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Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Process

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Process
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.

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Investegate |Prosafe SE Announcements | Prosafe SE: Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. – Update on Financial Process

Investegate |Prosafe SE Announcements | Prosafe SE: Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. – Update on Financial Process
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

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Recognition of Restructuring and Insolvency Proceedings | Skadden, Arps, Slate, Meagher & Flom LLP

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Although the Trade and Cooperation Agreement (TCA) arrived in time to prevent a wholesale “no deal Brexit,” issues of cross-border cooperation and recognition in relation to insolvency and restructuring proceedings were not included in the agreement. As a result, The Insolvency (Amendment) (EU Exit) Regulations 2019, which were designed to cater to a “no deal Brexit,” took effect at 11 p.m. on 31 December 2020 and repealed the vast majority of EU law relevant to this sphere.
Takeaways
There is no longer a single, uniform regime for the coordination of restructurings between the UK and EU member states. ....

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Recognition Of UK Insolvency Proceedings In Malta Post-Brexit - Insolvency/Bankruptcy/Re-structuring

Prior to 1
st January, 2021, the cross-border
recognition and enforcement of insolvency proceedings and
judgements between the European Union
(
EU ) and the United Kingdom
(
UK ) was largely consolidated within
the framework of the European Insolvency (Recast) Regulation (the

EIR ) which generally attributed
automatic recognition to such proceedings and/or judgements.
Following the end of the Brexit transitional period on the
31
st December 2020, the EIR no longer applies to
the UK. Consequently, insolvency proceedings opened in the UK after
31
st December 2020 will not benefit from automatic
recognition.
The EIR applies a set of common rules in determining the
jurisdiction to open insolvency proceedings. Article 19 of the EIR ....

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Cross Border Insolvency – An Overview Of The Current EU Legal Framework And The Impact Of A

The impact of a no deal Brexit on UK/EU cross
border insolvencies
Throughout the transition period the Recast Regulation has
continued to operate as between the UK and the remaining member
states.
The Withdrawal Agreement provides specifically in relation to
the Recast Regulation that:
In the United Kingdom, as well as in the Member
States in situations involving the United Kingdom, the following
provisions shall apply as follows:
. (c) Regulation (EU) 2015/848 of the European Parliament
and of the Council shall apply to insolvency proceedings, and
actions referred to in Article 6(1) of that Regulation, provided
that the main proceedings were opened before the end of the ....

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