Europe & The European Union

http://www.lexology.com/library/detail.aspx?g=9aeaed5e-e94f-4713-98bd-38be517f1a3b&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2013-05-24&utm_term= Incidents during enforcement under New Civil Procedure Code May 21 2013 The New Civil Procedure Code (NCPC) came into force on 15 February 2013 and is applicable to all enforcement proceedings that commenced after this date. Creditors may begin forced execution if they have an enforceable title. During such proceedings several incidents may occur,… Continue Reading

http://www.bloomberg.com/news/2013-05-23/imf-staff-suggests-tighter-debt-rules-to-improve-restructuring.html IMF Staff Suggests Tighter Debt Rules to Improve Restructuring By Sandrine Rastello – May 24, 2013 The International Monetary Fund may have been too optimistic in assessing the debt sustainability of some borrowing countries and could toughen loan conditions in an effort to make debt restructuring more successful, according to the fund’s staff. Sovereign… Continue Reading

http://online.wsj.com/article/BT-CO-20130523-705884.html Irish Central Bank Honohan: Insolvency Laws to Help Limit Home-Loan Debt May 23, 2013 By Eamon Quinn DUBLIN–Ireland’s new insolvency laws will help distressed home-loan borrowers, but also help Irish taxpayers regain some of the huge sums the country has pumped into its banks during the country’s deep financial crisis, Irish central bank head… Continue Reading

http://www.bloomberg.com/news/2013-05-23/slovenian-lawmakers-approve-insolvency-changes-to-aid-economy.html Slovenian Lawmakers Approve Insolvency Changes to Aid Economy By Boris Cerni – May 24, 2013 Slovenian lawmakers approved changes to the country’s insolvency legislation designed to accelerate corporate restructuring and aid the ailing banking industry. Lawmakers voted for changes the government said will lower the debt burden at companies and spur an economic recovery,… Continue Reading

http://www.irishtimes.com/business/sectors/transport-and-tourism/ireland-s-hotels-have-debts-of-6-7bn-1.1404604 Ireland’s hotels have debts of €6.7bn About 300 of 850 hotels are in financial difficulty but turnover is up at most hotels 24 MAY 2013 Ireland’s 850 hotels have aggregate debts of €6.7 billion and about 300 of them are in financial difficulty. These are the key points of a report on the health… Continue Reading

http://www.reuters.com/article/2013/05/23/spain-pescanova-idUSL6N0E435E20130523?feedType=RSS&feedName=bankruptcyNews Pescanova’s ex-chairman charged with falsifying information MADRID | Thu May 23, 2013 12:07pm EDT MADRID May 23 (Reuters) – A Spanish High Court judge has charged the former chairman of fishing firm Pescanova, Manuel Fernandez de Sousa, with falsifying information and insider trading, according to a court document published on Thursday. Pescanova, one of… Continue Reading

http://economictimes.indiatimes.com/news/international-business/aixtron-to-cut-more-than-20-per-cent-of-german-staff/articleshow/20222199.cms Aixtron to cut more than 20 per cent of German staff By Reuters | 23 May, 2013 FRANKFURT: German chip equipment maker Aixtron is cutting more than 20 per cent of its staff in Germany in response to weak demand for its products.The group, which last month reported a wider than expected operating loss… Continue Reading

http://www.reuters.com/article/2013/05/22/portugal-bond-idUSL6N0E247H20130522?feedType=RSS&feedName=bankruptcyNews Portugal plunders pension fund to tackle debt cliff By John Geddie Wed May 22, 2013 6:49am EDT LONDON, May 22 (IFR) – The Portuguese government plans to tap nearly all of its state-owned pension fund to ease it over the hump of a hefty EUR27.5bn of financing needs over the next two years, according… Continue Reading

http://www.reuters.com/article/2013/05/22/deutsche-bank-tier-idUSL6N0E31RV20130522?feedType=RSS&feedName=bankruptcyNews CORRECTED-Deutsche Bank deepens Tier 2 market, next stop Tier 1 Wed May 22, 2013 10:08am EDT (Corrects third paragraph to state bond is SEC-registered and not 144a, and in the same paragraph that it priced at T+237.5bp, not 262.5bp) * New 15 non-call 10 structure hailed a success * European banks tipped to sell… Continue Reading

http://www.reuters.com/article/2013/05/22/us-montepaschi-probe-idUSBRE94L0UI20130522?feedType=RSS&feedName=businessNews Monte Paschi director accused of insider trading MILAN | Wed May 22, 2013 2:04pm EDT MILAN (Reuters) – A board member at Italy’s troubled lender Monte dei Paschi di Siena (BMPS.MI) is being investigated over allegations of breaking insider trading rules and has been suspended, the bank said on Wednesday. The bank’s statement confirmed… Continue Reading