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Author: Gerard McCormack Publisher: Edward Elgar Publishing ISBN: 1789908817 Category : Law Languages : en Pages : 319
Book Description
This comprehensive book provides a clear analysis of the European Restructuring Directive, which aims to improve national frameworks governing business restructuring and insolvency as well as to provide debt relief for individuals. Gerard McCormack explores the key aspects of the Directive including the moratorium on litigation and enforcement claims against the financially-troubled business, the provision for new financing, the division of creditors into classes, the introduction of a restructuring plan and the rules for approval of the plan by a court or administrative authority.
Author: Gerard McCormack Publisher: Edward Elgar Publishing ISBN: 1789908817 Category : Law Languages : en Pages : 319
Book Description
This comprehensive book provides a clear analysis of the European Restructuring Directive, which aims to improve national frameworks governing business restructuring and insolvency as well as to provide debt relief for individuals. Gerard McCormack explores the key aspects of the Directive including the moratorium on litigation and enforcement claims against the financially-troubled business, the provision for new financing, the division of creditors into classes, the introduction of a restructuring plan and the rules for approval of the plan by a court or administrative authority.
Author: Remigijus Jokubauskas Publisher: Taylor & Francis ISBN: 1040025269 Category : Law Languages : en Pages : 196
Book Description
This book presents an analysis of the effectiveness of European Union cross-border insolvency proceedings. It provides a thorough assessment of the development of cross-border insolvency proceedings established in the Regulation on Insolvency Proceedings ((EU) 2015/848) and how they contribute to the general goals of the EU internal market. Insolvency law has not been subject to a global mandatory harmonization process, with no globally biding legal act. Instead, the landscape of international insolvency law is characterized by a patchwork of national laws that seek to accommodate cross-border insolvencies and soft law agreements. In the EU cross-border insolvency law holds significant importance in ensuring the smooth operation of the internal market. Fostering international investments and legal foreseeability in insolvency proceedings, it upholds the fundamental freedoms within EU law. This book covers the main elements of EU cross-border insolvency law, such as jurisdiction, applicable law, recognition and enforcement of judgments. It also focuses on previously unexplored areas, such as the exercise of creditors' rights in cross-border insolvency cases and the tracing and recovery of assets and discusses the application of the Restructuring and Insolvency Directive ((EU) 2019/1023) in relation to the rescue of viable companies and the discharge of debts for insolvent entrepreneurs. This book will be of interest to students and practitioners of insolvency law, EU law and private international law. It will also be useful for national legislators and EU institutions working on the development of EU insolvency law.
Author: Christoph G Paulus Publisher: Beck/Hart/Nomos ISBN: 9781509938810 Category : Law Languages : en Pages : 512
Book Description
The European Directive (Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2020 on preventive restructuring frameworks, on discharge of debts and disqualification, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt) has to be transposed into national legislation by 26 June 2021. The main features of the Directive are: - the obligatory making available of early warning systems; - the obligatory creation of an insolvency avoidance mechanism; - the determination of certain insolvency related officers' duties; - the uniformisation of discharge rules among member states; and - measures to increase the national insolvency laws' efficiency In this book a team of European-wide recognised, experienced insolvency law experts, some of whom had been involved in the drafting process of the Directive, analyse the Directive. The authors focus not only on the officials tasked in the national surroundings with drafting the national statutes but also on the wider implications which, one way or the other, will be national law. The commentary, thus, serves also the purposes of practitioners and judges in the field of restructuring.
Author: Irit Mevorach Publisher: Oxford University Press ISBN: 0198782896 Category : Business & Economics Languages : en Pages : 321
Book Description
A fresh and insightful guide to post-financial crisis cross-border insolvency, this book interrogates the current regime and sets out a framework for improving its future. In recent decades, and especially since the global financial crisis, a number of important initiatives have focused on developing the mechanisms for managing the insolvency of multinational enterprises and financial institutions. The book considers the effectiveness of the current system and identifies the gaps that could be bridged by adopting certain strategies and tools, to improve the system further. The book first discusses the theoretical debate regarding cross-border insolvency and surveys the strengths and weaknesses of the prevailing method-modified universalism-in its application to both commercial entities and financial institutions, consequently identifying a single set of emerging norms. The book argues that adhering to these norms more robustly would enhance global welfare and produce the best outcomes for businesses and institutions. By drawing upon sources from international law as well as behavioural and economic theory, the book offers a blueprint for meeting the demands of future cross-border insolvencies. It considers how to translate modified universalism into binding international law and how to choose the right instrument for cross-border insolvency as well as the impact that instrument design has on decisions and choices. It explores how to encourage compliance and proposes mechanisms that could potentially overcome, or at least take into account, behavioural biases in decision-making.
Author: Thomas Kadner Graziano Publisher: Edward Elgar Publishing ISBN: 1788975650 Category : Law Languages : en Pages : 1159
Book Description
Since the adoption of the EU Regulation on Insolvency Proceedings in 2000 and its recast in 2015, it has become clear that lawyers engaged in consumer insolvency proceedings are increasingly expected to have a basic understanding of foreign insolvency proceedings, as well as knowledge of the foreign country's court and legal system, legislation and judicial practice. Written by 50 highly qualified insolvency experts from 30 European countries, A Guide to Consumer Insolvency Proceedings in Europe provides the necessary information in the largest, most up-to-date and comprehensive book on this topic. Assisting the readers in their navigation through the differences, similarities, and peculiarities of insolvency proceedings in all Member States of the European Union, Switzerland and Russia, this book is a unique guide to insolvency proceedings across Europe. With contributions by both academics and practitioners, it provides truly multinational coverage of the economic, legal, social, political, and demographic issues in consumer insolvency. Illustrating the numerous practices across Europe, this book allows the reader to evaluate each aspect both on its own merits, as well as in comparison to the approaches applied in other European jurisdictions. This book will be an invaluable tool for insolvency practitioners, judges, lawyers, creditors and debtors throughout Europe, especially those participating in cross-border proceedings.
Author: Miguel Virgos Publisher: Kluwer Law International B.V. ISBN: 9041120890 Category : Law Languages : en Pages : 274
Book Description
After many years of negotiations among Member States, a uniform set of private international law rules has been established to determine the conduct of cross-border insolvency proceedings within the European Community. This is the European Insolvency Regulation of May 2000. Although each state still retains its own insolvency law, the regulation greatly reduces the risk of opportunistic behaviour by providing certainty as to which European courts have jurisdiction to open insolvency proceedings and which state?s laws apply, in addition to ensuring the cross-border effectiveness within the EU of the decisions handed down by those courts. This in-depth commentary offers practitioners in international business transactions and litigation a definitive guide to the workings of the Insolvency Regulation. The authors?one of whom co-wrote the official explanatory report on the 1995 Convention on Insolvency Proceedings, a report that still plays a fundamental hermeneutic role?leave no stone unturned in their probing analysis, which explains in detail such elements as the following: relationship with other community legal instruments and international conventions; territorial scope; substantive scope; third-party rights in rem and reservation of title; set-off; contracts relating to immovable property; employment contracts and relationships; payment systems and financial markets; community patents and trademarks; publication and registration; lodgement of claims; and special considerations affecting credit institutions and insurance undertakings. Company lawyers handling insolvency cases and issues will find nothing comparable to this expert work. Its direct practical usefulness is immediately apparent. In addition, however, it stands out as a preeminent work on a critical and hard-won legal instrument (and by extension on the entire field of European insolvency law) and as such is an essential resource for jurists and legal academics.
Author: Louise Gullifer Publisher: Bloomsbury Publishing ISBN: 1509929193 Category : Law Languages : en Pages : 997
Book Description
The third edition of this acclaimed book continues to provide a discussion of key theoretical and policy issues in corporate finance law. It has been fully updated to reflect developments in the law and the markets. One of the book's distinctive features is its equal coverage of both the equity and debt sides of corporate finance law, and it seeks, where possible, to compare and contrast the two. This book covers a broad range of topics regarding the debt and equity-raising choices of companies of all sizes, from SMEs to the largest publicly traded enterprises, and the mechanisms by which those providing capital are protected. Each chapter provides a critical analysis of the present law to enable the reader to understand the difficulties, risks and tensions in this area, and the attempts by the legislature, regulators and the courts, as well as the parties involved, to deal with them. The book will be of interest to practitioners, academics and students engaged in the practice and study of corporate finance law.
Author: Christopher Mallon Publisher: Law Business Research Ltd. ISBN: 1912377764 Category : Languages : en Pages : 646
Book Description
The Restructuring Review, edited by Christopher Mallon of Skadden, Arps, Slate, Meagher & Flom LLP, seeks to help general counsel, government agencies and private practice lawyers understand the conditions prevailing in the global restructuring market with a view to the coming year, and to highlight some of the more significant legal and commercial developments and trends that are expected to be significant in the future. As tensions in the Middle East, South East Asia and Russia remain unresolved, and the political implications of Brexit and mass immigration continue to be worked out in Europe and beyond, the realisation is dawning on many that a turn in the economic cycle may be approaching and that the severe economic crisis of 2008-9 may not be an isolated event. This book aims to outline the impact of developments like this on the global restructuring market, with in-depth looks at the issue from local experts in 28 jurisdictions. Contributors include: France - Joanna Gumpelson and Philippe Dubois, De Pardieu Brocas Maffei; Hong Kong - Tom Pugh, Mayer Brown JSM; Japan - Nobuaki Kobayashi and Yosuke Kanegae, - Nagashima Ohno & Tsunematsu; Netherlands - Paul Kuipers, Linklaters LLP; Singapore - Kenneth Lim, Allen & Gledhill LLP; Spain - Alberto Nunez-Lagos, Uria Menendez
Author: Sjur Swensen Ellingsæter Publisher: Bloomsbury Publishing ISBN: 1509953671 Category : Law Languages : en Pages : 277
Book Description
This book provides the first comprehensive treatment of creditor priority in European bank insolvency law. Following reform in the wake of the global financial crisis, EU law requires that Member States have in place bank-specific insolvency frameworks. Creditor priority-the order in which different creditors bear losses should a bank fail-differs substantially between bank-specific and general insolvency law. The bank-specific creditor priority framework aims to ensure that banks can enter insolvency proceedings without disrupting financial stability. The book provides a systematic and thorough account of the Bank Recovery and Resolution Directive and other EU legislation that governs creditor priority in bank resolution and liquidation proceedings, and their interaction with national law. The framework is analysed from several perspectives, including comparison with creditor priority in English, German and Norwegian general insolvency law. Moreover, the book places the evolution of the framework and its justifications within the broader post-crisis shifts in bank regulation, and critically examines the assumptions that underlie these developments. Finally, the book discusses how this area of law could evolve in the future.
Author: Gerard McCormack
Author: Gerard McCormack
Author: Remigijus Jokubauskas
Author: Lorenzo Stanghellini
Author: Christoph G Paulus
Author: Irit Mevorach
Author: Thomas Kadner Graziano
Author: Miguel Virgos
Author: Louise Gullifer
Author: Christopher Mallon
Author: Sjur Swensen Ellingsæter