Background Sberbank CZ was an indirect subsidiary of the Russian state-owned bank Sberbank. In 2020, it was the 10th largest Czech bank by assets and had a total of 95,000 individuals and 11,000 companies on its client list. Its rapid fall into insolvency and subsequent bankruptcy is described in more detail below.… Continue Reading
On 14 November 2024, the UK government announced several changes to its existing sanctions regulations via the Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024. As of 14 May 2025, by expanding the definition of “relevant firms” subject to financial sanctions reporting, Insolvency Practitioners (“IPs”) are now legally required to adhere to reporting obligations … Continue Reading
