Insolvency
Working Paper
How Do Legal Rules Evolve? Evidence From a Cross-Country Comparison of Shareholder, Creditor and Worker Protection
Much attention has been devoted in recent literature to the claim that a country’s ‘legal origin’ may make a difference to its pattern of financial development and more generally to its economic growth path. Proponents of this view assert that...Read more
A New Framework for Business Restructuring in Europe: The EU Commission's Proposals for a Reform of the European Insolvency Regulation and Beyond
This paper critically reviews the EU Commission?s proposals for a reform of the European Insolvency Regulation (EIR). The focus of the paper is on the Regulation?s use as a tool for business restructuring in Europe. The paper argues that the...Read more
Rediscovering Corporate Governance in Bankruptcy
In this Essay on Lynn LoPucki and Bill Whitford?s corporate reorganization project, written for a symposium honoring Bill Whitford, I begin by very briefly describing its historical antecedents. The project draws on the insights and perspectives...Read more
Comparative Corporate Insolvency Law
This chapter deals with fundamental issues of corporate insolvency law. Particular attention is paid to the agency problems related to ?bankruptcy governance? and how these are addressed in various jurisdictions. Methodologically, the chapter is...Read more
What is an insolvency proceeding?
Insolvency proceedings and issues relating to personal and business insolvencies are the daily subject of scholarly work and insolvency practice. But what is an insolvency proceeding? And why is this an important question? This article deals with...Read more
Contracting for a European Insolvency Regime
The European Commission has proposed a directive on ‘preventive restructuring frameworks’ for financially distressed firms. I demonstrate that the proposal is flawed because it creates a refuge for failing firms that should be liquidated, because...Read more
News
What is an insolvency proceeding?
What is an insolvency proceeding?
Across the globe, procedures to restructure financially distressed businesses are increasing in importance. Prima facie, many of these...Read more