Author: Ole Kramp
Publisher: GRIN Verlag
ISBN: 3640272609
Category : Law
Languages : en
Pages : 72
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Book Description
Scientific Essay from the year 2008 in the subject Law - Comparative Legal Systems, Comparative Law, grade: High Distinction, The University of Adelaide, language: English, abstract: A Corporate rescue Generally speaking, the corporate rescue process and the liquidation procedure form the two basic columns of a modern insolvency regime.(2) Whereas the Australian legislator expressly implemented these two procedures the German legislator codified a uniform insolvency process. An effective corporate rescue procedure is a cornerstone of a prospering economy. Economical value is closely connected to the risk of economic loss. Therefore, economic growth will only be sustainable if investments are supported by safeguards donated by effective insolvency regimes not only focussing on a fast liquidation but also on the reorganisation or rescue of a company. Only the careful balance of creditors’ rights and the entrepreneurial spirit of the debtors ensure attractiveness for investments.(3) B Comparative approach This essay is focussed on the administrator as point of comparison because his role in the process significantly reflects the principles of the underlying corporate rescue regime. In both countries Australia and Germany the administrator is a relatively influential organ. The essay will show that the role of the German administrator is much more influenced by the court than in Australia. The essay’s goal is to examine selected issues concerning the Australian and German administrator. After presenting the different roles in the Australian and German corporate rescue process the essay will critically review the role of the administrator in both regimes in order to examine the effectiveness of the process from a comparative point of view. ********* (2) See United Nations Commission on International Trade Law, Legislative Guide on Insolvency Law (2005) 14, recommendation 2. (3) United Nations Commission on International Trade Law, see above n 1, 11.
Author: Gerard McCormack
Publisher: Edward Elgar Publishing
ISBN: 1848445105
Category : Law
Languages : en
Pages : 331
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Book Description
. . . a highly readable and informative text and an excellent addition to insolvency scholarship. . . In their entirety, the chapters of Corporate Rescue Law An Anglo-American Perspective represent one of the most incisive and relevant treatments of comparative insolvency regimes to date. . . This book is an absolute boon: it provides the reader with a mass of legal and practical insights into the workings of two ostensibly divergent systems and challenges received wisdom in a fluent and persuasive manner. Not only are legal differences examined through the lens of practice, but also commercial, philosophical and social responses to failure are considered and highlighted as possible drivers of those real distinctions that do exist. Professor McCormack has produced an exceptional work that should be required reading for academics, practitioners and policy makers alike, and is to be warmly congratulated. Sandra Frisby, Banking and Finance Law Review The issues are well chosen. They are easily the most important aspects of any corporate rescue law. The careful analysis of the technical provisions, the incorporation of the extensive scholarship on the two corporate rescue regimes and the reference to practice in the real world all help to make these chapters an indispensable tool for any scholar wishing to gain a better understanding of the similarities and differences of English and American corporate rescue laws. . . This monograph could not have come at a better time. . . The comparative account in this book will help law reformers, judges and scholars to have a better grasp of the issues and appreciate better how the two systems have dealt with them. . . Comparative law has a critical role to play in promoting mutual understanding and respect. It is hoped that this monograph will help in that respect. Wee Meng Seng, Singapore Journal of Legal Studies This book offers an unprecedented and detailed comparative critique of Anglo-American corporate bankruptcy law. It challenges the standard characterisation that US law in the sphere of corporate bankruptcy is pro-debtor and UK law is pro-creditor , and suggests that the traditional thesis is, at best, a potentially misleading over-simplification. Gerard McCormack offers the conclusion that there is functional convergence in practice, while acknowledging that corporate rescue, as distinct from business rescue, still plays a larger role in the US. The focus is on corporate restructurings with in-depth scrutiny of Chapter 11 of the US Bankruptcy Code and the UK Enterprise Act, and offers other comparative oversights. Integrating theoretical and practical insights, this book will be of great interest to academics and practitioners, and also to policymakers in the DTI, Insolvency Service and regulatory bodies.
Author: Vanessa Finch
Publisher: Cambridge University Press
ISBN: 1107039916
Category : Business & Economics
Languages : en
Pages : 839
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Book Description
A new and substantially revised edition which looks critically at the broad effect and conceptual underpinnings of corporate insolvency law.
Author: John M. Wood
Publisher: Edward Elgar Publishing
ISBN: 1839101407
Category : Law
Languages : en
Pages : 253
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Book Description
This incisive book critically explores the principles, purpose and application of corporate rescue in order to bring new significance to rescue theory. Responding to key legislative developments and recent case law, it examines major insolvency theories and establishes which theoretical principles are prominently applied in practice, and whether these principles have affected the drivers of policy consideration.
Author: Jeannette Abel
Publisher: Taylor & Francis
ISBN: 1000458555
Category : Business & Economics
Languages : en
Pages : 380
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Book Description
The insolvency of states is by no means a rare or new phenomenon. Despite this, it still seems to be widely felt that states do not go bankrupt. As of yet, there are no regulated insolvency proceedings for states. This book examines the current mechanisms for solving sovereign debt crises. It presents an analysis of their weaknesses and shows possibilities for dealing with such crises in the future. In this respect, the work focusses on crisis resolution measures at European level: the aid packages for Greece, the European Financial Stabilisation Mechanism, the European Financial Stabilisation Facility and the European Stability Mechanism. These are examined for their appropriateness as well as whether they contain elements of insolvency law. Ultimately, it explores possible insolvency proceedings for states at EU level and their implementation options.
Author: Fiona Tolmie
Publisher: Routledge
ISBN: 1135336237
Category : Law
Languages : en
Pages : 504
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Book Description
First published in 2003. Routledge is an imprint of Taylor & Francis, an informa company.
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: 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: 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: Greg N. Gregoriou
Publisher: CRC Press
ISBN: 1439804508
Category : Business & Economics
Languages : en
Pages : 870
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Book Description
Although emerging market economies consist of 50% of the global population, they are relatively unknown. Filling this knowledge gap, Emerging Markets: Performance, Analysis and Innovation compiles the latest research by noteworthy academics and money managers from around the world. With a focus on both traditional emerging markets and new areas, su
