Search results for: pre-insolvency-proceedings

Pre Insolvency Proceedings

Author : Nicolaes Tollenaar
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This timely new work evaluates the law regarding pre-insolvency proceedings. Setting the law in context, the book provides a conceptual framework for ideal practice, illustrating the implications of the new regime with specific practical examples. The book features a comprehensive discussion of the key principles underlying restructuring proceedings and explains the purpose of, and justification for, pre-insolvency proceedings. It provides answers to a number of important issues that are still undecided and the subject of debate. In particular, the book provides detailed analysis of the system of voting in classes, and it offers an in-depth discussion of the appropriate criteria for confirmation and cram-down together with consideration of the little-understood underlying economic issues. It also includes analysis of the key aspects of valuation and the applicable valuation standards in the context of restructuring, much needed as the incidence of judicial valuation arises in the context of cram-down. A comparative analysis and critique of UK schemes of arrangement and US Chapter 11 procedure is also included, giving readers a good understanding of the key features of both systems and enabling them to identify and learn from the differences. The author also proposes an outline of ideal pre-insolvency proceedings, setting out general and specific requirements for ensuring flexibility, efficiency, and effectiveness.


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Rescue of Business in Europe

Author : European Law Institute
File Size : 24.16 MB
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This edited volume is based on the European Law Institute's (ELI) project 'Rescue of Business in Insolvency Law'. The project ran from 2013 to 2017 under the auspices of the ELI and was conducted by Bob Wessels and Stephan Madaus, who were assisted by Gert-Jan Boon. The study sought to design (elements of) a legal framework that will enable the further development of coherent and functional rules for business rescue in Europe. This includes certain statutory procedures that could better enable parties to negotiate solutions where a business becomes financially distressed. Such a framework also includes rules to determine in which procedures and under which conditions an enforceable solution can be imposed upon creditors and other stakeholders despite their lack of consent. The project had a broad scope, and extended to consider frameworks that can be used by (non-financial) businesses out of court, and in a pre-insolvency context. Part I of this book, the ELI Instrument as approved by the ELI Council and General Assembly, features 115 recommendations on a wide variety of themes affected by the rescue of financially distressed businesses, such as the legal rules for professions and courts, treatment and ranking of creditors' claims, contract, corporate and labour law as well as laws relating to transaction avoidance. Part II consists of national reports that sketch the legal landscape in 13 States and of an 'Inventory Report on International Recommendations from Standard-Setting Organisations', both of which provided insight for the drafting of the Instrument. This volume is designed to assist those involved in a process of law reform and those setting standards for soft law in the business rescue context.

A Guide to Consumer Insolvency Proceedings in Europe

Author : Thomas Kadner Graziano
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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.

Comparative Insolvency Law

Author : Bo Xie
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Comparative Insolvency Law argues that the most important development in contemporary insolvency law and practice is the shift towards a rescue culture rather than full creditor satisfaction. This book is the first to specifically examine the rise of the pre-pack approach, which permits debtor companies to formulate a clear pre-arranged exit before entering into formal insolvency proceedings.

Insolvency and Restructuring Law in Central Eastern Europe

Author : Christian Hönig
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Introduction to insolvency laws of CEE countries The first contact with foreign insolvency laws is in most cases as unpleasant as sudden. And even if local bankruptcy counsel has been retained, many questions remain unanswered and it is frequently difficult to put the information coming from the foreign insolvency lawyer in proper perspective. This compilation, which has been prepared by lawyers practicing in the area of insolvency law at the Wolf Theiss offices in the countries covered by this book, is an attempt to bridge this information gap. It is intended to serve as a quick reference tool for business managers, in-house counsel, lawyers in general practice and other professionals who need to familiarize themselves quickly with some of the most practice-relevant features of the insolvency laws of one or more of the following countries: Albania, Austria, Bosnia/Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine. Moreover, this book may be useful to lawyers familiar with insolvency matters in their own jurisdiction, who are looking for a convenient introduction into foreign insolvency laws. The practical focus of this book and its emphasis on restructuring-related topics is underscored by a contribution of Alvarez & Marsal, a global turnaround and forensic advisory firm.

Proceedings of MAC EMM 2015 in Prague

Author : group of authors
File Size : 82.89 MB
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Environmental Issues in Insolvency Proceedings

Author : John Barrett
File Size : 28.76 MB
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At the October 1996 meeting of the Section on Business Law of the International Bar Association, Committee J presented a programme on environmental issues in insolvency proceedings. The success of the programme encouraged the participants to expand their papers into this book which offers an up-to-date current analysis of the treatment of environmental issues in bankruptcy and insolvency proceedings in six jurisdictions: Canada, Denmark, Germany, Spain, the United Kingdom and the United States. Each of the contributors outline the environmental concerns and legal issues within their jurisdiction, address the insolvency issues that arise and the impact of environmental concerns. The book also includes useful insights from a major international bank - Bank of Nova Scotia - into the handling of international credits where environmental concerns are raised in insolvency proceedings.

Insolvency Proceedings and Commercial Arbitration

Author : Vesna Lazic
File Size : 72.50 MB
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Throughout the work, introductions and conclusions serve as overviews of particular components of the study, and set out the observations drawn. An overall summary and conclusion section crystallizes the points made.

Employee Rights in Corporate Insolvency

Author : Hamiisi Junior Nsubuga
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This book analyses corporate rescue laws, processes and policies prescribed in corporate insolvency or bankruptcy laws, and employment laws of the UK and the US, with a particular focus on how extant employee rights are treated when a debtor employer initiates corporate insolvency proceedings. The commencement of formal insolvency proceedings by an employer affects employees’ rights and interests. Employment laws seek to protect employees’ rights and interests, while insolvency laws seek to promote corporate rescue, which may entail workforce changes. Consequently, this creates a tension between whose interest insolvency law should give primacy of protection. The book analyses how corporate rescue processes such as administration, pre-pack business sales, company voluntary arrangements, receivership and liquidation impact employee rights and protection during corporate rescue proceedings in both jurisdictions. It goes on to address how the federal system of government in the US and the diffusion of power between federal and state law jurisdictions impact a uniform code of employee protection during Chapter 11 bankruptcy reorganisation proceedings. The book considers how an interpretative approach to law (Dworkin’s Interpretative Theory of Law) may be used to balance both employee protection and corporate rescue laws during corporate insolvency in the UK and the US. Of interest to academics, students and employment law practitioners, this book examines the tension between corporate rescue laws and employment protection laws during corporate insolvency in the US and the UK and how this tension may be remedied or balanced.

Corporate Rescue Procedures in France

Author : Anker Sorensen
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This valuable guide offers detailed, practical advice to decision-makers in companies and businesses interested in market conditions in France, as well as to lawyers advising on the rules which affect insolvency and corporate rescue procedures in France. Corporate Rescue Procedures in France provides a detailed and accessible analysis of all major issues in French insolvency law and practice. Areas covered in depth include: the new regime for corporate voluntary agreements the relative rights of creditors and their debtor the take-over and rescue of insolvent companies the liabilities of directors and the new European Insolvency Conventions The book also includes comprehensive tables of statutory materials and case law, as well as appendices giving details on legislation, timetables and procedural formalities. `The book will be positively welcomed by practitioners as well as any businesses or persons whose activities in France require a good practical knowledge of the rules applicable to insolvency. '--Jean-Pierre Mattei, President of the Commercial Court of Paris.

Standard Poor s Creditweek

Author :
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Cross border Insolvency

Author : United Kingdom National Committee of Comparative Law
File Size : 48.99 MB
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The Implementation of the New Insolvency Regulation

Author : Burkhard Hess
File Size : 88.71 MB
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The study is a result of a collaborative research project addressing “The Implementation of the New Insolvency Regulation – Improving Cooperation and Mutual Trust”. The project was undertaken by the Max Planck Institute Luxembourg for Procedural Law, the University of Vienna and the University of Milan, and co-funded by the European Union as part of the Commission's Action Grants 2013 for Civil Justice. The focus of the study concerns specific issues of cross-border insolvencies under the recast of the Insolvency Regulation which already has been prepared by a large part of the contributing authors in the Heidelberg-Vienna-Luxembourg Report. The study is comprised of three major topics: 1.The Regulation's extended scope of application, including pre-insolvency and hybrid proceedings, the relationship between Article 1(1) of the Regulation and its Annex A, as well as the interplay between the Insolvency Regulation and the Brussels Ibis Regulation; 2.the cooperation between main and secondary insolvency proceedings, the new instruments, such as “synthetic proceedings”, destined to avoid or postpone the opening of secondary proceedings, further the cooperation between administrators and courts of different proceedings as well as protocols to enhance cooperation; 3.insolvencies of groups of companies, with a particular focus on jurisdiction, COMI-migration, “group coordination proceedings” and other instruments of coordination.

The Company Financial and Insolvency Law Review

Author :
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Report of the United Nations Commission on International Trade Law on the Work of Its Session

Author : United Nations Commission on International Trade Law
File Size : 53.10 MB
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Official Records

Author :
File Size : 65.11 MB
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Author : United Nations Commission on International Trade Law
File Size : 38.24 MB
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The Framework of Corporate Insolvency Law

Author : Hamish Anderson
File Size : 21.33 MB
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This book provides a critical examination of modern English corporate insolvency law, in particular the procedures under the Insolvency Act 1986, from both conceptual and functional points of view. It focuses throughout on identifying a rational explanation for the form that the rules and institutions of the modern law take or, where there is no such rational explanation, the history which has resulted in the present position. A central theme of the book is that the nature and fundamental purpose of insolvency proceedings themselves dictate many of the features of English insolvency proceedings. For example, collective execution on behalf of creditors necessitates definition of the insolvent estate and the provision of rules concerning provable debts and transaction avoidance. Many key features of the insolvency procedures are therefore essentially matters of practicality rather than principle, albeit practicalities applied justly and fairly. The book covers the nature and purpose of insolvency law; the procedures; the administration, supervision and regulation of insolvency proceedings; the insolvent estate and transaction avoidance; investigation and wrongdoing by directors; phoenixism and pre-packing; distribution of the insolvent estate; and, lastly, cross-border insolvency. It examines the various principles of insolvency law in the context of practice, drawing upon historical perspectives where appropriate. By explaining how the law takes the form that it does, the book promotes an understanding of the present law and institutions as a whole, and shows how this understanding might inform future developments.

Report of the Advisory Group on Bankruptcy Laws

Author : India. Advisory Group on Bankruptcy Laws
File Size : 73.61 MB
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