The Ministry of Economic Development of the Russian Federation has submitted a draft law to its parliament, which is considered a reform of its existing bankruptcy legislation, introducing, amongst others, efficient debt restructuring tools.  

Lebanon is in the eye of a perfect storm; including simultaneous political, financial, banking, and currency crises which could lead to a major economic and social disaster, as the eye progresses in its trajectory and the country risks becoming prey to the storm’s most destructive elements.

Oleg Bakhmatyuk told Debtwire he believes the revival of an investigation into the alleged embezzlement of a UAH 1.2bn (USD 49.6m) stabilisation loan received by VAB Bank – a bank he previously owned that was liquidated in 2015 – is “purely politically motivated”.

The Kingdom  of Bahrain enacted a new bankruptcy law in December 2018, sweeping away its previous legislation and replacing it with a thoroughly modern toolkit. The law is a revolutionary improvement compared to what existed before, said lawyers polled by Debtwire.

When the Tower of Lethendy, a baronial-style eight-bedroom castle near Perth, Scotland, went on the market in 2015 for more than GBP 2.5m, pop icon Taylor Swift was among those rumoured to be an interested buyer.

The Dubai International Financial Centre (DIFC) enacted its new Insolvency Law on 30 May, introducing internationally utilised insolvency and restructuring tools to offshore DIFC jurisdiction.