Principles of International Insolvency

Author: Philip R. Wood

Publisher: Sweet & Maxwell

ISBN: 1847032109

Category: Bankruptcy

Page: 1064

View: 2242

This title covers the essentials of international insolvency with a very practical slant, providing the reader with a comparative overview of insolvency law and practice in the key jurisdictions of the world. The intention is to illustrate how the concepts and analyses raised throughout "The Law and Practice of International Finance" series may be applied in a real world setting
Posted in Bankruptcy

International Bankruptcy

The Challenge of Insolvency in a Global Economy

Author: Jodie Adams Kirshner

Publisher: University of Chicago Press

ISBN: 022653202X

Category: Law

Page: 288

View: 4284

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.
Posted in Law

International Insolvency Law

National Laws and International Texts

Author: Elina Moustaira

Publisher: Springer

ISBN: 3030044505

Category: Law

Page: 155

View: 6390

This book presents problems that often arise in the context of international/cross-border insolvencies; analyzes and compares national legislations and jurisprudence; elucidates the solutions offered by international/regional instruments; and explores the differences in the implementation of these instruments by various countries and the consequences of these differences. It examines in detail a number of famous and less famous cases tried by national courts, in which it became readily apparent that insolvency law remains one of the bastions of national law. In addition, the book discusses the notion of transplanting foreign [international] insolvency rules and especially the influence that US insolvency law has exerted on other countries’ insolvency [and international insolvency] law. Far from adopting an unrealistically optimistic stance, it soberly examines the complications of cross-border insolvencies, while also presenting potential solutions.
Posted in Law

International Cooperation in Bankruptcy and Insolvency Matters

Author: B. Wessels,Bruce A. Markell,Jason J. Kilborn

Publisher: Oxford University Press

ISBN: 0195340175

Category: Law

Page: 268

View: 5262

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.
Posted in Law

International Insolvency Law

Themes and Perspectives

Author: Paul Omar

Publisher: Routledge

ISBN: 1317114108

Category: Law

Page: 452

View: 8454

International insolvency is a newly-established branch of the study of insolvency that owes much to the phenomenon of cross-border incorporations and the conduct of business in more than one jurisdiction. It is largely the offspring of globalization and involves looking at both law and economic rules. This book is a compendium of essays by eminent academics and practitioners in the field who trace the development of the subject, give an account of the influences of economics, legal history and private international law, and chart its relationship with finance and security issues as well as the importance of business rescue as a phenomenon. Furthermore, the essays examine how international instruments introduced in recent years function as well as how the subject itself is continually being innovated by being confronted by the challenges of other areas of law with which it becomes entangled.
Posted in Law

International Insolvency

Jurisdictional Comparisons

Author: J. William Boone

Publisher: Sweet & Maxwell

ISBN: 9780414026940

Category: Bankruptcy

Page: 439

View: 5564

'International Insolvency' is a reference guide for companies and legal professionals working in an increasingly globalized economy. This title offers insights into the insolvency laws of 25 major worldwide jurisdictions, as well as providing overviews of insolvency proceedings in each jurisdiction.
Posted in Bankruptcy

International Insolvency Law

Reforms and Challenges

Author: Professor Paul Omar

Publisher: Ashgate Publishing, Ltd.

ISBN: 1409466671

Category: Law

Page: 478

View: 1314

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.
Posted in Law

Conflicts of Law: International And Interstate

Selected Essays

Author: N.A

Publisher: Martinus Nijhoff Publishers

ISBN: 9024712122

Category: Law

Page: 403

View: 3872

This book is an in-depth, comparative study of the nature of civil & commercial law & of its development in the PRC. It focuses on the very complex interrelations & interactions between Party & state policies & measures, scholars' theoretical efforts & the development of civil & commercial law, especially the development of the institutions of legal personality & of property rights in the PRC. It also analyses the underlying influences of foreign legal systems & legal theories as well as the difficulties experienced by Chinese law makers & scholars in applying these theories. The book provides fresh insights into the role of law & the transformation of Chinese civil & commercial law, as now occurring in the PRC. The book is a valuable reference source for scholars who wish to explore the fascinating subject of the transformation of civil & commercial law in contemporary China.
Posted in Law

International Aspects of Bankruptcy

Explanatory Report on the Istanbul Convention (5 June 1990)

Author: N.A

Publisher: Council of Europe

ISBN: 9789287119148

Category: Law

Page: 63

View: 1317

Posted in Law

Bankruptcy Procedures for Sovereigns

A History of Ideas, 1976-2001

Author: Mr. Jeromin Zettelmeyer,Mr. Kenneth Rogoff

Publisher: International Monetary Fund

ISBN: 1451900724

Category: Business & Economics

Page: 46

View: 2565

This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger''s (2001) proposed "Sovereign Debt-Restructuring Mechanism," with brief reference to the economics literature on sovereign debt. We describe the perceived inefficiencies that motivate proposals, and how proposals seek to change debtor and creditor incentives. We find that there has been a moving concensus on what constitutes the underlying problem, but not on how to fix it. The range of proposed approaches remains broad and only recently shows some signs of narrowing.
Posted in Business & Economics

International Financial System

Policy and Regulation

Author: Ross P. Buckley

Publisher: Kluwer Law International B.V.

ISBN: 9041128689

Category: Law

Page: 193

View: 7202

Provides deep analyses of some of the devastating financial crises of the last quarter-centures by showing how such factors as the origins and destinations of loans, bank behaviour, bad timing, ignorance of history, trade regimes, capital flight, and corruption coalesce under certain circumstances to trigger a financial crash.
Posted in Law

Principles of Corporate Insolvency Law

Author: Roy Goode,Royston Miles Goode

Publisher: Sweet & Maxwell

ISBN: 0421966106

Category: Bankruptcy

Page: 1081

View: 367

Principles of Insolvency Law is widely regarded as 'the' text on Insolvency law. Professor Sir Roy Goode's reputation as the "doyen of commercial law" has established a unique position for the Work as a leading authority in the field. The book provides a clear and concise treatment of the general philosophical principles underpinning Insolvency law. It works as an introduction to this complex area and as such it has a broad market, ranging from students and newly qualified practitioners to barristers in Court.
Posted in Bankruptcy

The Renovation of International Law

On the Basis of a Juridical Community of Mankind

Author: D. Josephus Jitta

Publisher: Springer Science & Business Media

ISBN: 9401510199

Category: Law

Page: 196

View: 6132

I have written my work during THE WAR. The idea of acoJ1ectivity of the States is interwoven allthrough my work, but, of course, the pro ject of a League of nations, which has been elaborated during the armi stice, could not be taken into consideration. This is, moreover, a subject matter which can only be dealt with, in an experimental way, in future times. Besides, I dare say that my work does not fall short with regard to the plans of the day; so far as the juridical community of mankind is concerned, it is even ahead of its time. MARCH, 1919. JITTA. CONTENTS CHAPTER I. OBJECT AND SCHEME OF THE WORK. page My object. Mankind as a community de facto. Mankind as a juridical community. The unity of international law. Scheme of the system. The positive rules of the law of war. The egotism of the States. The burden of the subject-matter. The causticity of some of the materials. The use of a language. CHAPTER II. THE SYSTEM. FIRST PART. Public International Law. First Section. THE GENERAL DIRECTION OF PUBLIC AFFAIRS. {sect} I. The Sovereignty of the State and the Sovereignty of Mankind. 7 The sovereignty of the State. The qualifications to be given to the sovereignty of the State according to reasonable principles. The qualifications of the sovereignty in positive law. The religious and patriotic impediments of the evolution of positive law, as to so vereignty.
Posted in Law

A Global View of Business Insolvency Systems

Author: Jay Lawrence Westbrook

Publisher: Martinus Nijhoff Publishers

ISBN: 9004180257

Category: Law

Page: 300

View: 589

We live in an age of economic turmoil. The recent crises emphasize the need for modern, sophisticated rules to govern businesses in financial distress in order to realize value from distressed companies and to protect economic institutions. This book provides information for legislators, policymakers, lawyers, accountants, academics, and administrators who seek to understand the workings of insolvency laws. Guided by the World Bank’s Principles and Guidelines, it supplements the work in this field done by UNCITRAL.
Posted in Law

Fixing Financial Crises in the Twenty-first Century

Author: Andrew G. Haldane

Publisher: Psychology Press

ISBN: 9780415327602

Category: Business & Economics

Page: 348

View: 2720

Financial crises have dogged the international monetary system over recent years. They have impoverished millions of people around the world, especially within developing countries. And they have called into question the very process of globalization. Yet there remains no intellectual consensus on how best to avert such crises, much less resolve them. Policymakers stand at a cross-roads. This volume summarises and evaluates these issues, drawing on contributions by prominent international experts in the field.
Posted in Business & Economics

Early Ideas on Sovereign Bankruptcy Reorganization: A Survey

Author: Kenneth Rogoff,Jeromin Zettelmeyer

Publisher: International Monetary Fund


Category: Bankruptcy

Page: 18

View: 1818

This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief reference to the formal economics literature on sovereign debt. Beginning with a paper by Oechsli (1981), several key contributions are made during this period, including the analogy with domestic bankruptcy procedures, an understanding of the inefficiencies in international lending that might justify such procedures, and specific institutional and legal suggestions that continue to play a role in the current debate.
Posted in Bankruptcy

International Versus Domestic Auditing of Bank Solvency

Author: Mr. Andrew Feltenstein,Roger Dean Lagunoff

Publisher: International Monetary Fund

ISBN: 1451905041

Category: Business & Economics

Page: 29

View: 9623

This paper examines alternative ways to prevent losses from bank insolvencies. It is widely viewed that transparency in reporting bank balance sheets is a key element in reducing such losses. It is, however, unclear just how such transparency would be achieved. Current approaches to avoiding insolvencies generally involve international enforcement mechanisms. Among these are the sovereign debt restructuring mechanism (SDRM), and, more generally, an international bankruptcy court. We develop a model that compares two alternative institutions for bank auditing. Neither of these institutions would require as much enforcement capability as an international bankruptcy court, hence they would be easier to introduce. The first of these is a system of central bank auditing of national banks. The second type of auditing is carried out by an international agency that collects risk information on banks in all countries and then provides it to depositors. Using a game-theoretic approach, we compare the informativeness of the disclosure rule in the symmetric Perfect Bayesian equilibrium in each of the two different auditing institutions. We show that the international auditor generally performs at least as well, and sometimes better than, auditing by either central banks, which, in turn, perform better than voluntary disclosure by the banks themselves. The results do not assume any informational advantages of the international auditor, nor is the international auditor somehow less "corrupt" than the central banks. Rather, the international auditor''s credibility comes from the simple fact that its incentives are not distorted by a sovereignty bias that plagues the central banks.
Posted in Business & Economics