The european restructuring directive / Gerard McCormack (Professor of International Business Law, University of Leeds, UK and Visiting Professor, University of Vaasa, Finland).

Format:

Book

Author/Creator:

McCormack, G. (Gerard), author.

Contributor:

Edward Elgar Publishing, publisher.

Series:

Elgar Corporate and Insolvency Law and Practice

Elgar corporate and insolvency law and practice series

Language:

English

Subjects (All):

Corporate reorganizations--Law and legislation--European Union countries.

Corporate reorganizations.

Business enterprises--Law and legislation--European Union countries.

Business enterprises.

Bankruptcy--European Union countries.

Bankruptcy.

European Parliament. Directive on restructuring and insolvency (2019).

European Parliament.

Physical Description:

1 online resource (336 pages).

Place of Publication:

Northampton : Edward Elgar Publishing, 2021.

Summary:

"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 initiatives identification of important parallels with the UK scheme of arrangement and the new UK restructuring plan procedure embodied in the Corporate Insolvency and Governance Act 2020 a 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"-- Provided by publisher.

Contents:

Contents: Preface

1. Introduction

2. Recognition and enforcement of preventive restructuring procedures across Europe

3. Access and control

4. Stays (moratoria) on the enforcement of rights against a debtor

5. New finance and restructuring related transactions

6. Restructuring plans and their confirmation

7. Debt discharge and individual entrepreneurs

8. Improving the efficiency of restructuring, insolvency and debt discharge procedures

Index.

Notes:

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-78990-881-7

OCLC:

1247400942