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With COVID-19 causing ever increasing financial uncertainty around the globe, we thought it an apt time to provide you with a summary of the various corporate insolvency procedures in the UK applicable to companies facing financial difficulties. Taking each in turn, we will discuss administration, administrative receivership, company voluntary arrangements, schemes of arrangement and liquidation. We will also touch briefly on directors’ duties, rules relating to asset distribution on insolvency and transactions that may be set aside on insolvency or ‘reviewable’ transactions.
Continue Reading Insolvency & Insolvency Procedures in the UK – Revisit

新型基础设施建设，即新基建，是发力于信息数字化的基础设施建设，包括5G基站建设、大数据中心、人工智能、工业互联网等领域。今年以来，中央一系列会议对推动和加快“新基建”进行了密集部署。互联网数据中心即Internet Data Center（IDC），通常指一种拥有完善的设备（包括高速互联网接入带宽、高性能局域网络、安全可靠的机房环境等）、专业化的管理、完善的应用服务的平台。互联网数据中心为信息产业的基础设施之一，也是新基建的重要组成部分。2020年3月4日，中央政治局常务委员会会议明确提出，要加快5G网络、数据中心等新型基础设施进度。…
Continue Reading 新基建项目银行融资——以互联网数据中心为例

In response to the COVID-19 pandemic, on March 27, 2020, President Trump signed the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”) into law, in what was the largest single economic rescue and stimulus package in the history of the United States. A significant component of the CARES Act was the Paycheck Protection Program (the “PPP”), a $349 billion program to assist small businesses, non-profits, the self-employed and others,[1] negatively impacted by COVID-19, to obtain loans.
Continue Reading SBA releases Interim Final Rule for Payment Protection Program

《中国银行业监督管理委员会非银行金融机构行政许可事项实施办法》于2007年颁布，并于2015年被《中国银监会非银行金融机构行政许可事项实施办法》（2015版）修订和替代。2018年，由于原中国银监会与中国保监会机构合并等原因，办法被调整和重新公布。为进一步加强其他非银行金融机构（以下简称非银机构）监管，持续深化“放管服”改革，2020年1月，中国银保监会就2020年修订稿公开征求意见。2020年3月23日，《中国银保监会非银行金融机构行政许可事项实施办法》（2020版）（以下简称《办法》）正式公布并施行，办法2015年版及2018年的修订不再适用。…
Continue Reading 银保监会新规对设立\并购\运营非银金融机构的影响

On May 9, 2020 the China Banking and Insurance Regulatory Commission (the “CBIRC”) published the Interim Measures on the Administration of the Online Lending of Commercial Banks (Consultation Paper) (the “Consultation Paper”) on its website, soliciting comments from the public officially.  As the Interim Measures on the Administration of the Online Lending of Commercial Banks is an important regulation to be promulgated, which, among others, is indicated in the legislative plan of the CBIRC in 2020, the release of the Consultation Paper would accelerate the promulgation and implementation thereof.
Continue Reading Consultation Paper Issued to Regulate CB’s Online Lending Biz

近年间，互联网经济在中国的发展一日千里，已经成为中国经济发展的重要引擎和产业切换的主要方向之一。MCN等网红经济模式作为新兴的业态，在行业准入、风控和合规等方面与传统模式同异互现，呈现出自身的独特之处。本文将结合MCN运营过程及其与KOL之间的合作，解析MCN合规和风控矩阵，带您一览MCN常见的法律问题。…
Continue Reading 网红经济—MCN机构应如何布局法律矩阵

On 5 May 2020, the People’s Bank of China (“PBOC”) and the State Administration of Foreign Exchange (“SAFE”) issued the Regulations on Fund Administration for Domestic Securities and Futures Investments by Foreign Institutional Investors (“New Regulation”, as supplemented with the FAQs published by SAFE[1]), introducing the latest round of reforms to the QFII and RQFII schemes – China’s two major inbound investment systems. The New Regulation will take effect on 6 June 2020.
Continue Reading Latest relaxations in the QFII and RQFII regimes