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Irish Implementation of the Securitisation Regulation – European Market Update

Ireland recently published the European Union (General Framework for Securitisation and Specific Framework for Simple, Transparent and Standardised Securitisation) Regulations 2018 to give further effect to Regulation (EU) 2017/2042. The Irish Regulations came into force on 1 January 2019 and apply to all in scope securitisation transactions.

21 Feb 2019

US Bankruptcy Court Upholds Industry View of CDOs / CLOs

The US Bankruptcy Court has handed down an important decision which reflects the industry view that the contractual deal terms of a CDO / CLO should not ordinarily be circumvented through chapter 11 proceedings.

19 Feb 2019

The CLOser – February 2019

19 Feb 2019

Luxembourg Update Publication of Draft No Deal Brexit Legislation

With the Brexit deadline fast approaching, certain EU member states are taking precautionary steps to ensure an orderly national transition in the event the UK leaves the EU without a withdrawal agreement and no transitional period ("Hard Brexit").  In this context, a draft law  (the "Draft Law") concerning measures to be taken in respect of the financial sector in the event of a Hard Brexit was introduced to the Luxembourg Parliament on 31January 2019.  The Draft Law, once passed, will apply from 29 March 2019.   

12 Feb 2019

Cross-border fund distribution proposals

The European Commission welcomes new rules to facilitate the cross-border distribution of investment funds. 

08 Feb 2019

BVI High Court Appoints "Light Touch" RPLs in a First for the Jurisdiction

The BVI High Court, Commercial Division has, in a first for the jurisdiction, appointed "light-touch" joint provisional liquidators to BVI incorporated companies for the purpose of pursuing a debt restructuring.  This is an important development in BVI law, giving the BVI similar restructuring tools as a number of other offshore jurisdictions, and makes the BVI a more attractive restructuring jurisdiction.

05 Feb 2019

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