{"title":"Re‐examining insolvency law and theory: perspectives for the 21st century. By Edited by EmilieGhio, JohnWood, JenniferGant (Eds.), (1st ed) Cheltenham: Elgar. 2023. pp. 312. £115. ISBN: 978‐1‐80392‐875‐3","authors":"Bob Wessels","doi":"10.1002/iir.1545","DOIUrl":"https://doi.org/10.1002/iir.1545","url":null,"abstract":"","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142176614","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}
{"title":"Implementation of the EU preventive restructuring directive: Part I Edited by Gert-Jan Boon, Harold Koster and Reinout Vriesendorp (eds) ( 1st edition) (2023, Eleven Publishing, The Hague) xi and 280 pp., €78, ISBN 978-90-4730-186-8","authors":"Paul Omar","doi":"10.1002/iir.1542","DOIUrl":"https://doi.org/10.1002/iir.1542","url":null,"abstract":"","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141639600","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}
{"title":"Group concerns and communication and cooperation between practitioners under the European Insolvency Regulation (Part II)","authors":"Sid Pepels","doi":"10.1002/iir.1525","DOIUrl":"10.1002/iir.1525","url":null,"abstract":"<p>In this article, the author examines with a specific focus on the insolvency practitioner to what extent the Recast European Insolvency Regulation's provisions on communication, cooperation and coordination between the main actors in group companies' insolvency proceedings allow for efficient restructurings of those group companies. In doing so, the author will, at points, compare the provisions in Chapter V of the Recast European Insolvency Regulation to—and draw inspiration from—the German provisions on groups of companies that were adopted into the German Insolvency Act (Insolvenzordnung) and the United Nations Commission on International Trade Law's Model Law on Enterprise Group Insolvency. The author also aims to outline, among other things, the various forms of (cross-border) communication, cooperation and coordination that the Recast European Insolvency Regulation obligates insolvency practitioners of groups of companies to engage in, how they should implement those forms of ‘CoCo’ and what would happen if they neglect to comply with those obligations. This article is Part II of a diptych on this topic; Part I was published in an earlier issue of this journal.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/iir.1525","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140073003","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}
{"title":"China's crisis management and market exit mechanism for banks—What is the way forward?","authors":"Geleite Xu, Yifeng Shi","doi":"10.1002/iir.1529","DOIUrl":"10.1002/iir.1529","url":null,"abstract":"<p>As China's crisis management and market exit mechanism for banks (CMME mechanism) is still at an early stage of development, the legislation governing the mechanism is far from sufficient or satisfactory. With the aim of exploring how the holistic framework of China's CMME mechanism can be improved, this article systemically examines the mechanism from the perspectives of the major procedural components and the specially designed funding sources. Based on the analysis, three major types of weaknesses in the current mechanism are pointed out: ‘missing elements’, ‘unfit elements’ and ‘uncoordinated elements’. To be specific, some essential elements are missing from the current mechanism; some elements in the mechanism are unfit when applied to banks; and some elements are uncoordinated with each other within the mechanism. It is necessary that an overhaul of the mechanism be carried out to address these weaknesses. In addition, given that governments' involvement was demonstrated to be helpful in resolving bank crises in past cases, it would be better to institutionalise this experience in the CMME mechanism. Only with a well-crafted CMME mechanism can bank crises be resolved in an orderly, effective and efficient manner.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139843693","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}
{"title":"China's crisis management and market exit mechanism for banks—What is the way forward?","authors":"Geleite Xu, Yifeng Shi","doi":"10.1002/iir.1529","DOIUrl":"https://doi.org/10.1002/iir.1529","url":null,"abstract":"As China's crisis management and market exit mechanism for banks (CMME mechanism) is still at an early stage of development, the legislation governing the mechanism is far from sufficient or satisfactory. With the aim of exploring how the holistic framework of China's CMME mechanism can be improved, this article systemically examines the mechanism from the perspectives of the major procedural components and the specially designed funding sources. Based on the analysis, three major types of weaknesses in the current mechanism are pointed out: ‘missing elements’, ‘unfit elements’ and ‘uncoordinated elements’. To be specific, some essential elements are missing from the current mechanism; some elements in the mechanism are unfit when applied to banks; and some elements are uncoordinated with each other within the mechanism. It is necessary that an overhaul of the mechanism be carried out to address these weaknesses. In addition, given that governments' involvement was demonstrated to be helpful in resolving bank crises in past cases, it would be better to institutionalise this experience in the CMME mechanism. Only with a well‐crafted CMME mechanism can bank crises be resolved in an orderly, effective and efficient manner.","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139783583","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}
{"title":"An empirical study of micro- and small-enterprise bankruptcy protection under the COVID-19 pandemic: New evidence from China","authors":"Song Yuxia, Sun Mei, Yu Congyuan, Liao Zhiya","doi":"10.1002/iir.1528","DOIUrl":"https://doi.org/10.1002/iir.1528","url":null,"abstract":"<p>Micro- and small-enterprises (MSEs) serve as a strong foundation for sustainable and stable economic and social development in countries worldwide. However, they are highly susceptible to bankruptcy crises, a phenomenon that has been significantly amplified by the COVID-19 pandemic. The article presents an empirical investigation of the application of the bankruptcy system to MSEs, using data on MSE bankruptcies published by the Sichuan courts in China in 2020 during the COVID-19 pandemic as evidence. The article reveals that MSEs face a triple dilemma when applying bankruptcy procedures. Firstly, the legal system for bankruptcy is unsound. Secondly, the institutional mechanism for bankruptcy is imperfect. And thirdly, the social environment surrounding bankruptcy is not conducive. The article presents a novel approach to address bankruptcy issues by suggesting the implementation of streamlined bankruptcy procedures, a reorganization system for small and micro-enterprises and a personal bankruptcy system. Additionally, it proposes enhancing the institutional framework for the selection, evaluation and oversight of bankruptcy judges and administrators, as well as the establishment of third-party institutions. Furthermore, it advocates for a modernized understanding of bankruptcy, the provision of pre-bankruptcy services and the creation of a bankruptcy protection system. The article presents a unique sample of international comparative studies on MSEs and proposes a new approach to examining bankruptcy protection for MSEs in China.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":null,"pages":null},"PeriodicalIF":0.5,"publicationDate":"2024-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141639599","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}