Publication
Europe steps up its fight against fraud
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Global | Publication | November 16, 2017
In today’s global marketplace, many Latin American companies conduct a significant portion of their business abroad and, consequently, have a large number of foreign investors and jurisdictionally diverse creditor constituencies. Moreover, in some instances, local laws restrict the ability of Latin American companies to issue dollar-denominated debt. These factors have resulted in more and more Latin American-operated companies having a key subsidiary or affiliate — many times the organization’s financing arm — located and/or registered in a country outside of Latin America. This dynamic, coupled with an expanding universe of sophisticated, knowledgeable, well-funded and proactive investors, has led to an increase in the filing of “competing” insolvency proceedings involving Latin American companies. Recent mega-cases from Brazil, including OAS and Oi, highlight this trend. In those cases, the debtors commenced voluntarily insolvency proceedings in Brazil, but creditors commenced competing insolvency proceedings in other jurisdictions. Competing cases can lead to increased uncertainty, delay and cost, all of which could ultimately jeopardize a debtor’s prospects of successfully reorganizing and creditors’ prospects of repayment.
Publication
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Publication
The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
Publication
What appears to be a simple question is not as straightforward as one would think. One might take the view that it is just a matter of common sense whether something is a ship or not, yet it is difficult to define exhaustively what exactly a ship is, or the extent to which something forms part of a “ship”.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023