Forum Shopping In Insolvency Law
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Forum Shopping In Insolvency Law
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Author : Amir Adl Rudbordeh
language : en
Publisher:
Release Date : 2016
Forum Shopping In Insolvency Law written by Amir Adl Rudbordeh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Insolvency Forum Shopping Revisited
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Author : Wolf-Georg Ringe
language : en
Publisher:
Release Date : 2017
Insolvency Forum Shopping Revisited written by Wolf-Georg Ringe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
The phenomenon of forum shopping in insolvency situations has long troubled policy makers and scholars alike. Forum shopping describes the situation where a debtor engages in regulatory arbitrage by modifying certain criteria that allow them to benefit from a different, more favourable insolvency law or jurisdiction. The European Insolvency Regulation, an instrument determining the competent courts and the applicable law in cross-border insolvency proceedings, has long sought to curb such efforts. A major reform adopted in 2015 has the specific objective of further restricting abusive versions of forum shopping, in particular by introducing a 'suspension period' for forum shopping activities carried out shortly before the debtor files for insolvency. This article demonstrates that these efforts fail to achieve a satisfactory response to forum shopping. Further, forum shopping with use of an English scheme of arrangement remains entirely outside the Regulation's scope.
International Insolvency Law
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Author : Elina Moustaira
language : en
Publisher: Springer
Release Date : 2018-12-31
International Insolvency Law written by Elina Moustaira and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-31 with Law categories.
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.
Forum Shopping Under The Eu Insolvency Regulation
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Author : Wolf-Georg Ringe
language : en
Publisher:
Release Date : 2010
Forum Shopping Under The Eu Insolvency Regulation written by Wolf-Georg Ringe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Cross-border forum shopping for the benefit of a different insolvency law regime has become popular within the European Union in recent years. Yet legislators, courts and legal scholarship react with suspicion when debtors cross the border only to profit from a different insolvency law system. The most prominent legal tool, the European Insolvency Regulation, is based on the assumption that forum shopping is bad for the functioning of the European Internal Market.This paper questions the hostile attitude towards the phenomenon of forum shopping. It is argued that forum shopping can have beneficial effects both for the company and for its creditors, and that strong safeguards for creditors who oppose the migration are in place. Furthermore, the validity of the COMI approach of the Regulation under the fundamental freedoms of the Treaty is questioned; it is suggested that the current regime needs to be amended. The proposed new system would enable more corporate mobility within the European Union and create more legal certainty for all constituencies at the same time.
The Enduring Forum Shopping Phenomenon
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Author : Victoria Cebotari
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2014-07-03
The Enduring Forum Shopping Phenomenon written by Victoria Cebotari and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-03 with categories.
One of the most contentious issues in cross-border insolvency is the 'forum shopping' phenomenon. The European Insolvency Regulation has set as one of its core objectives to avoid forum shopping. Nevertheless, the phenomenon continues to flourish due to the ability of a debtor to transfer its 'Centre of Main Interests'. This strategy has been creatively used by companies and over-indebted individuals in order to avail themselves of more advantageous insolvency regimes. Such practice, however, is viewed with suspicion by media and legal practitioners. This study questions the adverse reaction towards forum shopping. It argues that forum shopping is not always undesirable, but can also have beneficial effects when is undertaken with the consent of the stakeholders involved. It concludes that as long as disparities between insolvency laws exist the phenomenon is destined to endure.
Comparative Insolvency Law
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Author : Bo Xie
language : en
Publisher: Edward Elgar Publishing
Release Date : 2016-11-25
Comparative Insolvency Law written by Bo Xie and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-25 with Law categories.
Comparative Insolvency Law argues that the most important development in contemporary insolvency law and practice is the shift towards a rescue culture rather than full creditor satisfaction. This book is the first to specifically examine the rise of the pre-pack approach, which permits debtor companies to formulate a clear pre-arranged exit before entering into formal insolvency proceedings.
Freedom Of Establishment And Private International Law For Corporations
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Author : Paschalis Paschalidis
language : en
Publisher: OUP Oxford
Release Date : 2012-03-29
Freedom Of Establishment And Private International Law For Corporations written by Paschalis Paschalidis and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-29 with Law categories.
Freedom of establishment is one of the four fundamental freedoms of the European Union. The principle is that natural persons who are European Union Citizens, and legal entities formed in accordance with the law of a Member State and having its registered office, central administration or principal place of business within the EU, may take up economic activity in any Member State in a stable and continuous form regardless of nationality or mode of incorporation. This book examines the way in which EU law has influenced how national courts in Europe assert jurisdiction in cross-border corporate disputes and insolvencies, and the mechanism which allows them to decide which national law should apply to the substance of the dispute. The book also considers the potential for EU Member States to compete for devising national corporate and insolvency legislation that will attract incorporations or insolvencies. Central to the book is the concept of national choice of law. In considering the impact of freedom of establishment on private international law for corporations, the book uniquely analyses both corporate and insolvency law together, presenting the topic in the broadest possible sense. Importantly, the doctrine of abuse in corporate and insolvency law is covered, raising the question of 'forum shopping' and regulatory competition which underpins the intersection between freedom of establishment and private international law. Through examination of the most recent and leading judgments of the European Court of Justice in Centros and Cadbury Schweppes, the book derives certain conclusions as to the operation of the doctrine of abuse and the limits thereof in the context of freedom of establishment. Being the first in the field to examine the leading ECJ cases of Inspire Art, Sevic and Cartesio regarding the real seat doctrine, the book makes the judgment that there is no incompatibility as such between the doctrine and the freedom of establishment. Ultimately, the book analyses to what extent diversity in the corporate and insolvency laws of the Member States should be preserved, so as to encourage competition between jurisdictions in Europe.
The Possibility Of Forum Shopping In European Insolvency Proceedings
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Author : Leonidas-Stasis Theodosiou
language : en
Publisher:
Release Date : 2013
The Possibility Of Forum Shopping In European Insolvency Proceedings written by Leonidas-Stasis Theodosiou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The Law Of International Insolvencies And Debt Restructurings
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Author : James R. Silkenat (jurist.)
language : en
Publisher:
Release Date : 2006
The Law Of International Insolvencies And Debt Restructurings written by James R. Silkenat (jurist.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
During the past several years, there have been an unprecedented number of insolvencies and restructurings of multinational corporations, both inside and outside of traditional bankruptcy proceedings. The Law of International Insolvencies and Debt Restructurings is the first treatise to analyze the newly created doctrines of law and procedure that have developed as insolvencies and restructurings have become increasingly international in character and now frequently involve the laws of numerous jurisdictions. Leading attorneys address developments in bankruptcy and insolvency laws in the countries that have become the focal points for legal proceedings, including the United States, Mexico, England, Spain, Italy, Argentina, Brazil, China, France, Japan, and Canada. Essential topics in the law of international restructuring and insolvency are also explored in depth, including national legislation and procedures, treaties and cooperation agreements, sovereign debt litigation, and inter-creditor relationships. Coverage includes: - Methods of restructuring multinational corporate and sovereign debt - Judicial bankruptcy proceedings - Rights of creditors - Jurisdiction and venue - European Council Regulations - Choice of Law - Dispute resolution - Access by foreign parties to U.S. bankruptcy courts
Current Issues In European Financial And Insolvency Law
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Author : Wolf-Georg Ringe
language : en
Publisher: Bloomsbury Publishing
Release Date : 2009-06-02
Current Issues In European Financial And Insolvency Law written by Wolf-Georg Ringe and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-02 with Law categories.
Recent case-law and legislation in European company and insolvency law have significantly furthered the integration of European business regulation. In particular, the case-law of the European Court of Justice and the introduction of the EU Insolvency Regulation have provided the stimulus for current reforms in various jurisdictions in the fields of insolvency and financial law. The UK, for instance, has adopted the Enterprise Act in 2002, designed, inter alia, to enhance enterprise and to strengthen the UK's approach to bankruptcy and corporate rescue. In a similar vein, a recent reform in France has modernised French insolvency law and even introduced a tool similar to the successful English 'company voluntary arrangement' (CVA). This book provides a collection of studies by some of the leading English and French experts today, analysing current perspectives of insolvency and financial law in Europe, both on the national as well as on the European level.
