in January 2022. CMS responded to the consultation with interest, given the potential impact on the legal industry and insurers/insureds alike.It is the responsibility of the CJC, through its designated Working Group (WG), to make recommendations to the Civil Procedure Rules Committee (CPRC). It is for the CPRC to accept or reject those recommendations and draft the revised PAPs.The CJC's response was published in two parts....
    Read more
  •  
    27/11/2024
    Germany

    When is the hearing closed? – The Bavarian Highest Regional Court rules on the preclusion of objections against the execution of an arbitral award under Sec. 767(2) ZPO

    In a decision of 24 July 2024, the Bavarian Highest Regional Court (BayObLG) rejected an objection against the execution of an arbitral award because the applicant could have raised the objection in previous proceedings on the declaration of the arbitral award’s enforceability. Referring to an obiter dictum of the German Federal Supreme Court (BGH), the BayOblG held that the relevant threshold derives from the provision governing objections against the execution of state court judgments.I. Facts of the CaseThe proceedings before the BayOblG concerned the execution of an arbitral award rendered...
    Read more