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Author: Jay Lawrence Westbrook
Publisher: Martinus Nijhoff Publishers
ISBN: 9004180257
Category : Law
Languages : en
Pages : 319
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Book Description
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.
Author: Jay Lawrence Westbrook
Publisher: Martinus Nijhoff Publishers
ISBN: 9004180257
Category : Law
Languages : en
Pages : 319
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Book Description
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.
Author: Michael Tilbury
Publisher: Hong Kong University Press
ISBN: 9888208241
Category : Law
Languages : en
Pages : 293
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Book Description
As a special administrative region of China, Hong Kong has its own legal system rooted in the common law. Reforms to this system take into account Hong Kong’s unique conditions as an international city and draw widely on practices around the world. Since 1980, recommendations from a Law Reform Commission, chaired by the Secretary for Justice, have resulted in comprehensive revisions in key areas of law, ranging from commercial arbitration and interception of communications to divorce and copyright. Recently, however, the government has been slow to act on the Commission’s recommendations. Questions have also arisen about whether the Commission — under-resourced, part-time and government-led — can really meet the needs of an increasingly sophisticated society. Is law reform itself also in need of reform? This collection of essays by distinguished experts from around the world seeks answers to the question. The book explores the varied experience of law reform in Hong Kong and other common law jurisdictions and makes recommendations for strengthening the process of law reform both in Hong Kong and elsewhere. Michael Tilbury is Kerry Holdings Professor in Private Law in the Faculty of Law, the University of Hong Kong. Simon N. M. Young is a professor in the Faculty of Law, the University of Hong Kong and was formerly Director of the Centre for Comparative and Public Law. Ludwig Ng is a partner in ONC Lawyers, Hong Kong. "This important book should be a wake-up call to lawmakers in Hong Kong and beyond on the urgent need for effective law reform. It is especially important for Hong Kong whose competitive advantage is being harmed by institutional paralysis and official lethargy. The editors’ modest recommendations deserve urgent action by Hong Kong’s governors to bring up to date its archaic and outmoded legislation." —Lord Lester of Herne Hill, QC "Law reform is essential, especially in these fast-changing times. The law reform agency plays an important role in this process. This work examines the experience of the agency in Hong Kong and elsewhere and discusses how its effectiveness can be enhanced. This valuable contribution deserves to be read." —The Hon. Andrew Li, Chief Justice of Hong Kong, 1997–2010 "This is probably the first collection in Hong Kong of writings on law reform, examining clinically how law reform is, and can be processed with reference to other law reform institutions, in the pursuit of effectively meeting the often shifting needs of society and economy. Important chapters on reform of different areas of law are also included in this book. The editors and contributors are to be congratulated for masterminding such an admirable source of information and inspirational ideas." —Stephen Kai-yin Wong, Barrister, Secretary of the Law Reform Commission of Hong Kong "In this collection of essays the learned editors—Tilbury, Young and Ng—have drawn together an outstanding group of authors, representing many years of experience in law reform across the common law world. From the UK, Canada, Australia and Hong Kong, the insights of the authors are both reflective and forward-looking, providing a rich resource towards 'reforming law reform'." —Professor Rosalind Croucher, President, Australian Law Reform Commission
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557758200
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
Author: Vanessa Finch
Publisher: Cambridge University Press
ISBN: 9780521626859
Category : Business & Economics
Languages : en
Pages : 662
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Book Description
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.
Author: Wai Yee Wan
Publisher: Bloomsbury Publishing
ISBN: 1509952357
Category : Law
Languages : en
Pages : 379
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Book Description
This book provides an in-depth analysis of 4 economically significant Asian jurisdictions: Mainland China, India, Hong Kong and Singapore. These jurisdictions have recently either reformed – or are considering reforming – their corporate restructuring laws to promote regimes conducive to restructuring financially distressed, but otherwise economically viable, companies. Mainland China, India, Hong Kong and Singapore continue to adhere to a framework that requires the court's final approval but draw references from Chapter 11 of the Bankruptcy Code 1978 in the United States and/or the schemes of arrangement in the United Kingdom. However, the institutional and market structures are very different in Asia; in particular, Asia has a far higher concentration in shareholdings among listed firms, including holdings by families and the state, and a different composition of creditors. The book explains how, notwithstanding the legal transplantation, corporate restructuring laws in these Asian jurisdictions have adapted and evolved due to the frictions in shareholder-creditor and creditor-creditor relationships, and the role of the state in resolving non-performing loans and financial distress of state-owned enterprises which are listed, or which issue public debt. The study argues that any reforms must go beyond professionalising the insolvency professionals and the judiciary but must be designed to address fundamental issues of corporate governance, bank regulation and enforcing non-bankruptcy rules. It offers invaluable insights for academics and policy makers alike.
Author: Katarzyna Gromek Broc
Publisher:
ISBN: 9789041130310
Category :
Languages : en
Pages : 236
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Book Description
It is primarily to corporate rescue procedures and reforms adopted at the domestic level that this book is devoted. Individual chapters 'each written by an expert or team of experts from the country under scrutiny' consider recent developments and prospec.
Author: Jason Chuah
Publisher: Edward Elgar Publishing
ISBN: 178811552X
Category : Bankruptcy
Languages : en
Pages : 646
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Book Description
Executory Contracts in Insolvency Law offers a unique, comprehensive, and up-to-date transnational study of the topic, including an analysis of certain countries which have never previously been undertaken in English. Written by experts in the field, with extensive experience of both research and professional experience, this is a groundbreaking investigation into the philosophies and rationales behind the different policy choices adopted and implemented by a range of over 30 jurisdictions across the globe.
Author: Vanessa Finch
Publisher: Cambridge University Press
ISBN: 0521622565
Category : Business & Economics
Languages : en
Pages : 661
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Book Description
This interdisciplinary examination of corporate insolvency law assesses recent reforms and anticipates new legislation.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464811474
Category : Business & Economics
Languages : en
Pages : 1217
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Book Description
Fifteen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2018 measures aspects of regulation affecting 10 areas of everyday business activity: • Starting a business • Dealing with construction permits • Getting electricity • Registering property • Getting credit • Protecting minority investors • Paying taxes • Trading across borders • Enforcing contracts • Resolving insolvency These areas are included in the distance to frontier score and ease of doing business ranking. Doing Business also measures features of labor market regulation, which is not included in these two measures. The report updates all indicators as of June 1, 2017, ranks economies on their overall “ease of doing business†?, and analyzes reforms to business regulation †“ identifying which economies are strengthening their business environment the most. Doing Business illustrates how reforms in business regulations are being used to analyze economic outcomes for domestic entrepreneurs and for the wider economy. It is a flagship product produced in partnership by the World Bank Group that garners worldwide attention on regulatory barriers to entrepreneurship. More than 137 economies have used the Doing Business indicators to shape reform agendas and monitor improvements on the ground. In addition, the Doing Business data has generated over 2,182 articles in peer-reviewed academic journals since its inception. Data Notes; Distance to Frontier and Ease of Doing Business Ranking; and Summaries of Doing Business Reforms in 2016/17 can be downloaded separately from the Doing Business website.
Author: M. Ayhan Kose
Publisher: World Bank Publications
ISBN: 1464815453
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
