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Weltmilchmarkt: Preise legen leicht zu - Schweizer Bauer
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The Class of 2025 campaigns for Elon University Student Government
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Ethical Standards form a very important pillar of our profession – CA Prafulla Chhajed
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2021 World Bank & INSOL International’s Legislative & Regulatory Group: COVID-19 response and the challenges ahead
Photo: Oze Creatives from Getty Images
COVID-19 continues to present a variety of unique challenges for insolvency regulators and lawmakers worldwide. In March 2020, closing borders and widespread uncertainty underscored a crisis, prompting authorities around the world to devise and rapidly roll out measures designed to shield businesses, financial institutions and individuals against the economic effects and prevent widespread economic collapse. In Europe, for example, there were forbearance and other legal measures introduced to temporarily suspend the exercise of creditors’ rights. The challenge in this next period of the crisis is to manage uncertainty, while phasing out government support and temporary legal measures in a manner that facilitates economic recovery. These measures are captured by the joint World Bank and INSOL International Global Guide: Measure
France blacklisted Seychelles recently for its handling of the offshore sector. But as the world was digesting the implications of the announcement more anomalies are surfacing out of Europe.
At the moment there is a unique situation in Seychelles when the government, on one hand, claims that Seychelles is part of International Global community and that it is a very good country for foreign investment, but on the other hand, the government has deprived foreign investors of all legal protection.
However, Seychelles has taken steps to rectify this issue: On 27th November 2019, the Executive branch made a decision during a Cabinet Meeting for Seychelles to accede to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958.