Corporate Insolvency Law And Bankruptcy Reforms In The Global Economy
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Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy by Kashyap, Amit Pdf
With the increasing interdependence of global economies, international relations are becoming a more complex system. Through this, the growth of any economy is dependent upon the ease of business transactions; however, in recent times, there has been a growing impact of corporate insolvency law. Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy is an essential reference source that discusses the importance of insolvency laws in the financial architecture of emerging economies, as well as its fundamental issues. Featuring research on topics such as business restructuring, debt recovery, and governance regulations, this book is ideally designed for law students, policymakers, economists, lawyers, and business researchers seeking coverage on the jurisprudence and policy of corporate insolvency law in a globalized context.
International Insolvency Law by Professor Paul Omar Pdf
International insolvencies are a common feature worldwide in business and finance sectors and the scale and frequency of such occurrences have caught the attention of many academics and commentators. Following on from the 2008 book, International Insolvency Law: Themes and Perspectives, this book presents up-to-date accounts of themes in the field of insolvency law. It deals with reforms in and challenges to the subject in relation to its comparative and international aspect. The cutting edge contributions include chapters from common law, civil and mixed traditions and have been conceived to increase awareness of the impact of insolvency law within domestic, regional and global contexts. Useful and thought-provoking, the chapters take an innovative approach and give new interpretations to hitherto available material. This book will be invaluable for those wishing to keep abreast of developments in jurisdictions representing all legal traditions and is a useful guide to the improvement and reform of insolvency laws and frameworks.
Through the lens of the Asian Financial Crisis, this book documents how international organizations and national governments crafted legal responses, through corporate bankruptcy reforms, to the fragility of financial markets in East Asia and worldwide.
Global Insolvency and Bankruptcy Practice for Sustainable Economic Development by Dubai Economic Council,Adrian Cohen Pdf
This book is a comparative study of international practices in bankruptcy law, providing perspectives from a variety of specialisms including practitioners, lawyers, bankers, accountants and judges from the United Arab Emirates, the UK and Singapore.
Insolvency Law Reforms in Asian Developing Countries by Yuka Kaneko Pdf
This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.
International Bankruptcy by Jodie Adams Kirshner Pdf
With the growth of international business and the rise of companies with subsidiaries around the world, the question of where a company should file bankruptcy proceedings has become increasingly complicated. Today, most businesses are likely to have international trading partners, or to operate and hold assets in more than one country. To execute a corporate restructuring or liquidation under several different insolvency regimes at once is an enormous and expensive challenge. With International Bankruptcy, Jodie Adams Kirshner explores the issues involved in determining which courts should have jurisdiction and which laws should apply in addressing problems within. Kirshner brings together theory with the discussion of specific cases and legal developments to explore this developing area of law. Looking at the key issues that arise in cross-border proceedings, International Bankruptcy offers a guide to this legal environment. In addition, she explores how globalization has encouraged the creation of new legal practices that bypass national legal systems, such as the European Insolvency Framework and the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law. The traditional comparative law framework misses the nuances of these dynamics. Ultimately, Kirshner draws both positive and negative lessons about regulatory coordination in the hope of finding cleaner and more productive paths to wind down or rehabilitate failing international companies.
Author : Paul J. Omar,Jennifer L. L. Gant Publisher : Edward Elgar Publishing Page : 584 pages File Size : 46,5 Mb Release : 2021-08-10 Category : Electronic ISBN : 1786437465
Research Handbook on Corporate Restructuring by Paul J. Omar,Jennifer L. L. Gant Pdf
This timely Research Handbook examines the increasingly economically vital topic of corporate restructuring. Reflecting a shift in the global approach to insolvency towards a focus on rescuing viable businesses rather than liquidation, chapters consider all areas of the law closely connected to corporate insolvency, rehabilitation and rescue, as well as the introduction of the EU Preventive Restructuring Directive and other reforms from around the world. Featuring international expert academics, practitioners and judges, the Research Handbook takes a thematic approach, exploring national and international models for rescue, stakeholders in insolvency, corporate structures and organisational models, specialist process issues, and institutional support, as well as interdisciplinary and cross-field aspects of insolvency and restructuring. Contributions analyse issues from a broad variety of perspectives, including the economic and social aspects of insolvency, and provide a comparative discussion of topics that will further inform global academic debate in this area. Scholars and students of corporate and insolvency law, commercial law, and law and economics, will find the inter-disciplinary legal, theoretical and jurisprudential discussion invaluable. The analysis of current reform agendas, practical and alternative solutions to common problems, and comparative approach will also be of interest to practitioners and policymakers.
Global Insolvency and Bankruptcy Practice for Sustainable Economic Development by Dubai Economic Council,Adrian Cohen Pdf
How an economy handles financial and business distress has a major impact on confidence in business, the availability of investment, the cost of credit, and economic growth. The financial crisis of 2007-2008 and its aftermath was a catalyst to legal reform in the field of bankruptcy and restructuring law and brought an added focus to the systemic threat of bank failure to the financial system. This book explores the general principles and practice of legal reform within bankruptcy. From a variety of specialists including practitioners, lawyers, bankers, accountants and judges from the United Arab Emirates, the UK and Singapore, it provides a variety of perspectives on the topic. Chapters include topics such as the 'Four Pillars of Regulatory Framework', the history and application of the UNCITRAL Model Law on Cross-Border Insolvency, the challenges for financial institutions and the treatment of the insolvency of natural persons. The book also offers a comparative study of Islamic Shari'ah principles with modern bankruptcy regimes, an analysis of bankruptcy in the UAE and an evaluation of the legal infrastructure of the DIFC Courts. The authors explore core questions surrounding bankruptcy law, including its ability to facilitate the turnaround of business, to enable efficient reallocation of capital, to provide coherent rules for entrepreneurs, investors, employees, and creditors, and to provide for both appropriate sanctions and for rehabilitation. ?
Author : Bob Wessels,Bruce A. Markell,Jason J. Kilborn Publisher : Oxford University Press Page : 285 pages File Size : 50,7 Mb Release : 2009 Category : Language Arts & Disciplines ISBN : 9780195340174
International Cooperation in Bankruptcy and Insolvency Matters by Bob Wessels,Bruce A. Markell,Jason J. Kilborn Pdf
International Cooperation in Bankruptcy and Insolvency is published in cooperation with the International Insolvency Institute and the American College of Bankruptcy. The Honorable Bruce A. Markell, Dr. Bob Wessels and Prof. Jason Kilborn provide readers with invaluable insights into the origin, development and future of communication and cooperation in cross-border insolvency cases between insolvency practitioners and the courts. The globalization of the world's economy has led to highly complex international aspects of financial reorganization and restructuring. This publication analyzes the structures, systems, and practices that have developed and are quickly emerging to coordinate and enhance international administrations.
Vanessa Finch provides an interesting look at corporate insolvency laws and processes. She adopts an interdisciplinary approach to place two questions at the centre of her discussion. Are current UK laws and procedures efficient, expert, accountable and fair? Are fundamentally different conceptions of insolvency law needed for it to develop in a way that serves corporate and broader social ends? Topics considered in this wide-ranging book include different ways of financing companies, causes of corporate failure and prospects for designing rescue-friendly processes. Also examined are alternative asset distribution of failed companies, allocations of insolvency risks and effects of insolvency on a company's directors and employees. Finch argues that changes of approach are needed if insolvency law is to develop with coherence and purpose. This book will appeal to academics and students at advanced undergraduate and graduate level, and to legal practitioners throughout the common law world.
Reinventing Insolvency Law in Emerging Economies by Aurelio Gurrea-Martínez Pdf
This book explains how and why insolvency law in emerging economies needs to be reinvented. It starts by examining the importance of insolvency law for the promotion of economic growth as well as the similarities and divergences in the design of insolvency law around the world. The central thesis of the book is that insolvency law in emerging economies fails to serve as a catalyst for growth. It is argued that this failure is mainly due to the design of an insolvency legislation that is not tailored to the market and institutional environment generally existing in emerging economies. The book also provides a critical analysis of the design of insolvency law in many advanced economies where the insolvency system has proven to be unattractive for debtors, creditors or both. Therefore, in addition to suggesting a new insolvency framework for emerging economies, this book ultimately invites readers to rethink insolvency law.
Corporate Rescue by Katarzyna Gromek Broc,Rebecca Parry Pdf
For many years, The functioning of the single European market has made it easy for companies to establish themselves and do business throughout the European Union¿unless, that is, they failed. In that case, until recently, a company became subject To The insolvency laws of each individual country. The divergence among these laws seemed far beyond the possibility of harmonisation. During the last few years, however, a twofold development is bringing relief. First, thanks To The European Regulation on Insolvency And The UNCITRAL Model Insolvency Laws, jurisdictional issues can be resolved and determined in cases where more than one country is affected by the insolvency of a particular enterprise. Second¿and far more promising¿stated EU policy goals urging a convergence in thinking on substantive insolvency issues at the Member State level are bearing fruit in reforms that abandon extreme or unusual features and open more common ground. Spearheading these reforms are statutory corporate insolvency procedures that offer an alternative to liquidation¿procedures grouped under the heading of corporate rescue. In this book eleven outstanding European insolvency law specialists, representing both practitioners and academics, investigate significant changes in corporate rescue laws that have either already been implemented or that are on the law reform agenda. The essays include expert analyses and evaluations of corporate rescue laws in each of six EU Member States¿France, Germany, Italy, Spain, Sweden, And The United Kingdom¿as well as insightful discussions of the broader European context. Because corporate rescue is the lifeblood of insolvency law, it is likely to be this aspect that has the greatest role to play in the economic and social development of the European Union. For this reason¿and because of the obvious beneficial value of corporate rescue in ensuring fair treatment of creditors and protection of debtors, As well as in reducing the level of stigma attached to insolvency¿Corporate Rescue in Europe will be valued by company lawyers and law firms throughout Europe, and in particular to those handling bankruptcy and insolvency proceedings.
Contemporary Issues in Finance and Insolvency Law Volume 1 by Leon Trakman,Robert Walters Pdf
There is increasing regulatory interdependence amongst Central, East and South East Asian, European and North American financial markets, and these markets account for over one-third of the world’s population and global financial markets. As Asian markets become more integral to global financial economy, more cohesive, compatible and integrated insolvency and restructuring laws are essential. This two-volume work reviews why we should internationalise current cross-border insolvency and how we could restructure laws to address inadequacies. The two volumes evaluate international regulatory reforms directed at detecting and managing cross-border insolvency and restructuring crises across the entire economy including financial markets. The authors call for schemes of arrangements and letters of comfort to be formally accepted as international legal tools. The work also assesses recent, but as yet largely unregulated developments in financial agreements, particularly the use of close-out netting provisions that serve as significant protective mechanisms prior to the declaration of an insolvency. It discusses international arbitration, data protection and artificial intelligence in crossborder insolvency and restructuring. Finally, the book seeks a meaningful balance between self-regulation through financial contracts and other party practices, and regulation imposed by governments and international financial regulators. This extensive work will be a useful reference for legal practitioners, policy makers and scholars working on financial regulation and international financial laws.
Insolvency Law in East Asia by Professor Roman Tomasic Pdf
This volume provides an overview of insolvency laws and related rules and procedures in the countries of East Asia. So far as possible, given the varying states of legal development, each chapter addresses key themes such as: the legal system and culture; personal insolvency laws; corporate insolvency rules; court based schemes of arrangement; winding up procedures; liquidators; enforcement; and offences.
