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Proposed Legislation Insolvency

Morgan Lewis

The Proposed GENIUS Act Raises Concerns Over Insolvency Provisions

Morgan Lewis on

Much attention has been paid to the regulatory and customer protection provisions of the proposed Guiding and Establishing National Innovation of US Stablecoins Act, the so-called GENIUS Act, S. 1582 (the proposed Act)....more

Cadwalader, Wickersham & Taft LLP

Making Way For Stablecoin—Genius Act Would Amend Bankruptcy Code to Accommodate Certain Crypto Assets

Congress rarely amends the Bankruptcy Code.  Congress first adopted the Bankruptcy Code in 1978.  After a series of amendments in the early 1980s to address initial concerns, Congress amended the Code only modestly until the...more

Eversheds Sutherland (US) LLP

NY Governor’s budget includes proposal to expand Life Insurance Company Guaranty Corporation to health insurance

New York Senate Bill 4007 and Assembly Bill 3007, which represent Governor Kathy Hochul’s state budget proposal, include provisions to amend Article 77 of the New York Insurance Law, the Life Insurance Company Guaranty...more

Troutman Pepper Locke

New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook - The Consumer Finance Podcast

Troutman Pepper Locke on

Please join Consumer Financial Services Partner Chris Willis and his colleagues Deborah Kovsky and Tom Tilton as they discuss new pending legislation — the Consumer Bankruptcy Reform Act — as well as the general, overall...more

Littler

The Emergency Pension Plan Relief Act Proposes a Bailout of Struggling Multiemployer Pension Plans

Littler on

House Education and Labor Chairman Bobby Scott (D-VA) recently introduced legislation that seeks to rescue multiemployer pension plans (MEPs) facing insolvency. Entitled the Emergency Pension Plan Relief Act (EPPRA), the bill...more

Latham & Watkins LLP

Bundesregierung skizziert Weg zu umfassender Reform im Sanierungs- und Insolvenzrecht

Latham & Watkins LLP on

Regierungsentwurf setzt EU Restrukturierungs-Richtlinie um und führt neues Sanierungsinstrumentarium ein. Die Bundesregierung hat am 14. Oktober 2020 den Regierungsentwurf eines Gesetzes zur Fortentwicklung des Sanierungs-...more

Goodwin

UK Corporate Insolvency and Governance Bill Proposes Significant Changes to Law

Goodwin on

The Corporate Insolvency and Governance Bill (the Bill) had its first reading in the House of Commons on Wednesday 20 May 2020. It will next be considered on 3 June. It is expected to be enacted into law in late June or early...more

Hinshaw & Culbertson - Insights for Insurers

State Insurance Commissioners Weigh In On Business Interruption Coverage for COVID-19 Losses

Over the past several weeks, we've seen legislators introduce bills to retroactively rewrite existing insurance policies to provide coverage for COVID-19 claims, and a flood of insurance coverage complaints filed across the...more

A&O Shearman

COVID-19 Changes Announced to UK Insolvency Law and for AGMs

A&O Shearman on

On 28 March 2020, the Secretary of State for Business, Energy and Industrial Strategy (BEIS) announced key measures to protect companies and businesses facing major funding and operational difficulties in the current COVID-19...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Proposes Preferential Status for Certain Taxes in Insolvencies

The U.K. government is proposing to reintroduce preferential status to certain taxes in U.K. insolvencies beginning 6 April 2020. If enacted: - certain taxes owed to HM Revenue & Customs (HMRC) would rank ahead of floating...more

K&L Gates LLP

M&A Deal Points

K&L Gates LLP on

On 28 March 2017, the Federal Government released its long awaited draft legislation that is designed to encourage restructuring of distressed businesses. The proposed legislation is open for consultation with the...more

K&L Gates LLP

Australian Insolvency Reforms – Is the Harbour Safe Yet?

K&L Gates LLP on

On 28 March 2017, the Federal Government released its long awaited draft legislation for reforms to insolvency laws in Australia. The changes focus on providing a safe harbour for directors of distressed companies and a stay...more

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