European Preventive Restructuring

Author : Harold Koster,J. M. G. J. Boon,R. D. Vriesendorp
Publisher : Unknown
Page : 0 pages
File Size : 53,6 Mb
Release : 2024-02-26
Category : Law
ISBN : 9047301862

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Implementation of the EU Preventive Restructuring Directive by Harold Koster,J. M. G. J. Boon,R. D. Vriesendorp Pdf

In 2019, the European Parliament and the Council adopted the Preventive Restructuring Directive (2019/1023), providing for minimum harmonisation of, among others, preventive restructuring frameworks (PRF). This book provides in-depth analyses of its implementation in seven European countries: Austria, Denmark, France, Germany, Greece, The Netherlands, and the United Kingdom. Whereas Member States of the European Union were under a duty to complete implementation by July 2022, the United Kingdom took inspiration from it when voluntarily introducing reforms to its restructuring regime. This book covers detailed analyses of the new or reformed PRFs across Europe, including the objective and scope of a PRF, the criteria/test to enter a PRF, the involved actors, the possibilities for a stay, the plan, the possibilities for a debt-for-equity swap, the effects of a PRF on executory contracts and jurisdiction and recognition of court decisions taken during a PRF. Drawing on the domestic implementations, the book also presents a comparative study evaluating the different policy options implemented by domestic legislators. This book functions as an insightful source for practitioners, academics and policy makers. This book series is published under the aegis of the Leiden Business and Law Research Network (BLRN). This research and expertise network conducts research on the various aspects of doing business in the context of company and insolvency law. BLRN pays particular focus on topics such as corporate governance, corporate sustainability, mergers and acquisitions, and restructuring and insolvency. www.universiteitleiden.nl/blrn

Author : Christoph G. Paulus,Reinhard Dammann
Publisher : Unknown
Page : 128 pages
File Size : 53,6 Mb
Release : 2020
Category : Electronic
ISBN : 3848769557

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European Preventive Restructuring by Christoph G. Paulus,Reinhard Dammann Pdf

Author : Gerard McCormack
Publisher : Edward Elgar Publishing
Page : 319 pages
File Size : 54,7 Mb
Release : 2021-04-30
Category : Law
ISBN : 9781789908817

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The European Restructuring Directive by Gerard McCormack Pdf

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 : Christoph G Paulus,Reinhard Dammann,Tom Braegelmann
Publisher : Beck/Hart/Nomos
Page : 512 pages
File Size : 48,9 Mb
Release : 2021-05-20
Category : Law
ISBN : 1509938818

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European Preventive Restructuring by Christoph G Paulus,Reinhard Dammann,Tom Braegelmann Pdf

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 : Jose M Garrido,Ms. Chanda M DeLong,Amira Rasekh,Anjum Rosha
Publisher : International Monetary Fund
Page : 53 pages
File Size : 51,6 Mb
Release : 2021-05-27
Category : Business & Economics
ISBN : 9781513573595

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Restructuring and Insolvency in Europe: Policy Options in the Implementation of the EU Directive by Jose M Garrido,Ms. Chanda M DeLong,Amira Rasekh,Anjum Rosha Pdf

The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters, but its harmonization effect will be limited given multiple options for implementation, likely leading to divergent restructuring models in Europe. These options reveal different policy approaches to the regulation of restructuring and insolvency. The analysis in this paper aims to illustrate the breadth of the policy choices and their consequences for restructuring activity. States should carefully design restructuring procedures to avoid the negative economic effects of certain options that could undermine creditors’ rights or result in unpredictable outcomes, particularly in cross-border cases.

Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 41,5 Mb
Release : 2023
Category : Electronic
ISBN : 9400113595

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Implementation of the EU Preventive Restructuring Directive by Anonim Pdf

Author : Lynch Fannon, Irene,Gant, Jennifer L.L.,Finnerty, Aoife
Publisher : Edward Elgar Publishing
Page : 384 pages
File Size : 54,6 Mb
Release : 2022-05-13
Category : Law
ISBN : 9781800887862

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Corporate Recovery in an Integrated Europe by Lynch Fannon, Irene,Gant, Jennifer L.L.,Finnerty, Aoife Pdf

Presenting a comprehensive overview of the changes in policies and economic doctrines of the American economy following the 2008 global financial crisis, this book critically examines the reformation of the corporate landscape. Observing the growth of oligopolistic market tendencies and increased economic concentration, it draws on scholarly literature from economics, management studies and legal theory to provide an integrated perspective on the causes and consequences of the crisis.

Author : Nicolaes Tollenaar
Publisher : Unknown
Page : 128 pages
File Size : 48,5 Mb
Release : 2019
Category : LAW
ISBN : 019256000X

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Pre-insolvency Proceedings by Nicolaes Tollenaar Pdf

This timely new work evaluates the law regarding pre-insolvency proceedings, and in particular, the terms of the 2017 EU Directive. 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.

Author : Peter Kindler
Publisher : Nomos/Hart
Page : 1200 pages
File Size : 46,7 Mb
Release : 2020-08-20
Category : Law
ISBN : 150992406X

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Corporate Law by Peter Kindler Pdf

The purpose of the European directives on corporate law is to enable businesses to be set up anywhere in the EU, to provide protection for shareholders and other parties with a particular interest in companies, to make business more efficient and competitive, and to encourage businesses based in different EU countries to co-operate with each other. This new Commentary on Corporate Law provides an in-depth expert analysis of all legal issues concerning the setting up and several other main issues covered by EU corporate law.

Author : Lorenzo Stanghellini,Riz Mokal,Christoph G. Paulus,Ignacio Tirado
Publisher : Unknown
Page : 128 pages
File Size : 40,6 Mb
Release : 2018
Category : Law
ISBN : 8813370962

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Best Practices in European Restructuring by Lorenzo Stanghellini,Riz Mokal,Christoph G. Paulus,Ignacio Tirado Pdf

Author : Daoning Zhang
Publisher : Routledge
Page : 288 pages
File Size : 53,9 Mb
Release : 2019-07-30
Category : Law
ISBN : 9781000497298

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Insolvency Law and Multinational Groups by Daoning Zhang Pdf

The insolvency of multinational corporate groups creates a compelling challenge to the commercial world. As many medium and large-sized companies are multinational companies with operations in different countries, it is important to provide appropriate solutions for the insolvency of these key market players. This book provides a comprehensive overview of the cross-border insolvency theories, practical solutions and regulatory solutions for the insolvency of multinational corporate groups. Whilst the book recognises certain merits of these solutions, it also reveals the limitations and uncertainty caused by them. An analysis of the provisions and tools relating to cross-border insolvency of multinational corporate groups in the new EU Regulation on insolvency proceedings 2015, the UNCITRAL Model Law on cross-border insolvency, the Directive on preventive restructuring frameworks and the Bank Recovery and Resolution Directive 2014, along with a study of directors’ duties, are included in this book. This book focuses on the insolvency and rescue of non-financial corporate groups. However, it is also important to recognise the similarities and differences between corporate insolvency regimes and bank resolution regimes. In particular, lessons learnt from bank resolution practices may be useful for non-financial corporate groups. This book aims to provide an in-depth examination of the existing solutions for the insolvency of multinational corporate groups. It also aims to view cross-border insolvency of corporate groups within a broad context where all relevant regimes and theories interact with each other. Therefore, directors’ duties in the vicinity of insolvency, preventive insolvency proceedings, procedural consolidation, international cooperative frameworks and bank resolution regimes are considered together. This book may appeal to academics, students and practitioners within the areas of corporate law, cross-border insolvency law and financial law.

Author : Richard Marney,Timothy Stubbs
Publisher : Springer Nature
Page : 422 pages
File Size : 47,9 Mb
Release : 2021-09-02
Category : Business & Economics
ISBN : 9783030813062

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Corporate Debt Restructuring in Emerging Markets by Richard Marney,Timothy Stubbs Pdf

Corporate debt restructurings in the emerging markets have always presented special challenges. Today, as the global economy emerges from the COVID-19 pandemic and businesses look to pick up the pieces, this is even more true. For many, the financial hangover of the lockdowns and market disruptions linger and threaten their independence, even their survival. This peril is more acute in the emerging and frontier markets. Weaker economic fundamentals and institutional resiliency often intensify the challenge to return to pre-COVID-19 operating levels and financial sustainability. In this context, borrowers invariably must address the imbalance of substantial existing debt with the “new reality” of their business operations and revenues. This book, using case studies, presents a full, detailed narrative of a fictitious troubled bank in an emerging market, with characters, dialogues, and negotiations. It also includes a series of discussion questions with suggested answers, to draw out key issues from the case. In doing so, this initial narrative offers a substantive analysis of the five main phases and principles of a restructuring: (1) pre-restructuring, (2) the decision to restructure, (3) the case set-up, (4) structuring and negotiation, and lastly (5) implementation. In each chapter, the book outlines the main elements of the phases and shows how the elements are applied in practice. The book also presents separate chapters on exogenous shocks (with a focus on the COVID-19 pandemic as an example of such shocks), macroeconomics, and legal issues present in cross-border restructurings. It will be of interest to the international professional financial and legal community, primarily junior-to mid-level financiers, business people, and lawyers.

Author : Thomas Kieselbach
Publisher : Unknown
Page : 271 pages
File Size : 46,7 Mb
Release : 2010
Category : Electronic
ISBN : 3866184980

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HIRES by Thomas Kieselbach Pdf

"Restructuring has become a daily practice in both private and public sectors in the EU. But often restructuring processes fail to produce the intended effects of secured or increased organizational profi tability. On the contrary restructuring puts the physical and psychosocial health of all organizational members at risk. To limit the risks of enterprise restructuring effectively, several groups of actors at the individual, enterprise and societal level have to collaborate towards the implementation of healthier change procedures and to create a "social convoy" in occupational transitions for workers affected by dismissal. The European Expert Group HIRES on Health in Restructuring was coordinated by Prof. Dr. Thomas Kieselbach from the University of Bremen and supported by DG Employment of the European Commission. It presented with its report a concise overview of the effects of enterprise restructuring and the social frameworks and change procedures that should be considered for "healthier restructuring". With its policy recommendations and the case studies of innovative approaches on a company and regional level the report addresses policy makers, governmental structures like labour inspectorates or federal institutes, unions, managers, occupational health and safety personnel, shareholders and workers alike. The public reception of the HIRES recommendations on Health in Restructuring was impressive all over Europe and across different institutions, stakeholders and professions. They were conceived before the economic crisis started but the development of the economies increased public awareness for the problems addressed in the HIRES report. It was disseminated on an international level within several scientifi c communities as well. The success of HIRES led to the follow-up project HIRES Plus". -- Publisher.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 40,6 Mb
Release : 2018
Category : Electronic
ISBN : 0993189768

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RISE OF PREVENTIVE RESTRUCTURING SCHEMES by Anonim Pdf

Author : Reinier Kraakman,John Armour,Paul Davies,Luca Enriques,Henry B. Hansmann,Gérard Hertig,Klaus J. Hopt,Hideki Kanda,Edward B. Rock
Publisher : OUP Oxford
Page : 578 pages
File Size : 46,9 Mb
Release : 2009-07-23
Category : Law
ISBN : 9780191582776

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The Anatomy of Corporate Law by Reinier Kraakman,John Armour,Paul Davies,Luca Enriques,Henry B. Hansmann,Gérard Hertig,Klaus J. Hopt,Hideki Kanda,Edward B. Rock Pdf

This is the long-awaited second edition of this highly regarded comparative overview of corporate law. This edition has been comprehensively updated to reflect profound changes in corporate law. It now includes consideration of additional matters such as the highly topical issue of enforcement in corporate law, and explores the continued convergence of corporate law across jurisdictions. The authors start from the premise that corporate (or company) law across jurisdictions addresses the same three basic agency problems: (1) the opportunism of managers vis-à-vis shareholders; (2) the opportunism of controlling shareholders vis-à-vis minority shareholders; and (3) the opportunism of shareholders as a class vis-à-vis other corporate constituencies, such as corporate creditors and employees. Every jurisdiction must address these problems in a variety of contexts, framed by the corporation's internal dynamics and its interactions with the product, labor, capital, and takeover markets. The authors' central claim, however, is that corporate (or company) forms are fundamentally similar and that, to a surprising degree, jurisdictions pick from among the same handful of legal strategies to address the three basic agency issues. This book explains in detail how (and why) the principal European jurisdictions, Japan, and the United States sometimes select identical legal strategies to address a given corporate law problem, and sometimes make divergent choices. After an introductory discussion of agency issues and legal strategies, the book addresses the basic governance structure of the corporation, including the powers of the board of directors and the shareholders meeting. It proceeds to creditor protection measures, related-party transactions, and fundamental corporate actions such as mergers and charter amendments. Finally, it concludes with an examination of friendly acquisitions, hostile takeovers, and the regulation of the capital markets.