{"title":"Spain","authors":"","doi":"10.1093/oso/9780198826521.003.0039","DOIUrl":"https://doi.org/10.1093/oso/9780198826521.003.0039","url":null,"abstract":"In our opinion, the three possible proceedings established by Spanish law (namely 5bis Notice, the Judicial Homologation Process and Out-of-Court Agreement) facilitate the resolution of the restructuring of assets and the financial distress of a business debtor, even in the pre-insolvency phase.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115321549","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}
{"title":"Germany","authors":"","doi":"10.1093/oso/9780198826521.003.0024","DOIUrl":"https://doi.org/10.1093/oso/9780198826521.003.0024","url":null,"abstract":"For instance: some jurisdictions have developed (e.g. through their Central Bank, or Banking Association) a framework for enabling restructuring negotiations to be conducted for debtors with exposure to multiple banks.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":" 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141221817","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}
{"title":"Glossary of Terms and Descriptions in Restructuring and Insolvency","authors":"","doi":"10.1093/oso/9780198826521.003.0003","DOIUrl":"https://doi.org/10.1093/oso/9780198826521.003.0003","url":null,"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.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":" 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141221811","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}
{"title":"Spain","authors":"","doi":"10.1093/oso/9780198826521.003.0038","DOIUrl":"https://doi.org/10.1093/oso/9780198826521.003.0038","url":null,"abstract":"There are a set of rules set forth in the Insolvency Act (‘Ley 22/2003, of 9 July, Concursal’ or ‘LC’) which purpose is to avoid that debtors file for formal insolvency proceedings. These rules aim to: (i) establish safe harbours for Refinancing Agreements (‘Acuerdos de refinanciación’); (ii) stay enforcement actions in the pre-insolvency stage; and (iii) allow cramming down secured and unsecured creditors in the pre-insolvency phase. Further there are some tax rules aimed to facilitate out-of-court and in-court workouts. However, there is no state agency, judge, court or tribunal that offers assistance in the negotiation of an out-of-court workout.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133289441","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}
{"title":"Business Rescue Recommendations","authors":"","doi":"10.1093/oso/9780198826521.003.0002","DOIUrl":"https://doi.org/10.1093/oso/9780198826521.003.0002","url":null,"abstract":"These recommendations are the result of a comparative and normative research, recorded in an Instrument, which has been developed under the auspices of the European Law Institute’s ‘Rescue of Business in Insolvency Law’ project (2014–2107), co-funded by the European Union, and drafted by Professor Dr em Bob Wessels, University of Leiden, the Netherlands, and Professor Dr Stephan Madaus, Martin Luther University Halle-Wittenberg, Germany.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123514346","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}
{"title":"Austria","authors":"William M. Barton, Martin M. Bauer, M. Korenjak","doi":"10.1787/9f152526-en","DOIUrl":"https://doi.org/10.1787/9f152526-en","url":null,"abstract":"Austrian insolvency law facilitates such restructurings as it enables the conclusion of a reorganisation plan already if the debtor is able to offer to the (unsecured) creditors to pay a quota of at least 20 per cent on their claims within two years after the reorganisation plan's approval. As a result of the reorganisation plan being approved by the required majority of creditors and confirmed by the insolvency court, the creditors forfeit any portion of their claims exceeding the agreed quota.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116776111","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}
{"title":"Belgium","authors":"Valérie Pattyn, Bart De Peuter","doi":"10.18356/e446c467-en","DOIUrl":"https://doi.org/10.18356/e446c467-en","url":null,"abstract":"Under strict conditions it is accepted that an insolvent company turns to a voluntary winding up proceeding in accordance with the general rules of the Belgian Companies Code in respect of dissolution and winding up of corporate entities (Articles 181-196 Companies Code). The Belgian Supreme Court (Cour de Cassation) has determined these conditions in several decisions.","PeriodicalId":366238,"journal":{"name":"Rescue of Business in Europe","volume":"12 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131897781","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}
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