International Insolvency Review最新文献

Navigating the evolving seas of cross-border insolvency: The shift towards COMI and the Model Law approach in Hong Kong; Re Global Brands Group Holding Ltd (In Liquidation) [2022] 3 HKLRD 316 (Coram Harris J) [case comment] 在不断演变的跨国界破产海洋中航行：向主要利益中心的转变和香港的《示范法》方法；关于 Global Brands Group Holding Ltd（清算中）[2022] 3 HKLRD 316（Coram Harris J）[案例评论］

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-27 DOI: 10.1002/iir.1551

Alric Wong

引用次数: 0

The purpose of directors' duties in the insolvency context: A critical assessment based on empirical data from Austria and Netherlands 破产情况下董事职责的目的：基于奥地利和荷兰经验数据的批判性评估

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-19 DOI: 10.1002/iir.1555

Jessie Pool, Georg Wabl

引用次数: 0

Legislative developments in personal insolvency in China’s mainland: A comparative analysis of regional practices in China’s mainland, Hong Kong, and Taiwan Region 中国大陆个人破产的立法发展：中国大陆、香港和台湾地区实践的比较分析

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-07 DOI: 10.1002/iir.1553

Pin Liu

引用次数: 0

Retail company voluntary arrangements: A dubious remedy? 零售公司自愿安排：可疑的补救措施？

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-05 DOI: 10.1002/iir.1547

Grazyna Aleksandra Wiejak-Roy, Jessica Lamond

{"title":"Retail company voluntary arrangements: A dubious remedy?","authors":"Grazyna Aleksandra Wiejak-Roy, Jessica Lamond","doi":"10.1002/iir.1547","DOIUrl":"https://doi.org/10.1002/iir.1547","url":null,"abstract":"Despite much debate on Company Voluntary Arrangements (CVA) among UK retailers, understanding of retail CVAs remains limited. There is continuing uncertainty about the uptake of CVAs, what aspects lead to successful outcomes and whether CVAs can be viewed as a remedy for struggling UK retailers. To address these questions, we developed and analysed a novel and detailed dataset of Companies House records for the population of retailers' CVAs between mid-2012 and early 2021. We find that CVAs, despite detrimental impacts on other actors (landlords and suppliers), can be a useful tool for some retailers in adjusting to the new market conditions. The uptake of CVAs among retailers is stable, though not among large retailers. Retail CVAs help to avoid immediate business failure, but we found limited evidence of the success and efficient longer term outcome of the procedure, suggesting that alternative methods could be considered. The success and efficiency of CVA do not seem to depend on the size of the business, but there are variations in both the uptake and efficiency of CVAs across retail sub-sectors. This suggests that a range of mechanisms are required to cater to the different needs across retail categories. Despite the market challenges, CVAs are not prolonged on average. However, longer duration CVAs seem to have a lower chance of succeeding and of being efficient implying that CVA cannot remedy fundamental business issues. Finally, we observed differences related to who oversees the procedure, suggesting that greater emphasis should be put on upskilling and selection of insolvency practitioners.","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"33 3","pages":"421-447"},"PeriodicalIF":0.5,"publicationDate":"2024-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/iir.1547","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142664621","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Tensions between sanctions and insolvency law: Searching for a model solution with a focus on the European Union and Poland 制裁与破产法之间的紧张关系：以欧洲联盟和波兰为重点，寻求示范解决方案

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-05 DOI: 10.1002/iir.1552

Christoph Paulus, Anna Hrycaj, Patryk Filipiak, Bartosz Sierakowski

{"title":"Tensions between sanctions and insolvency law: Searching for a model solution with a focus on the European Union and Poland","authors":"Christoph Paulus, Anna Hrycaj, Patryk Filipiak, Bartosz Sierakowski","doi":"10.1002/iir.1552","DOIUrl":"https://doi.org/10.1002/iir.1552","url":null,"abstract":"This article explores the conflict between insolvency law and sanctions law, particularly in the context of European responses to Russia's invasion of Ukraine. Historically, conflicts between legal systems have shaped laws, and modern insolvency law continues this struggle by determining creditor priorities in cases where debtors cannot fully satisfy them. The article highlights how recent sanctions, which freeze assets to restrict the economic activities of sanctioned individuals and entities, complicate insolvency proceedings. The European Union, along with Poland, has imposed unprecedented sanctions on Russia, including bans on transactions, asset freezes, and trade restrictions. These sanctions, while aimed at political objectives, often push businesses into insolvency by preventing access to resources. Case studies such as GoSport in Poland, Amsterdam Trade Bank in the Netherlands, and Fortenova in Croatia demonstrate the complexities that arise when businesses linked to sanctioned entities become insolvent. Key issues include the legal treatment of frozen assets, creditor satisfaction, and the potential for sanctioned entities to benefit from bankruptcy proceedings. Poland has revised its sanctions law, introducing provisions for the appointment of independent managers to oversee sanctioned companies, ensuring continued operations without benefiting sanctioned owners. However, uncertainty remains over the management and distribution of frozen assets, with no clear framework in place. The article concludes that insolvency and sanctions law, though often in conflict, must be applied flexibly to address individual cases. A balanced approach is needed to protect creditors while adhering to the political and legal objectives of sanctions.","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"33 3","pages":"448-472"},"PeriodicalIF":0.5,"publicationDate":"2024-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142664622","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Guest editorial: The interaction between US bankruptcy law and European insolvency Laws (some thoughts on the 45th anniversary of the US bankruptcy code) 特邀社论：美国破产法与欧洲破产法之间的互动（关于美国破产法 45 周年的一些想法）

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-04 DOI: 10.1002/iir.1550

Catarina Serra

引用次数: 0

Canadian cross-border insolvency law and the triumph of “modified universalism”: A retrospective 加拿大跨国界破产法和 "经修改的普遍主义 "的胜利：回顾

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-03 DOI: 10.1002/iir.1549

Alfonso Nocilla

{"title":"Canadian cross-border insolvency law and the triumph of “modified universalism”: A retrospective","authors":"Alfonso Nocilla","doi":"10.1002/iir.1549","DOIUrl":"https://doi.org/10.1002/iir.1549","url":null,"abstract":"“This article examines the implementation of the Model Law on Cross-Border Insolvency in Canada and the evolution of the concept of “modified universalism”. In particular, the article argues that Canadian courts have developed an expansive view of modified universalism, based upon a liberal and purposive interpretive approach, that prioritizes cooperation and coordination with foreign courts to the greatest possible extent. This expansive view of modified universalism began developing in the jurisprudence long before Canada adopted the Model Law in 2009. Although this evolution was not entirely without controversy, since 2009 the law has continued to develop along the same lines. Thus, the Canadian experience illustrates the important role played by the courts in laying the groundwork for the successful adoption and implementation of the Model Law. This can be contrasted with the more restrictive approaches taken by courts in certain other jurisdictions. At the same time, the article also highlights the conceptual indeterminacy of modified universalism, suggesting that more work is needed to fill gaps and resolve inconsistencies that may hamper the law's further development.","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"33 3","pages":"399-420"},"PeriodicalIF":0.5,"publicationDate":"2024-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/iir.1549","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142664626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Creditors' treatment under the new Italian “Concordato Preventivo” and directive (EU) 2019/1023: A comparison with chapter 11 意大利新 "Concordato Preventivo "和（欧盟）第 2019/1023 号指令下的债权人待遇：与第 11 章的比较

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-02 DOI: 10.1002/iir.1548

Federico Pappalettera

{"title":"Creditors' treatment under the new Italian “Concordato Preventivo” and directive (EU) 2019/1023: A comparison with chapter 11","authors":"Federico Pappalettera","doi":"10.1002/iir.1548","DOIUrl":"https://doi.org/10.1002/iir.1548","url":null,"abstract":"This article compares the treatment of creditors in Italy under the “new” judicial composition with creditors (CWC) (“concordato preventivo”) procedure (as recently amended by the new Italian Business Crisis and Insolvency Code of 2022) with Chapter 11 of the US Bankruptcy Code, focusing on two main issues. The first issue analyses the impact of the Directive (EU) 2019/1023, which aims to remove barriers to fundamental freedoms and promote market efficiency by introducing, among others, preventive restructuring frameworks (PRFs). The Directive's guidelines on the treatment of creditors, including the requirement to allocate restructuring proceeds on the basis of the “relative priority rule (RPR)”, are examined. The second issue discusses Italy's new Business Crisis and Insolvency Code of 2022, which introduces several innovations to judicial CWC proceedings. These include facilitations for CWC on a going concern basis, a mandatory division of creditors into classes, a new voting and cramdown system, and significant changes to the distribution of restructuring proceeds, also to comply with Directive (EU) 2019/1023.","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"33 3","pages":"361-379"},"PeriodicalIF":0.5,"publicationDate":"2024-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142664553","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Municipalities at the crossroads: Deciphering the nexus between municipal insolvencies and international investment mandates 处于十字路口的市政当局：解读市政破产与国际投资任务之间的关系

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-10-02 DOI: 10.1002/iir.1554

Qiang Ren, Jing Du

{"title":"Municipalities at the crossroads: Deciphering the nexus between municipal insolvencies and international investment mandates","authors":"Qiang Ren, Jing Du","doi":"10.1002/iir.1554","DOIUrl":"https://doi.org/10.1002/iir.1554","url":null,"abstract":"Navigating the convergence of domestic governance and international investment law presents multifaceted challenges in an ever-globalizing world. The recent bankruptcy of the Birmingham City Council in September 2023, burdened by substantial debt from equal pay claims, serves as a poignant example, illustrating the potential widespread effects of local financial crises on international investment protections and obligations. The discourse explores the complexities arising from municipal insolvencies and the implications of such local fiscal policies on international investment obligations. The lens of international arbitral tribunals sheds light on the dilemmas faced when local realities vie with global responsibilities, especially concerning investor protections and Bilateral Investment Treaties. Decentralized states add another layer of intricacy, balancing regional policies with overarching international commitments. As the landscape of international investment law transforms, both state entities and investors must understand and adapt to the evolving interplay. The synthesis of these two realms is crucial in today's globalized era. Through proactive policy-making, stakeholder dialogues, and a keen understanding of both local and global dynamics, a harmonious fusion of domestic objectives and international obligations can be achieved.","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"33 3","pages":"380-398"},"PeriodicalIF":0.5,"publicationDate":"2024-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142664554","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Re-examining insolvency law and theory: perspectives for the 21st century. By Edited by Emilie Ghio, John Wood, Jennifer Gant (Eds.), ( 1st ed) Cheltenham: Elgar. 2023. pp. 312. £115. ISBN: 978-1-80392-875-3 重新审视破产法和理论：21 世纪的视角》。作者：EmilieGhio、JohnWood、JenniferGant（编辑），（第 1 版）切尔滕纳姆：Elgar.2023. pp.312.£115.ISBN: 978-1-80392-875-3

IF 0.5 3区社会学

International Insolvency Review Pub Date : 2024-09-03 DOI: 10.1002/iir.1545

Bob Wessels

引用次数: 0