International Insolvency Review最新文献

{"title":"Protecting vulnerable stakeholders in insolvency proceedings: A Latin American perspective","authors":"Juan L. Goldenberg-Serrano","doi":"10.1002/iir.70001","DOIUrl":"https://doi.org/10.1002/iir.70001","url":null,"abstract":"<p>This article revisits and amplifies the concept of vulnerable claimants by integrating human rights and resilience discourses into insolvency proceedings, particularly in the Latin American context. Because existing models usually assume equal claimant capacities in the insolvency arena, I propose a correction through nuanced resilience-based tests—<i>absorption</i> and <i>adaptability</i>—stepping forward from procedural corrections based only on information asymmetries and participation costs. Drawing from some examples in regional case law and regulations, this proposal aims to grant a more robust framework to offer tailored measures for lawmakers to protect the dignity and fundamental rights of vulnerable stakeholders and set standards for responsive States.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 2","pages":"448-474"},"PeriodicalIF":0.3,"publicationDate":"2025-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144725514","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":"Insolvency law in UNCITRAL: Instruments and comments (1st edition). By Edited by Ángel María Ballesteros Barros, David Morán Bovio (Eds.), Navarra: Aranzadi. 2023. pp. 416. €51. ISBN: 978-841-1636-46-9","authors":"Rodrigo Rodriguez","doi":"10.1002/iir.1573","DOIUrl":"https://doi.org/10.1002/iir.1573","url":null,"abstract":"","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 2","pages":"256-258"},"PeriodicalIF":0.3,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144725687","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":"Miljön i konkurs [The environment in bankruptcy] (1st edition). By Edited by Jonatan Schytzer, Stockholm: Norstedts Juridik AB. 2025. pp. 394. SEK 800. ISBN: 978-91-39-03050-8","authors":"Tuula Linna","doi":"10.1002/iir.1572","DOIUrl":"https://doi.org/10.1002/iir.1572","url":null,"abstract":"","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 2","pages":"254-255"},"PeriodicalIF":0.3,"publicationDate":"2025-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144725686","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":"The UNCITRAL model laws on cross-border insolvency and on the recognition and enforcement of judgments: An article-by-article commentary (1st edition). By Edited by Reinhard Bork, Michael Veder (Eds.), Cheltenham: Elgar. 2025. xliii and pp. 494. £180. ISBN: 978-1-83910-251-6","authors":"Paul Omar","doi":"10.1002/iir.1575","DOIUrl":"https://doi.org/10.1002/iir.1575","url":null,"abstract":"","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 2","pages":"262-263"},"PeriodicalIF":0.3,"publicationDate":"2025-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144725488","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":"Guest editorial: Managing the risks of digital infrastructure insolvencies","authors":"Rebecca Parry","doi":"10.1002/iir.1571","DOIUrl":"https://doi.org/10.1002/iir.1571","url":null,"abstract":"","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 2","pages":"249-253"},"PeriodicalIF":0.3,"publicationDate":"2025-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144725358","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":"40 Years of consumer bankruptcy law in continental Europe: A qualitative analysis on the absence of consumer bankruptcy in the Western Balkan countries","authors":"Marinela Majnova","doi":"10.1002/iir.1569","DOIUrl":"https://doi.org/10.1002/iir.1569","url":null,"abstract":"<p>There are 12 countries in Europe without any consumer bankruptcy legislation, and almost half of them are located in the Western Balkans. The only available solution for debt repayment in the region is the enforcement procedure. This article identifies the reasons behind the non-existence of consumer bankruptcy, and the challenges that Western Balkan countries face currently. Specifically, the article examines the rationale behind the need for consumer bankruptcy law enactment and the reasoning supporting the adoption of distinct consumer bankruptcy laws in the Western Balkans, encompassing economic, legal and cultural dimensions. Analysis of the absence of consumer bankruptcy legislation in the Western Balkans and the reasons behind it is <i>terra incognita</i> in the literature and the main contribution that the author offers. For this purpose, the author used qualitative research methods and conducted a qualitative study consisting of semi-structured one-on-one interviews with legal professionals, policymakers and enforcement officials using open-ended questions. The insights gained provide valuable implications for future consumer bankruptcy reforms in the region. The research contributes to the existing body of literature by offering a unique understanding of the phenomenon in European countries where currently there is no solution for debt adjustment.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 1","pages":"203-227"},"PeriodicalIF":0.5,"publicationDate":"2025-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144074239","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":"Cross-border insolvency in the Balkans region","authors":"Catherine Bridge Zoller,&nbsp;Natalia Pagkou,&nbsp;Zsoka Koczan,&nbsp;Stathis Potamitis,&nbsp;Konstantinos Rachianiotis,&nbsp;Nicoleta Mirela Nastasie,&nbsp;Judge Marko Radović,&nbsp;Vuk Radović","doi":"10.1002/iir.1570","DOIUrl":"https://doi.org/10.1002/iir.1570","url":null,"abstract":"<p>In a constantly evolving world, it is necessary to safeguard trade and investment relations through the establishment of clear rules for cooperation between national courts and practitioners from different jurisdictions on cross-border insolvency cases. While general provisions in national law or in treaties governing cooperation on foreign civil proceedings are helpful, specific provisions in insolvency legislation that regulate the management of insolvency proceedings with a cross-border element contribute to legal certainty and support the flow of international trade and foreign direct investment. These may even signal to potential investors the openness of a particular jurisdiction to foreign investment and trade. A set of rules or framework for international cooperation on cross-border insolvency cases enables efficient judicial decision-making and positively influences insolvency outcomes, from the preservation of assets of the insolvency estate to the fair allocation of such assets to affected creditors and the successful rescue of the insolvent business. The importance of this subject matter is exemplified by global efforts to achieve greater cross-border insolvency cooperation and harmonisation on substantive insolvency law. Such efforts include the UNCITRAL Model Law on Cross-border Insolvency and Legislative Guide on Insolvency Law, as well as regional initiatives such as the Recast European Union Insolvency Regulation and the Uniform Law on Insolvency Procedures by the Organization for the Harmonization of Business Law in Africa, which have harmonised cross-border insolvency rules across member states. This article uses economic analysis, recent jurisprudence and legal theory to explore the importance and evolution of cross-border insolvency frameworks in selected Balkan countries: Greece, Romania and Serbia.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 1","pages":"228-246"},"PeriodicalIF":0.5,"publicationDate":"2025-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144074365","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":"Are all debtors the same? Personal insolvency and debtors' profiles in Chile","authors":"Macarena Vargas Pavez","doi":"10.1002/iir.1565","DOIUrl":"https://doi.org/10.1002/iir.1565","url":null,"abstract":"<p>In 2014, Chilean bankruptcy legislation underwent a significant change with the enactment of Law 20,720. Among its innovations is incorporating individuals as insolvency subjects and regulating two insolvency proceedings especially designed for them. However, although almost 10 years have elapsed since the entry of this legislation into force, there are few empirical studies on the profile of the individuals who use these procedures. This article presents data from unpublished and exploratory empirical research, suggesting the participation of different types of debtors in the personal insolvency system and raising the need for differentiated procedural tracks, particularly for the most vulnerable ones.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 1","pages":"103-121"},"PeriodicalIF":0.5,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144074196","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":"New legislation on restructuring in Bosnia and Herzegovina: A step forward?","authors":"Dijana Marković-Bajalović","doi":"10.1002/iir.1568","DOIUrl":"https://doi.org/10.1002/iir.1568","url":null,"abstract":"<p>The legislative competence concerning insolvency in Bosnia and Herzegovina (‘BH’) lies with two entities – the Federation of BH and the Republic of Srpska – and the autonomous Brčko District. The reform of insolvency laws started 20 years ago and was influenced by new insolvency legislation in neighbouring countries. In recent years, BH insolvency laws have undergone major changes promoted by the World Bank and inspired by the European Union's activity on introducing measures aiming to prevent insolvency – Commission Recommendation 2014/135 on a new approach to a business failure and insolvency and Directive (EU) 2019/1023 on preventive restructuring and insolvency. The two BH entities and the Brčko District adopted new insolvency laws laying down the court's restructuring procedure. Besides, the Republic of Srpska enacted a special law on out-of-court financial restructuring. A debtor or a creditor can initiate restructuring in court in case of a debtor's imminent inability to pay debts. The restructuring procedure resembles the insolvency process, with the court managing the process within a strict timeline. The opening of the procedure activates the automatic stay of enforcement actions against the debtor. The court appoints a trustee among qualified insolvency administrators to list the debtor's property items and creditors' claims and control the debtor's operations by the end of the process. The role of creditors is minimised. They notify claims to the court and vote on a restructuring plan proposed by a debtor. BH laws fail to outline the scope of restructuring measures; they merely distinguish financial and operational restructuring. BH laws do not classify creditors according to the commonality of interests principle and consequently do not allow cram-down across classes. Measures concerning early warning of creditors on the debtor's imminent inability to pay debts are missing in the laws. Provisions for special treatment of new financing are also lacking. Out-of-court restructuring is possible in BH within the framework of general contract law. Besides, the Republic of Srpska legislator made negotiations on voluntary out-of-court restructuring possible with the assistance of the Chamber of Commerce RS.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 1","pages":"183-202"},"PeriodicalIF":0.5,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144074197","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":"The Italian exclusion of farming enterprises from major insolvency proceedings: An assessment of its appropriateness within the European Union insolvency context","authors":"Oriana Casasola,&nbsp;Elisa Salvadori","doi":"10.1002/iir.1567","DOIUrl":"https://doi.org/10.1002/iir.1567","url":null,"abstract":"<p>The article examines the Italian approach to farming enterprises' insolvency. In Italy, farmers were traditionally excluded from the application of insolvency proceedings regardless of their corporate status. In the last decade, they have gained limited access to special insolvency procedures developed for consumers and small enterprises. The study seeks to compare the Italian perspective with the insolvency frameworks of the other European Union (EU) member states and place the Italian approach within the broader EU insolvency framework. The article questions the validity of the Italian exclusion of farmers from the major insolvency proceedings in light of the modern rationales of insolvency law (i.e., restructuring, rescuing and second chances). In doing so, the article has a fourfold structure. First, the article analyses the current Italian approach to the insolvency of farming enterprises. Second, it compares the Italian approach to the regimes concerning farmers' access to insolvency proceedings of the other 26 EU member states. Third, it analyses the EU insolvency framework concerning farmers' insolvency and evaluates the impact of the Directive on Restructuring and Insolvency on the rationale of the Italian insolvency regime. Last, the article seeks to put forward policy recommendations for future reforms of farmers' insolvency in Italy.</p>","PeriodicalId":53971,"journal":{"name":"International Insolvency Review","volume":"34 1","pages":"161-182"},"PeriodicalIF":0.5,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/iir.1567","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144074183","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}