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Iceland: Easing of Capital Controls and Banking Regulations

(July 16, 2015) On July 3, 2015, the Icelandic Parliament (Althingi) passed legislation (The Act on a Stability Levy) to ease capital controls and bank regulation in the country, provided certain conditions are met. The regulations were set in place following the 2008 banking crash in the country. (Press Release, Legislation on Stability Levy Adopted […]

Brazil: Program Will Reduce Red-Tape in Opening or Closing a Company

(Mar. 2, 2015) On February 26, 2015, the federal government launched a program (Programa Bem Mais Simples Brasil) to reduce the government paperwork involved when opening or closing small- or medium-sized companies in Brazil. Under the new program the average time to go through the process of opening a business is expected to be reduced […]

Netherlands: Proposal to Expedite Handling of Bankruptcy Class Actions

(July 25, 2011) According to a press release issued on July 11, 2011, the Dutch Ministry of Security and Justice has drafted a legislative proposal that would enable receivers to settle bankruptcies involving large numbers of debtors more quickly, by means of a procedure in the Act on the Collective Settlement of Mass Damage (Wet […]

Colombia: Individual Insolvency Law

(Sept. 1, 2010) Colombia's Law 1380 of January 25, 2010, establishes the insolvency regimen for natural persons (with the exception of merchants). This new insolvency regime allows debtors who are Colombian residents to negotiate any type of debt with their creditors in a non-judicial, conciliation procedure. Alimony obligations are the only exception to this benefit. […]