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INSOL International have published their latest news roundup. Here are the details:
The website at www.globalinsolvency.com is a joint venture project provided by the ABI and INSOL International for the members of INSOL, the ABI and those with an interest in insolvency and turnaround. The site has contributions and links to all our member associations. It provides INSOL members with a comprehensive overview of global issues and the option to sign up for daily alerts, which are mailed direct to your inbox. In 2011 we saw the launch of the Chapter 15 database, the new section contains more than 60 recent Chapter 15 cases with the full text of judicial opinions and summaries of the main issues presented, organised by the U.S. judicial circuit.
Daily Global Alerts
There is the opportunity to sign up for daily global alerts which will be mailed direct to your inbox. Listed below are some of the daily alerts that registered members received today. If you would like to register to receive alerts please click here.
Friday 29th June 2012
Germany May Compromise on Joint Debt
Germany may be willing to move sooner than expected to accept shared liability of euro-zone debt and would support short-term measures to deal with the acute financing problems facing some of the region's governments, German Finance Minister Wolfgang Schäuble said. Full summary.
Euro Zone Mulls Covered Bonds For Italy, Spain
Euro zone experts discussed a Finnish proposal for Spain and Italy to issue covered bonds to make their debt more attractive and to allow the euro zone's permanent bailout fund to bid at primary auctions of the two countries, officials said on Thursday. Full summary.
In a Shift, Chinese Exporters Cling to Dollars
Many Chinese exporters are starting to hoard the dollars they earn, betting that the yuan is unlikely to appreciate much more, a shift in strategy that is having a ripple effect throughout the country's financial system. Full summary.
Yukos Shareholders Lose $340 Million Case In Russia
Russia's arbitration court ruled on Thursday that state-owned crude oil producer Rosneft was not obliged to repay almost $340 million of loans taken by a unit of Yukos which it acquired after Yukos was forced into bankruptcy by authorities. Full summary.
New Mortgage-To-Rent Scheme
A new scheme that will turn holders of hopelessly distressed mortgages into renters has been unveiled by Ireland's Minister of State for Housing Jan O'Sullivan. Full summary.
Judge Keeps Freeze Order On Quinn Children's Assets
A High Court judge has further continued orders restraining the children of bankrupt businessman Seán Quinn, a nephew, two sons in law and a number of international companies dealing with assets owned or controlled by them worldwide below €50 million each. Full summary."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...