Glossary of Terms and Descriptions in Restructuring and Insolvency

Abstract

Many states and regional public institutions, international non-governmental organisations, and practitioners’ associations all over the world have produced many laws, regulations, principles, guidelines, and statements of best practices. All these forms of expressions aim for the better coordination of restructuring and insolvency measures or proceedings concerning economic enterprises which have operations, assets, activities, debtors, or creditors in more than one state. In several instances these laws, regulations, and principles provide for a list of definitions or terms, employed frequently within the legal context within which they function. This Glossary aims to further develop a European legal terminology, based on recent efforts to develop an uniform global legal terminology and therefore to assist legislators, insolvency practitioners, and courts in their efforts of improving the components of their respective languages to facilitate and smoothen cross-border communication and coordination. Legislators may find this appendix helpful in their efforts of creating or amending domestic rules relating to international insolvency or in efforts of approximation or harmonisation of domestic laws and regulations.