LSN: Issues in Debtor-Creditor Relations (Topic)最新文献

Private Renegotiations and Government Interventions in Debt Chains 债务链中的私人重新谈判与政府干预

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2021-10-14 DOI: 10.2139/ssrn.3667071

Vincent Glode, C. Opp

引用次数: 4

Towards a More Robust Sovereign Debt Restructuring Architecture: Innovations from Ecuador and Argentina 迈向更稳健的主权债务重组架构:来自厄瓜多尔和阿根廷的创新

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2020-09-27 DOI: 10.1093/cmlj/kmaa032

I. Clark, D. Lyratzakis

{"title":"Towards a More Robust Sovereign Debt Restructuring Architecture: Innovations from Ecuador and Argentina","authors":"I. Clark, D. Lyratzakis","doi":"10.1093/cmlj/kmaa032","DOIUrl":"https://doi.org/10.1093/cmlj/kmaa032","url":null,"abstract":"The Collective Action Clauses published by the International Capital Markets Association in 2014/2015 aim to facilitate orderly and consensual sovereign debt restructurings. The clauses were designed to give sovereigns flexibility in structuring and consummating a transaction that would be capable of attracting broad creditor support, while safeguarding the integrity of the process and the rights of creditor minorities. The recent restructurings of Argentina and Ecuador presented the first opportunities for the ICMA CACs to be tested in practice, but the “re-designation” and “PAC-man” strategies first seen in the Argentine restructuring revealed shortcomings in the ICMA contractual architecture. \u0000 \u0000Argentina’s and Ecuador’s creditors responded by negotiating tailored refinements to the standard CACs that would mitigate the risk that a sovereign could compel a restructuring that is not supported by the requisite creditor supermajorities. The qualified restrictions on “re-designation” and “PAC-man” adopted by Ecuador and Argentina enhance the ICMA architecture and provide strong incentives for a sovereign to engage constructively with its private creditors in a consensus-building process that results in a restructuring proposal capable of achieving supermajority support.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130926323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Government and It's Directive - The COVID-19 Pandemic Effect 政府及其指令- COVID-19大流行的影响

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2020-07-23 DOI: 10.2139/ssrn.3659291

Niji Oni & Co

引用次数: 0

Report on the Builders Lien Act 建筑商留置权法案报告

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2020-06-24 DOI: 10.2139/ssrn.3654367

British Columbia Law Institute

{"title":"Report on the Builders Lien Act","authors":"British Columbia Law Institute","doi":"10.2139/ssrn.3654367","DOIUrl":"https://doi.org/10.2139/ssrn.3654367","url":null,"abstract":"British Columbia's Builders Lien Act may be somewhat more familiar to a wide cross-section of the working world than many other commercial statutes, but the complexities that arise in its application are proverbial. The purpose of the Act has been judicially characterized as being “to protect the claims of those who supply work and materials [to an improvement to land] so long as the owner is not prejudiced.” There is a fundamental tension between the two poles of this dual legislative purpose, and it gives rise to contradictory effects. For example, the Act provides contractors, subcontractors, and workers with highly valued extracontractual rights and remedies, but their use can result in the flow of payments down the chain of contracts and subcontracts being interrupted. This potentially leads to domino insolvencies, something that the Act was always intended to prevent. The Act lets owners limit their exposure to claims of unpaid subcontractors by means of a mandatory holdback, but the interest expense of maintaining an unnecessarily large holdback that accumulates in a project with a long construction schedule can become a problem in itself. The Report on the Builders Lien Act offers concrete, practical recommendations for reforms to address a host of problems surrounding the Act, including the ways in which it tends to operate counter-productively and the ways in which it is sometimes misused. Many of the 86 recommendations would also simplify the Act and clarify the meaning of the more problematic provisions. The report results from the first comprehensive, independent review of the present Builders Lien Act since its enactment in 1997. The recommendations are the product of lengthy deliberations by a highly experienced and knowledgeable Project Committee, and have been informed by broad stakeholder consultation.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"256 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115009338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Actio Pauliana And Divisions (IGI v Cicenia, C-394/18): Not Everything That Is Done, Is Well Done 保利亚纳的行动和分裂(IGI诉西塞尼亚，C-394/18):不是每件事都做得好

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2020-03-01 DOI: 10.2139/ssrn.3546781

N. de Luca

{"title":"Actio Pauliana And Divisions (IGI v Cicenia, C-394/18): Not Everything That Is Done, Is Well Done","authors":"N. de Luca","doi":"10.2139/ssrn.3546781","DOIUrl":"https://doi.org/10.2139/ssrn.3546781","url":null,"abstract":"With IGI v Cicenia C 394/18, a decision of Jan. 30th, 2020, the Court of Justice of the European Union has solved questions concerning an action to set aside a division (so-called actio pauliana). The Court holds that neither the objection possibility granted before the division is implemented, nor the rules establishing the cases in which “nullity” of a division may be declared preclude creditors from bringing an actio pauliana, in cases where this is appropriate. Indeed, such an action does not affect the validity of a division but merely allows for that division to be rendered unenforceable against the acting creditors. The note, after summarizing the facts, the background debate and the reasoning of the CJEU, marks that an actio pauliana is aimed at reversing the effects of the asset transfer, not at causing the recipient company to cease to exist. Also, it underlines that the joint and several liability of the recipient companies is not equivalent to an action to set aside the division. Unless EU law would not consider creditor protection and grant them at least the right to request adequate guarantees, in case the division affects them negatively.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"145 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132040599","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Purchase Money Security Interest Refinancing in New Zealand: A Case for Retention of Super-Priority 新西兰购买资金担保利息再融资:保留超级优先权的案例

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2019-09-02 DOI: 10.2139/ssrn.3588040

Arielle Tracey

引用次数: 0

Debt and Insolvency 债务及无力偿债

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2019-06-07 DOI: 10.2139/SSRN.3193138

J. B. Heaton

引用次数: 0

Buying Time: The Legal Case for Italy to Extend Maturities and Its Effective Advantages and Disadvantages 购买时间:意大利延期的法律案例及其有效利弊

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2019-04-14 DOI: 10.2139/SSRN.3371944

Matthew Cramer, Charlie Saad, B. Thorpe

{"title":"Buying Time: The Legal Case for Italy to Extend Maturities and Its Effective Advantages and Disadvantages","authors":"Matthew Cramer, Charlie Saad, B. Thorpe","doi":"10.2139/SSRN.3371944","DOIUrl":"https://doi.org/10.2139/SSRN.3371944","url":null,"abstract":"This paper argues that Italy possesses the right to unilaterally extend maturities on its outstanding local law bonds under an explicitly established provision of Italian law, putting it in a strong negotiating position with its creditors for a potential restructuring. It also examines the unique ways in which Italy is insulated from legal risk in the event creditors take action, particularly due to a lack of acceleration clauses in some (and possibly all) debt instruments. \u0000 \u0000Unilateral maturity extension would provide several benefits to Italy: first, maturity extensions, as opposed to principal haircuts, would mitigate the harm endured by Italy’s banking sector, which was a primary concern of the Edelen proposal and has grown even more important as Italy’s banking sector has only increased its exposure to Italian debt in recent years; second, Italy’s short-term debt obligations would be reduced, allowing the Italian government greater maneuverability in attempting to restart growth and adopt more reasonable fiscal policies; third, this proposal accomplishes the main objectives of a recovery while reducing legal risk, as it works within explicitly contemplated frameworks, without any ex post alterations or overly coercive and discriminatory measures. \u0000 \u0000Part I of this proposal discusses the background Italian situation with an eye on the law permitting a unilateral extension of maturities on some (if not all) of the local law issued debt instruments. Part II outlines how this maturity extension would affect both Pre-2013 and Post-2013 issued debt instruments based on the presence or absence of the ESM instituted Euro CACs. Part III discusses the synergy between maturity extension, and the remedies available to a potential litigious creditor as a result, particularly with respect to acceleration.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129588721","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Задржавање права својине у уговору о продаји (Retention of Title in the Contract of Sale) Задржавањеправасвојинеууговоруопродаји保留所有权(销售合同)

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2018-06-25 DOI: 10.2139/ssrn.3327742

Miloš Vukotić

{"title":"Задржавање права својине у уговору о продаји (Retention of Title in the Contract of Sale)","authors":"Miloš Vukotić","doi":"10.2139/ssrn.3327742","DOIUrl":"https://doi.org/10.2139/ssrn.3327742","url":null,"abstract":"Serbian Abstract: Задржавање права својине је посебна установа обезбеђења потраживања са битно различитим дејством од других обезбеђујућих права. Задржавање својине показује своје главне предности у извршном и стечајном поступку, када је оно једино обезбеђење које пружа јачу заштиту од заложног права. За добављаче и друге трговце, задржавање права својине је од великог значаја јер им само оно може обезбедити извесну сигурност наспрам приоритетних и по вредности обимних заложних права финансијских институција. English Abstract: Retention of title is a special type of security with effects that are significantly different from the effects of other security rights. Retention of title shows its main advantages in enforcement and bankruptcy proceedings, where it is the only security which provides stronger protection than a right of pledge. For distributors and other traders, retention of title is of great significance because it can give them an advantage over extensive secured rights of financial institutions.","PeriodicalId":269732,"journal":{"name":"LSN: Issues in Debtor-Creditor Relations (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125488251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Garnishee Proceedings and the Position of the Court in Nigeria: A Settled Law or Whirling Controversy? 尼日利亚Garnishee诉讼程序和法院的立场:一个既定的法律或旋转的争议?

LSN: Issues in Debtor-Creditor Relations (Topic) Pub Date : 2018-05-29 DOI: 10.2139/ssrn.3186411

D. Odumosu

引用次数: 0