Elgar Corporate and Insolvency Law and Practice series – serie

This thoroughly revised second edition provides a clear overview of the functions and liabilities of insolvency practitioners (IPs). It considers the circumstances in which IPs are appointed and their duties and powers, before offering a detailed investigation into their potential professional liabilities, as well as in-depth guidance to practitioners and advisers as to how claims might be framed and defended.Key Features:Examination of both reported case law and unreported cases from the authors’ own experiences to provide unparalleled insightDiscussion of tendentious matters such as aspects of remuneration and the latitude given to IPs in exercising their commercial judgementAnalysis of recent legislative developments including the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 regarding ‘pre-packs’Consideration of "immunity" for office-holders on directions applications following the important decision of the Court of Appeal in Denaxe v Cooper (2023)Coverage of important Supreme Court cases such as Brake v The Chedington Court Estate Ltd (2023) on the question of standing to challenge trustees in bankruptcy and R (on the application of Palmer) v Northern Derbyshire Magistrates’ Court (2023) on whether administrators and liquidators are ‘officers’ of a company for all purposesConsideration of significant first instance decisions such as Re One Blackfriars Ltd (2021) on IP liabilities, Centenary 6 Ltd v TLT LLP (2023) on claims against administrators and liquidators, and Carraway Guildford (Nominee A) Ltd v Regis UK Ltd (2021) on the professional liability of a nominee in a CVAThis book is a crucial resource for insolvency practitioners and lawyers in insolvency practice, enabling them to effectively assist and advise IPs from appointment to discharge. It is also essential reading for postgraduate students and academics in corporate and insolvency law.

This comprehensive book provides an up-to-date and accessible overview of the relevant law and key issues surrounding company voluntary arrangements (CVAs). Andrew Keay and Peter Walton discuss the historical background as well as the procedural and legal requirements of CVAs.Keay and Walton outline how CVAs can enable an insolvent company to come to terms with its situation and agree a way forward with its creditors. With a focus on the law in England and Wales, they assess the relevant procedure, investigating how the pertinent provisions in the Insolvency Act 1986 and the Insolvency Rules 2016 have been interpreted and applied. The book further examines the critical case law that has developed since the introduction of CVAs in 1986.Key Features:Combines cutting-edge research with detailed analysis on the legal nature of CVAsExplores the role of insolvency practitioners and other stakeholders in commencing and running a CVASheds light on the professional regulatory framework and considers how different creditors are impacted by CVAsCompany Voluntary Arrangements is an essential resource for practitioners and policymakers in company and insolvency law, as well as corporate law and governance. It will also greatly benefit academics studying corporate and insolvency law.

This book examines common intra-group financial transactions, such as intra-group loans and cross-guarantees, highlighting their impact and treatment in the insolvency and restructuring of multinational enterprise groups. It identifies the unique challenges posed by the complex corporate and financial structures of multinational firms when one or more group entities face insolvency. It provides a comparative analysis of statutes and recent case law from three leading restructuring forums: the UK, the USA and the Netherlands.Key Features:Assesses how insolvency law can better respond to the economic realities of corporate groups and their financial arrangements.Identifies post-global financial crisis regulations for banking groups and how they can inform solutions for corporate group insolvencies.Investigates modern commercial practices and legal tools for group restructurings, including third-party releases, extended enforcement stays, rescue financing and safe harbours against transaction avoidance.Analyses common intra-group financial arrangements, such as intra-group loans, centralised cash management, cross-guarantees and other forms of shared liability, exploring the major problems they create in insolvency.Clear, comparative and comprehensive in scope, this book offers valuable insights for judges and lawyers specialising in company, financial and insolvency law, as well as for insolvency practitioners and policymakers. It also serves as an essential resource for students and scholars in the fields of corporate law and governance, insolvency law, finance and banking law.

This book provides an in-depth analysis of the jurisdiction in cross-border corporate insolvency proceedings within EU member states, investigating the rationale, structure and functioning of the grounds to initiate and supervise the proceedings according to the European Insolvency Regulation (Recast). It explores personal, territorial, and substantive scopes of the insolvency courts’ jurisdiction, as well as its interplay with the jurisdiction of other courts and Alternative Dispute Resolution (ADR) mechanisms.The author discusses national, EU and international case law and legislation, utilising practical and theoretical approaches. Chapters engage with liquidation and restructuring by adopting a combined perspective on European private international law and insolvency law.Key Features:Deep analysis of jurisdictional principles in cross-border insolvencyCombined perspective on private international law and insolvency lawSolutions to cases where insolvency proceedings run parallel with civil and commercial proceedingsFocus on asset tracing and recoveryDiscussing on the interplay between cross-border insolvency proceedings and ADRJurisdiction in EU Cross-Border Insolvency Law is an essential reading for lawyers, judges and insolvency practitioners. Its unique insights will also be greatly beneficial to students, academics and practitioners in private international law, arbitration, and European Union law.

The significant role of credit in obtaining corporate capital means that credit and the treatment of creditors’ interests raises distinctive issues in the event of company insolvency. In this book, Kayode Akintola addresses these issues, providing an exceptional in-depth analysis of the principles, policy and practice of creditor treatment in corporate insolvency law.Key features include:an exploration of aspects of corporate insolvency law in need of reforman extensive examination of the rights and priorities of secured and unsecured creditors in English corporate insolvency lawan analysis of the impacts of key legislative developments, such as the Insolvency (England and Wales) Rules 2016, and recent case law, such as the Supreme Court decision in the Lehman Waterfall casea unique consideration of bank insolvency regimes in the context of creditor treatment.Creditor Treatment in Corporate Insolvency Law is a specialist guide for legal practitioners and members of the judiciary looking for a clear account of current law and practice in this field. It is also a valuable doctrinal treatment of the law for scholars of corporate insolvency law, and will be of interest to policymakers involved in debates about reforms to creditor treatment and secured transactions law.

This important book provides a comprehensive analysis of governance issues that exist in relation to the management of insolvent companies, both while an insolvent company is still controlled by the directors and when it passes into the hands of an insolvency practitioner in a formal insolvency regime. Throughout, the authors argue that the two most important features of corporate governance are transparency and accountability and offer a detailed analysis of the relevant law and practice.Key Features:Examination of the position of all stakeholders in an insolvent company, both before and during an insolvency regimeSpecialist explanation of what corporate governance entails and the recent developments that have occurred in relation to corporate governance as it affects insolvent companiesIn-depth consideration of the role of creditors, shareholders, the Insolvency Service, special managers and creditors’ committees during periods of insolvency as well as the role and functions of directors and insolvency practitioners who are the main focusOffering critical advice and bringing awareness of important issues, Corporate Governance and Insolvency will be a key reference work for lawyers and insolvency practitioners. The legal analysis provided will also be valuable to academics and students of corporate and insolvency law and governance.

This comprehensive book provides a clear analysis of the European Restructuring Directive, which aims to improve national frameworks governing business restructuring and insolvency as well as to provide debt relief for individuals. Gerard McCormack explores the key aspects of the Directive including the moratorium on litigation and enforcement claims against the financially-troubled business, the provision for new financing, the division of creditors into classes, the introduction of a restructuring plan and the rules for approval of the plan by a court or administrative authority.Key features include:a unique contextualisation of the Directive, situating it against the backdrop of earlier European initiativesidentification of important parallels with the UK scheme of arrangement and the new UK restructuring plan procedure embodied in the Corporate Insolvency and Governance Act 2020a comparison of the Directive with Chapter 11 of the US Bankruptcy Code, the United Nations Commission on International Trade Law legislative guide on insolvency, and the World Bank’s Insolvency and Creditor Rights and Doing Business projects.This important new book provides a detailed and practical analysis of the Directive and the implications for its transposition into national laws, making it an essential work for insolvency lawyers and practitioners, as well as EU policy makers. It will also be critical reading for academics and students of law, particularly those interested in commercial, insolvency, corporate and European law.

Cross-border insolvency protocols play a critical role in facilitating the efficient resolution of complex international corporate insolvencies. This book constitutes the first in-depth study of the use of insolvency protocols, enriching existing knowledge about them and serving as a comprehensive introduction to their application in the context of multinational enterprise group insolvency. It traces the rise of insolvency protocols and discusses their legal basis, contents, effects, major characteristics and limitations.Key features include:proposition of a Group Insolvency Protocol (GIP) designa comprehensive study of around 50 insolvency protocols from 1992 to 2020analysis of major international insolvency law instruments, modern trends and developments in the area of insolvency of enterprise groupspractical recommendations for drafting an insolvency protocol, addressing problems related to their adoption and offering suggestions for the improvement of group coordinationexploration of the nature of insolvency protocols and pertinent issues including the preservation and realization of material assets, resolution of intercompany claims, information exchange, conflicts of interest, participation rights and group governance in insolvency.Cross-Border Protocols in Insolvencies of Multinational Enterprise Groups will be an indispensable resource for insolvency practitioners, lawyers, judges and policy makers, whilst also being of value to scholars and students concerned with insolvency law and corporate governance.

With individual voluntary arrangements assuming an increasingly dominant position within personal insolvency law over the last 35 years, this timely book presents a concise yet authoritative guide to this formal debt relief mechanism. It analyses the statutory framework and how this has been interpreted and applied by the courts, as well as the policies that guide it. Key Features: Overview of the essential nature of the law and its effect on the debtor, the creditors, and third partiesFocus on the law as it currently stands, together with an analysis of how this has changed and developedReview of primary documents, including the proposal and the statement of affairs Examination of the procedures involved, the statutory framework in which those procedures are embedded, and the interpretation of this framework that has been applied by the courts Providing an informed and extensive review of the law, it will be invaluable to insolvency practitioners, lawyers, and judges working with individual voluntary arrangements. Accessible and concise in its analysis, it will also be useful to students and scholars of insolvency law researching voluntary arrangements.

Bankruptcy: Law and Practice presents a comprehensive guide to the law of bankruptcy in England and Wales and how it is applied in practice, focusing on this key area of personal insolvency law in order to provide a full understanding of how these laws operate.Alaric Watson and Stephen Baister provide an up-to-date and in depth analysis of every aspect of bankruptcy law. In addition, this new work also examines the historical and socio-economic context in which this field of law operates and the policies that govern it, the impact of the death or incapacity of the debtor, the interrelationship between bankruptcy and both matrimonial law and employment law and various cross-border considerations.Key Features:Exploration of the jurisdictional and procedural requirements for initiating bankruptcy proceedings and their immediate effectsInsights into the role and powers of the Official Receiver and the trustee in bankruptcy, and the administration of the estate and the realisation of assetsInvestigation into the undoing of antecedent transactionsDiscussion of the processing of creditors’ claims and the distribution of dividends and how orders may be reviewed, appealed or annulledBankruptcy: Law and Practice is essential reading for lawyers, insolvency practitioners, academics and students concerned with issues relating to personal insolvency.

This book provides an extensive analysis of the law and practice relating to insolvency litigation in England and Wales, as well as examination of other common law jurisdictions. Written by leading insolvency lawyers it addresses key concerns affecting the prosecution and defence of insolvency proceedings by drawing on a wide range of case law, providing detailed guidance on challenging issues.Key Features:Combines practice insights with a clear exposition of the relevant law as it affects the litigation relating to insolvency proceedingsFocuses on the law in England and Wales but incorporates consideration of law in other common law jurisdictionsEvaluates the Insolvency Rules 2016 and the Insolvency Act 1986 in the context of relevant case lawExamines a broad range of litigation topics, including insolvency processes, information gathering, claims, costs and funding, and cross-border regulationsInsolvency Litigation is a vital resource for legal practitioners specialising in insolvency, as well as all those seeking a wider understanding of insolvency litigation. Its insights are also beneficial to students and scholars of company and insolvency law, and dispute resolution.