Regional news: European Union
European Commission proposes criteria for minimum safety requirements from bank
The European Commission has published a set of proposals aimed at guiding resolution authorities in drafting minimum requirements for banks’ regulatory capital and liabilities under the Bank Recovery and Resolution Directive (BBRD).
25 May 2016
European Court of Justice allows partial payment of VAT
The European Court of Justice has made a preliminary ruling that a bankrupt company using an Italian scheme of arrangement may be eligible for relief on a portion of its VAT, provided an independent expert can certify that the EU member state to which the outstanding tax is owed has no better option available to collect it.
18 May 2016
DLA Piper hires from Skadden Arps in Chicago, promotes three in the UK
Former Skadden Arps Slate Meagher & Flom restructuring partner John Lyons has joined DLA Piper in its Chicago office, as the firm promoted three new partners in the UK.
29 April 2016
Ratings agency says Basel mortgage suggestions could stir EU insolvency reform
New York ratings agency Fitch has published a response to new proposals made by the Basel Committee on Banking Supervision, claiming its suggestions on mortgage foreclosure may spur insolvency regime reform in the EU.
31 March 2016
EU publishes results of first inquiry on harmonisation initiative
The European Commission has published the results of a first inquiry into its initiative to harmonise member states’ insolvency laws.
14 March 2016