Bankruptcy and insolvency Books

Book SynopsisAn original book offering a unique theoretical approach, Re-examining Insolvency Law and Theory analyses the important role that legal theory plays in the development of insolvency law. It explores how law and theory are able to respond to issues of financial distress in the 21st century and questions how insolvency law could develop to address contemporary challenges.Re-examining Insolvency Law and Theory brings together international experts in insolvency, who consider the key conceptual influences that have impacted insolvency law since the beginning of the 21st century. Chapters address a number of theoretical perspectives, divided into overall philosophical considerations, theoretical criticisms of the internal mechanisms of insolvency law, and how external theoretical paradigms could be used to shift perspectives on insolvency frameworks. Presenting a distinctive and conceptually holistic approach, this erudite book provides an essential contribution to an ever evolving area of legal research and practice.Re-examining Insolvency Law and Theory is a crucial read for academics and students interested in insolvency law both in the UK and internationally. It will also be highly insightful for legal professionals and practitioners specialising in insolvency law.Trade Review‘This important new text offers clear and accessible theoretical perspectives on insolvency law, bringing varied perspectives together through readable introductory chapters. At one time the main insolvency law theories were well-rehearsed and it was necessary to search far and wide for the fresh insights that this book brings in one volume. In discussion of key theoretical concepts, theorists and perspectives from other disciplines this text will be extremely valuable for researchers with interests in insolvency law and will inspire further reading.’ -- Rebecca Parry, Nottingham Trent University, UK‘This collection is a very welcome contribution to scholarship in relation to the law of corporate insolvency and rescue. The doctrinal features of this body of law are complex and challenging. The addition of a theoretical analysis is long overdue, partly I am sure because of the intellectual challenges of combining theory with doctrinal clarity. The authors have done so admirably, not surprising to those of us who are aware of the standing and reputation of many of the contributors to the collection. This is a volume which is a “must have” for all interested in the subject.’ -- Irene Lynch Fannon, University College Cork, IrelandTable of ContentsContents: 1 Introduction: insolvency theory for a new age 1 Emilie Ghio, John M. Wood and Jennifer L. L. Gant PART I PHILOSOPHICAL CONSIDERATIONS AND INFLUENCES ON INSOLVENCY LAW 2 Insolvency law and morality 8 Paul Omar 3 The liberalisation of bankruptcy law 24 David Milman 4 Insolvency law and the legal feminist movement 40 Lézelle Jacobs 5 A Dworkinian approach to insolvency law 55 Catherine Brown and Colin Anderson 6 A Nietzchean approach to debt and human thought 72 John Tribe 7 A Rawlsian approach to preventive restructuring 96 Stathis Potamitis and Xenophon Paparrigopoulos PART II AN INWARD-LOOKING STUDY OF INSOLVENCY LAW 8 Decision theory and insolvency law 116 John M. Wood 9 The competing goals theory and insolvency law 133 Jason Harris 10 Successor liability theory and insolvency law 153 Laura N. Coordes 11 Vulnerability theory and insolvency law 166 Jennifer L. L. Gant PART III AN OUTWARD-LOOKING STUDY OF INSOLVENCY LAW 12 Insolvency law through the lens of human rights theories 190 Eugenio Vaccari and Tara Van Ho 13 Insolvency law through the lens of company law theories 216 Jonathan Hardman 14 Insolvency law through the lens of a contract theory of restructuring 228 Stephan Madaus 15 Insolvency law through the lens of property law theories 244 Alisdair MacPherson 16 Insolvency law through the lens of psychology theories 262 Emilie Ghio 17 Concluding remarks: new ways to theorise about insolvency and rescue 281 Jennifer L. L. Gant, Emilie Ghio and John M. Wood Index 298

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Book SynopsisTrade Review"Bankrupt in America is a wonderful combination of history, institutional analysis, and empirical economics, all in the same book. The book is full of important new insights into twentieth and early twenty-first century American consumer bankruptcy, including the authors' remarkable discovery that the principal determinants of consumer bankruptcy have often been the supply of consumer credit and the stringency of state garnishment laws, rather than changes in bankruptcy law itself. Bankrupt in America is destined to become an empirically rigorous companion to classics of American consumer finance such as Lendol Calder's Financing the American Dream."--David Skeel, University of Pennsylvania "Mary and Bradley Hansen have presented us with a superb economic history of personal bankruptcy laws in the United States in the twentieth century. They have collected large quantitative databases and subjected them to careful statistical analysis--cliometricians will applaud--but they have also analyzed the interest-group politics that shaped the bankruptcy laws, and provided us with numerous stories of individuals coping with debt and bankruptcy which make the economic analysis come alive. Bankrupt in America will become a classic--the book that generations of economic historians will cite as the authoritative source. But the book is also timely, as we have come to realize that the social safety net, of which the bankruptcy laws form an important part, has become increasingly frayed."--Hugh Rockoff, Rutgers University "Bankrupt in America is a tour de force analysis of bankruptcy legislation and its impact over the twentieth century. It shows the interplay among state and federal legislation, economic conditions, social stigma, and the role of certain individuals in accounting for changes over time and across states. The authors offer an institutional and cliometric account that deftly draws on economics, history, law and political science. It will become the resource for many scholars, and I hope legislators."--Lee J. Alston, Indiana University

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Book SynopsisThis thoroughly updated casebook is designed for chapter 11 bankruptcy courses, and also suitable for general courses focusing on business bankruptcy. The fourth edition retains the basic approach of the earlier editions.

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Book SynopsisProvides a logically ordered guide to the substantive law and practice, relating to corporate insolvency as it stands. The procedures for commencing and conducting various types of insolvency proceedings are set out alongside the legislation (the Insolvency Act 1986, the Insolvency Rules 1986 and the two Insolvency Acts of 1994).Table of ContentsCONTENTS; PART 1: INSOLVENCY LEGISLATION AND INSOLVENCY PRACTITIONERS; PART 2: WINDING UP OF COMPANIES BY THE COURT; PART 3: VOLUNTARY WINDING UP; PART 4: THE CONDUCT OF A LIQUIDATION; PART 5: ASSETS OF A COMPANY IN LIQUIDATION; PART 6: THE APPLICATION AND DISTRIBUTION OF THE ASSETS OF A COMPANY IN LIQUIDATION; PART 7: ADMINISTRATION ORDERS; PART 8: COMPROMISES AND ARRANGEMENTS; PART 9: REMEDIES OF A COMPANY'S SECURED CREDITORS

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Book SynopsisTrade Review...scathing. - The Kansas City Star ""...a well-researched, highly accessible look at troubling practices in corporate bankruptcy law."" - Booklist ""In a searing indictment of the U.S. Bankruptcy Court system, Lynn LoPucki paints a very unflattering picture of the results of bankruptcy court competition for big cases that began in the 1980s. Courting Failure is backed by years of research, hard numbers from LoPucki's web-based research database, and anecdotal evidence that should make some bankruptcy professionals, particularly bankruptcy judges, squirm."" - Turnarounds & Workouts Newswire

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Book SynopsisRuin and Redemption is the first full-length study of the origins of Canadian bankruptcy law, making it an important contribution to the study of Canada's commercial law.Trade Review'This is an excellent piece of scholarship.' -- Andrew Smith Journal of Legal History vol 37:2016 'Once established in the aftermath of the First World War, federal bankruptcy legislation in Canada has almost certainly become a permanent part of the economic landscape. Telfer's monumental study is the definitive explanation for how that important sea change came to pass.' -- Charles J. Tabb Law and History Review May 2016 'Tom Telfer deserves our congratulations for shining a light on what until now was an obscure and little-known episode in our legal history.' -- Roderick J. Wood Canadian Business Law Journal vol 57:03:2016 'Ruin and Redemption is a valuable addition to the excellent catalogue of the Osgoode Society for Canadian Legal History. It helps historians to better understand the legal structures involved in the regulation of debt and obligation.' -- Daniel Simeone Canadian Historical Review vol 96:02:2015 'Law students, professors, and those interested in Canadian history generally can all take away something of value from this book. Telfer's analysis is easy to follow... No legal background is required to derive insight from reading this book.' -- Sean Tessarolo Saskatchewan Law Review vol 78:2015Table of ContentsIllustrations Tables Abbreviations Preface Chapter 1: Ideas, Interests, and Institutions PART I 1867-1880 Chapter 2: The Constitutional and Legislative History 1867-1880 Chapter 3: The Rise and Fall of Bankruptcy Law 1867-1880: The Equitable Distribution of Assets Chapter 4: The Repeal of Bankruptcy Law 1867-1880: The Discharge Chapter 5: The Role of Institutions 1867-1880 PART II 1880-1903 Chapter 6: Living With Repeal and the Failure of Federal Reform: 1880-1903 Chapter 7: The Constitutional Question and the Impact of Federalism: 1880-1903 Chapter 8: The Bankruptcy Law Debates: 1880-1903 PART III 1903-1919 Chapter 9: Reform Achieved: The Bankruptcy Act of 1919 Chapter 10: Conclusion Appendix to Chapter 6 Bibliography

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Book SynopsisPacked with precedents, forms, checklists and statutory extracts, this book ensures you have readily to hand everything you need to prepare and present the most common insolvency applications. The new edition of this title will be an invaluable reference for all practitioners making insolvency applications in the Companies Court.Table of Contents1 Statutory Demand 2 Creditor’s Winding Up Petition against a UK Registered Company 3 Responding to a Creditor’s Petition: Notice to Attend at the Hearing of a Petition 4 Responding to a Statutory Demand: Application to Restrain the Presentation of a Petition 5 Responding to a Petition: Application to Restrain the Advertisement of a Petition 6 Responding to a Petition: Application for a Validation Order 7 Application to Rescind a Winding Up Order 8 Winding Up Petition on Just and Equitable Grounds 9 Permission to Act as a Director of a Company with a Prohibited Name 10 Application for an Administration Order 11 Application for Directions by an Administrator 12 Application by an Administrator to Sell Property Subject to Security 13 Application by a Creditor or Member Alleging Unfair Harm by an Administrator 14 Application by an Administrator to End the Administration 15 Application by a Secured Creditor to Enforce his Security/Bring Proceedings during an Administration 16 Application for Leave to Enforce Security or Seek Possession despite a Moratorium on a Creditors Voluntary Arrangement 17 Application to Appeal Decisions Made by the Chairman on a Meeting for a Creditors Voluntary Arrangement 18 Application to Challenge an Act or Decision of the Supervisor in a Creditors Voluntary Arrangement 19 Application by an Administrative Receiver for an Indemnity by Reason of the Invalidity of his Appointment 20 Application to Remove an Administrative Receiver from Office 21 Application for a Declaration that a Transaction is Invalidated by Virtue of Section 127 of the Insolvency Act 1986 22 Application to Set Aside a Transfer at an Undervalue 23 Application to Set Aside a Preference 24 Application for a Declaration that the Director has been Engaged in Fraudulent Trading 25 Application for a Declaration that the Director has been Engaged in Wrongful Trading 26 Application to Set Aside a Transaction Defrauding Creditors 27 Application under the Summary Procedure 28 Private Examinations 29 Appeal from an Order of a Registrar 30 Toolkit

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Book SynopsisThe third edition of Personal Insolvency Practice is a comprehensive starting point for all practitioners, whether solicitors or barristers. Up-to-date and practical, this book provides an easy to follow, âhow to do itâ guide for all the common court applications in personal insolvency.Table of ContentsForeword to the Third Edition Table of Cases Table of Statutes Table of Statutory Instruments Table of Practice Directions and Practice Notes Table of International Material Table of Forms and Guides 1 STATUTORY DEMAND Objective Statutory form Service Evidence Notes Key materials Section 268 of the Insolvency Act 1986 Rules 10.1–10.3 of the Insolvency (England and Wales) Rules 2016 Precedents 1.1 Creditor’s statutory demand 1.2 Certificate of personal service 2 APPLICATION TO SET ASIDE A STATUTORY DEMAND Objective Application Court fees Time limit Evidence Key materials Rules 10.4 and 10.5 of the Insolvency (England and Wales) Rules 2016 Precedent 2.1 Application to set aside a statutory demand 3 CREDITOR’S BANKRUPTCY PETITION Objective Expediting the petition and the hearing Petition Evidence Court fees Service Hearing Withdrawal or dismissal Key materials Sections 264–271 of the Insolvency Act 1986 Rules 10.6–10.17, 10.20–10.26 and 10.30 of the Insolvency (England and Wales) Rules 2016 Precedents 3.1 Bankruptcy petition 3.2 Witness statement verifying the bankruptcy petition 3.3 List of appearances 3.4 Certificate of continuing debt 4 RESPONDING TO A CREDITOR’S PETITION: NOTICE TO ATTEND AT THE HEARING OF A PETITION Objective Notice of intention to appear Court fees Service Key materials Rules 10.17–10.19, 10.27 and 10.29–10.30 of the Insolvency (England and Wales) Rules 2016 Precedents 4.1 Notice by debtor of intention to oppose bankruptcy petition 4.2 Witness statement in opposition to the petition for bankruptcy 5 RESPONDING TO A PETITION: APPLICATION FOR A VALIDATION ORDER Objective Application Court fees Evidence Service Key materials Section 284 of the Insolvency Act 1986 Paragraph 14.8 of the CPR Practice Direction – Insolvency Proceedings Precedents 5.1 Ordinary application for a validation order pursuant to section 284 of the Insolvency Act 1986 5.2 Draft validation order 5.3 Debtor’s witness statement in support of an application for a validation order 5.4 Accountant’s witness statement in support of an application for a validation order 6 APPLICATION TO ANNUL A BANKRUPTCY ORDER Objective Application Court fees Evidence Service Report by trustee Applicant’s claim that remuneration is or expenses are excessive Hearing Key materials Sections 261 and 282 of the Insolvency Act 1986 Rules 10.132–10.141 of the Insolvency (England and Wales) Rules 2016 Precedents 6.1 Application for annulment under section 282(1)(b) of the Insolvency Act 1986 6.2 Draft order for annulment under section 282(1)(b) of the Insolvency Act 1986 6.3 Witness statement in support of an application for annulment under section 282(1)(b) of the Insolvency Act 198 7 APPLICATION TO RESCIND A BANKRUPTCY ORDER Objective Application Court fees Evidence Service Key materials Section 375 of the Insolvency Act 1986 Precedents 7.1 Application for rescission under section 375 of the Insolvency Act 1986 7.2 Draft order for rescission under section 375 of the Insolvency Act 1986 7.3 Witness statement in support of an application for rescission under section 375 of the Insolvency Act 1986 8 APPLICATION FOR PERMISSION TO ACT AS A DIRECTOR OF A COMPANY NOTWITHSTANDING BANKRUPTCY Objective Application Court fees Evidence Service Official Receiver’s report Hearing Key materials Section 11 of the Company Directors Disqualification Act 1986 Rules 9.25–9.27 of the Insolvency (England and Wales) Rules 2016 Precedents 8.1 Application for permission under section 11 of the Company Directors Disqualification Act 1986 8.2 Draft order for permission under section 11 of the Company Directors Disqualification Act 1986 8.3 Witness statement in support of an application for permission under section 11 of the Company Directors Disqualification Act 1986 9 APPLICATION FOR DIRECTIONS BY A TRUSTEE IN BANKRUPTCY Objective Application Court fees Evidence Service First hearing Key materials Section 303(2) of the Insolvency Act 1986 Precedents 9.1 Ordinary application for directions by the trustee in bankruptcy 9.2 Witness statement in support of an application for directions 9.3 Order on the trustee’s application for directions 10 APPLICATION TO APPOINT AN INTERIM RECEIVER Objective Application Court fees Evidence Service Hearing Key materials Section 286 of the Insolvency Act 1986 Rules 10.49–10.54 of the Insolvency (England and Wales) Rules 2016 Precedents 10.1 Application for the appointment of an interim receiver 10.2 Witness statement in support of an application for an interim receiver 10.3 Draft order appointing an interim receiver 11 APPLICATION FOR COMPENSATION AGAINST A TRUSTEE IN BANKRUPTCY Objective Application Court fees Evidence Service First hearing Key materials Section 304 of the Insolvency Act 1986 Precedents 11.1 Application for compensation against a trustee in bankruptcy 11.2 Witness statement in support of an application for compensation against a trustee in bankruptcy 11.3 Declaration that there has been a breach of duty by a trustee in bankruptcy 12 APPLICATION FOR AN ORDER FOR THE SALE OF THE BANKRUPT’S HOME Objective Application Court fees Evidence First hearing Service Key materials Sections 283A, 313A, 335A, 336, 337 and 338 of the Insolvency Act 1986 Rules 10.121–10.124 and 10.167–10.170 of the Insolvency (England and Wales) Rules 2016 Precedents 12.1 Application for a declaration of interest and order for sale of the bankrupt’s matrimonial home 12.2 Witness statement in support of an application for a declaration of interest in and order for sale of the bankrupt’s matrimonial home 12.3 Declaration of interest and order for sale of the bankrupt’s matrimonial home 13 APPLICATION FOR AN INTERIM ORDER IN SUPPORT OF AN INDIVIDUAL VOLUNTARY ARRANGEMENT Objective Application Court fees Evidence Service Steps following the making of an interim order Further directions Key materials Sections 252–256 of the Insolvency Act 1986 Rules 8.8–8.18 of the Insolvency (England and Wales) Rules 2016 Precedents 13.1 Ordinary application for an interim order 13.2 Witness statement in support of an application for an interim order 13.3 Interim order of court under section 252 of the Insolvency Act 1986 14 APPLICATION FOR LEAVE TO ENFORCE SECURITY OR SEEK POSSESSION DESPITE AN INTERIM ORDER Objective Application Court fees Evidence Service Key materials Section 254 of the Insolvency Act 1986 Precedents 14.1 Ordinary application for permission to enforce security despite an interim order 14.2 Witness statement in support of an application for permission to enforce security despite an interim order 14.3 Order for permission to enforce security despite an interim order 15 APPLICATION TO CHALLENGE DECISIONS MADE BY A MEETING FOR AN INDIVIDUAL VOLUNTARY ARRANGEMENT Objective Application Court fees Evidence Service Key materials Sections 262–262B of the Insolvency Act 1986 Rules 8.22–8.24 of the Insolvency (England and Wales) Rules 2016 Precedents 15.1 Application for an order revoking a decision made by the creditors’ meeting in an individual voluntary arrangement 15.2 Witness statement in support of an application for an order revoking a decision made by the creditors’ meeting in an individual voluntary arrangement 15.3 Draft order revoking a decision made by the creditors’ meeting in an individual voluntary arrangement 16 APPLICATION TO CHALLENGE DECISIONS IN RESPECT OF A DEBT RELIEF ORDER Overview Application Court fees Evidence Service Key materials Sections 251M and 251X of the Insolvency Act 1986 Rules 9.14 and 9.21–9.22 of the Insolvency (England and Wales) Rules 2016 Precedents 16.1 Ordinary application for an order revoking a debt relief order 16.2 Witness statement in support of an application for an order revoking a debt relief order 16.3 Draft order revoking a debt relief order 17 APPLICATION FOR AN INCOME PAYMENT ORDER Objective Application Court fees Evidence Service Key materials Sections 310–310A of the Insolvency Act 1986 Rules 10.109–10.114 of the Insolvency (England and Wales) Rules 2016 Precedents 17.1 Application for an income payment order pursuant to section 310 of the Insolvency Act 1986 17.2 Witness statement in support of an application for an income payment order 17.3 Income payment order 18 APPLICATION FOR A PRIVATE EXAMINATION Objective Application Court fees Service Witness statement First hearing Return date Warrant for arrest Key materials Sections 366–369 of the Insolvency Act 1986 Rules 12.17–12.22 of the Insolvency (England and Wales) Rules 2016 Precedents 18.1 Letter requesting documents before an application is made for a private examination 18.2 Application for a private examination 18.3 Witness statement in support of an application for a private examination 18.4 Order for private examination 18.5 Warrant for the arrest of the examinee on his failure to attend a private examination 19 APPLICATION FOR A DECLARATION THAT A TRANSACTION IS INVALIDATED BY VIRTUE OF SECTION 284 OF THE INSOLVENCY ACT 1986 Objective Application Court fees Evidence Service First hearing Key materials Section 284 of the Insolvency Act 1986 Precedents 19.1 Application for a declaration of invalidity of a transfer pursuant to section 284 of the Insolvency Act 1986 19.2 Witness statement for a declaration that the transaction is invalidated by section 284 of the Insolvency Act 1986 19.3 Declaration that a transaction is invalidated pursuant to section 284 of the Insolvency Act 1986 20 APPLICATION TO SET ASIDE A TRANSACTION AT AN UNDERVALUE Objective Application Court fees Evidence Service First hearing Key materials Sections 339, 341–342 and 435 of the Insolvency Act 1986 Precedents 20.1 Application for a declaration that a payment is a transaction at an undervalue pursuant to section 339 of the Insolvency Act 1986 20.2 Witness statement to set aside a transaction at an undervalue pursuant to section 339 of the Insolvency Act 1986 20.3 Declaration that a payment is a transaction at an undervalue pursuant to section 339 of the Insolvency Act 1986 21 APPLICATION TO SET ASIDE A PREFERENCE Objective Application Court fees Evidence Service First hearing Key materials Sections 340–342 and 435 of the Insolvency Act 1986 Precedents 21.1 Application for a declaration of a preference pursuant to section 340 of the Insolvency Act 1986 21.2 Witness statement for a declaration of a preference pursuant to section 340 of the Insolvency Act 1986 21.3 Declaration of a preference pursuant to section 340 of the Insolvency Act 1986 22 APPLICATION TO SET ASIDE A TRANSACTION DEFRAUDING CREDITORS Objective Claim Court fees Evidence Key materials Sections 423–425 of the Insolvency Act 1986 Precedents 22.1 Claim for a declaration that a payment is a transaction defrauding creditors pursuant to section 423 of the Insolvency Act 1986 22.2 Particulars of claim in support of a claim to set aside a fraudulent transaction pursuant to section 423 of the Insolvency Act 1986 22.3 Witness statement to set aside a fraudulent transaction pursuant to section 423 of the Insolvency Act 1986 22.4 Declaration that a payment is a transaction defrauding creditors pursuant to section 423 of the Insolvency Act 1986 23 APPEAL Objective Appeal notice Court fees Service Respondent’s notice Appeal bundle Time limits Key materials Part Four of the CPR Practice Direction – Insolvency Proceedings Rules 12.58 and 12.61 of the Insolvency (England and Wales) Rules 2016 Schedule 10 to the Insolvency (England and Wales) Rules 2016 24 TOOLKIT Issuing proceedings in the Royal Courts of Justice Courts Electronic Filing – CE-File County court or High Court? Insolvency and Companies Court judge or High Court judge? Urgent applications Evidence Bundles Time estimates Skeleton arguments Useful email addresses The Royal Courts of Justice The County Court at Central London Court dress Court fees Key materials Rules 1.5, 1.6, 1.35, 10.11 and 12.5 of the Insolvency (England and Wales) Rules 2016 Schedule 4 to the Insolvency (England and Wales) Rules 2016 Schedule 5 to the Insolvency (England and Wales) Rules 2016 Schedule 6 to the Insolvency (England and Wales) Rules 2016 Parts One and Three of the CPR Practice Direction – Insolvency Proceedings Precedents 24.1 Blank application form 24.2 Certificate of urgency 24.3 Bankruptcy petition on default of a voluntary arrangement 24.4 Creditor’s bankruptcy petition on failure to comply with a statutory demand for a liquidated sum payable at a future date 24.5 Creditor’s bankruptcy petition on failure to comply with a statutory demand for a liquidated sum payable immediately 24.6 Creditor’s bankruptcy petition where execution or other process on a judgment has been returned in whole or part 24.7 Debtor’s notice of opposition 24.8 List of appearances 24.9 Notice of persons intending to appear 24.10 Statutory demand under section 268(1)(a) of the Insolvency Act 1986. Debt for liquidated sum payable immediately following a judgment or order of the court 24.11 Statutory demand for a liquidated sum 24.12 Statutory demand for a debt payable at a future date 24.13 Listing certificate for a non-attendance pre trial review Index

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Book Synopsis'Charging Orders on Land: Law, Practice and Precedents' is an authoritative and practical guide to the issues of enforcement of money judgments by obtaining a charging order over the debtorâs property and then an order for sale.. This edition also contains a new chapter on insolvency regimes.Table of ContentsForeword to the Second Edition; Foreword to the First Edition; List of Abbreviations; Civil and Family Procedure Rules – Comparison Tables; Table of Cases; Table of Statutes; Table of Statutory Instruments; Table of European Conventions 1 INTRODUCTION Introduction Overview of charging orders Brief history of charging orders 2 CIRCUMSTANCES FOR OBTAINING A CHARGING ORDER Introduction Who can apply for a charging order? Property which may be charged Exercise of the court’s discretion Commercial Rent (Coronavirus) Act 2022 Breathing Space Moratorium and Mental Health Crisis Moratorium 3 PROCEDURE FOR OBTAINING A CHARGING ORDER Procedural framework Application to the court Interim charging order Final charging order Insolvency restrictions Basic procedure tables 4 PRIORITIES AND PROBLEMS Basic rule of priority Types of interest over which a charging order can be made Protection of priority under the Land Registration Act 2002 Charging orders, mortgages and sales Other priority problems 5 DISCHARGE OR VARIATION OF A CHARGING ORDER Introduction Grounds which are open to particular applicants Grounds for discharge Grounds for variation Procedure in the courts The procedure on a reference to the First-tier Tribunal Basic procedure table 6 ENFORCEMENT Introduction Court’s jurisdiction and the appropriate court Orders for sale Appointment of a receiver Limitation 7 OTHER TYPES OF CHARGING ORDER Council Tax (Administration and Enforcement) Regulations 1992 Solicitors Act 1974, section 73 Insolvency Act 1986, section 313 Agricultural Holdings Act 1986, sections 85, 86 and 87 Landlord and Tenant Act 1927 Partnership Act 1890, section 23 Road Traffic Act 1991 Child Support Act 1991, sections 33 and 36 Mental Capacity Act 2005, section 18 Housing Act 2004, sections 49 and 50, Schedule 13 Highways Act 1980 Legal Aid, Sentencing and Punishment of Offenders Act 2012 8 INSOLVENCY Introduction Definition of insolvency Overview of individual insolvency procedures The debt respite scheme Overview of corporate insolvency procedures Insolvency restrictions APPENDICES PART A – STATUTORY MATERIAL A1 Charging Orders Act 1979 A2 Civil Procedure Rules, Part 73, Section I A3 Civil Procedure Rules, Practice Direction 73, Section I and Appendix A A4 Family Procedure Rules, Part 40 A5 Family Procedure Rules, Practice Direction 40A, Section I PART B – PRECEDENTS B1 Completed Specimen Form N379: Application for Charging Order on Land B2 Completed Specimen Form FE6: Application for Charging Order on Land B3 Completed Specimen Form N86: Interim Charging Order – Court Order B4 Witness Statement to Oppose Making of Final Charging Order B5 Order for Discharge of Charging Order where No Final Order Made B6 Completed Specimen Form N87: Final Charging Order – Court Order B6A Suggested wording for an application for a non-standard restriction B7 Standard Order 4.13 B8 Standard Order 4.14 B9 Form N244: Application Notice B10 Witness Statement in Support of Application to Discharge Final Charging Order B11 Draft Order for Discharge of Charging Order after Final Charging Order Made B12 Completed Specimen Claim Form (CPR Part 8): Application to Enforce Charging Order by Means of Order for Sale – I B13 Completed Specimen Claim Form (CPR Part 8): Application to Enforce Charging Order by Means of Order for Sale – II B14 Witness Statement in Support of Application for Sale – I B15 Witness Statement in Support of Application for Sale – II B16 Standard Form of Charging Order (Bankruptcy) B17 Draft Directions B18 Order: Joint Owners Tenanted B19 Order: Sole Legal Owner Overseas Entity Tenanted Index

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Book SynopsisThe subject of bank stability has been under a great amount of political and legislative scrutiny since the mid-2007 to late-2009 global financial crisis. However, these efforts have centred on developed economies. Little coverage is given to strategies adopted by many developing economies. While there is a global discourse on the subject of insolvency generally, there is ample scope to contribute to the growing body of work on the narrow subject of bank insolvencies. This book provides a unique perspective on an emerging theme in at least two respects. First is the focus on selected developing economies and selected developed economies in the EMEA region alongside cross-border developments, with the objective of deciphering the regulatory approach to bank insolvencies. The second is the analytical consideration of methods that may be implemented to preclude or resolve bank insolvencies in developing economies. This book explores the nexus between developing economies and their bankTable of Contents♦ Foreword Andrew Campbell ♦ Acknowledgement ♦ Dedication Part IBank Insolvencies in Developing Economies1. Prologue - The Management of Distressed Banks in Developing Economies Kayode Akintola & Folashade Adeyemo2. Distressed Banks and Asset Management Companies: Evaluating ‘AMCON’ as a Bank Resolution Tool for Managing Non-Performing Loans in Nigeria Anthony Idigbe3. Unravelling the Mystery behind Bank Insolvencies in the East African Community (EAC) – The case for Uganda, Kenya and Tanzania Hamiisi Nsubuga4. Towards Early Intervention in the Resolution of Banks’ Financial Distress in in Ghana Kenneth Ghartey5. Deposit Protection Schemes in Effective Bank Resolution Regimes: Kenya’s Experience Joy MalalaPart IIBank Insolvency Law: Selected Cross-Border Paradigms 6. Institutional Development of the Dubai International Financial Centre and the Qatar Financial Centre: The Insolvency Law Framework Horace Yeung & Saleh Al-Brashidi7. Cyprus after the 2013 Banking Crisis: The Journey towards Recovery Sofia Ellina8. Bank Insolvencies and the UNCITRAL Model Law Clara Souza & Pedro FerreirinhaPostscript♦ (Re-)Balancing the Priorities of Bank Insolvency Law in Developing Economies Kayode Akintola

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Book SynopsisThe second edition of the first and only concise introduction to American business insolvency law, this volume provides a succinct overview of American business bankruptcy as it is actually practiced, integrating the law as written and implemented, and now includes coverage of the Small Business Reorganization Act.Trade Review‘The author’s second edition of his primer on American Business Bankruptcy provides a concise and accessible description of the key chapters of the US Bankruptcy Code. This book would be quite useful to students of insolvency law and indeed anyone who wishes to develop a working knowledge of the key aspects of the American insolvency framework. It is direct and clear, while also providing enough depth and discussion that it would also be useful from a comparative perspective. It is a very practical synthesis which, in the second edition, integrates the recent Small Business Reorganisation Act.’ -- Jennifer L.L. Gant, eurofenix‘Stephen Lubben has provided the go-to overview of the American business bankruptcy system. American Business Bankruptcy is the ideal book for anyone looking to understand the overall design of business restructuring in the United States.’ -- Adam Levitin, Georgetown University Law Center, USTable of ContentsContents: Preface PART I BUSINESS BANKRUPTCY BASICS 1. Some historical context 2. The central core of business bankruptcy – section 109 PART II ELEMENTS COMMON TO ALL BUSINESS BANKRUPTCIES 3. The estate and the automatic stay 4. Creditors’ claims against the estate 5. Executory contracts and unexpired leases 6. The avoidance powers PART III LIQUIDATION UNDER CHAPTER 7. An introduction to chapter 7 of the Bankruptcy Code 8. The chapter 7 trustee 9. Distributing the chapter 7 estate 10. Special chapter 7 cases PART IV REORGANIZATION UNDER CHAPTER 11 11. An introduction to chapter 11 of the Bankruptcy Code 12. Stabilizing the debtor’s business in chapter 11 13. Committees 14. Professionals 15. The plan – formulation and voting 16. The plan – confirmation (consensual) 17. The plan – confirmation (cramdown) 18. 363 sales 19. Prepacks 20. The effects of plan confirmation 21. Small businesses in chapter 11 PART V TRANSNATIONAL BUSINESS BANKRUPTCY UNDER CHAPTER 22. An introduction to chapter 15 of the Bankruptcy Code Index

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Book SynopsisThis unique book provides readers with a concise yet rigorous outline of the English corporate insolvency framework as it is practised in domestic and cross-border cases. In doing so, this primer provides clear and accessible guidance on what is often considered to be a highly technical subject.Trade Review‘To simplify access to this world, but in an intelligent, yet comprehensive, way comes this primer, written by two young scholars in the field, whose publications have become increasingly noteworthy in the way they challenge orthodoxies and provide fresh insights into the objects of their research. This attention to detail and how best to inculcate an understanding of the subject prompts this work, whose content, in five parts, addresses the broad structure of the topic from an introduction to the field, liquidation and receivership, rescue procedures, directorial misconduct and the international dimension of procedures.’ -- Paul Omar, INSOL Europe‘The book English Corporate Insolvency Law is, as its subtitle says, a primer. It offers an introduction and analysis guide and update readers with the recently significantly revised English corporate insolvency rules and procedures. Readers will not be disappointed as it gives a well-reasoned overview of the full system, including references to case law and literature.’ -- Bob Wessels blog‘English Corporate Insolvency Law: A Primer by Eugenio Vaccari and Emilie Ghio is a welcome addition to the literature on corporate insolvency and restructuring. It is written in a very accessible, yet detailed and thoughtful, manner. The authors are justly known as academic experts in this field and have many publications to their credit. In that light, this work should receive due attention as a primer for all those wishing to embark on the study or appreciation of this fascinating and highly topical subject.’ -- Paul Omar, De Montfort University, UKTable of ContentsContents: Preface PART I INTRODUCTION TO CORPORATE INSOLVENCY LAW 1. The financial context of insolvency 2. The roots and history of insolvency law 3. The institutional setting PART II LIQUIDATION, RECEIVERSHIP AND DISTRIBUTION OF ASSETS 4. Liquidation 5. Administrative receivership 6. Gathering and distributing assets and dividends PART III RESCUE PROCEDURES 7. Administration 8. Management of companies in distress and CVAs 9. Restructuring procedures PART IV INVESTIGATING AND SUPPRESSING MISCONDUCT 10. Directors’ duties 11. Malpractice before and during liquidation (and administration) 12. Adjustment or avoidance of prior transactions 13. Criminal offences 14. Disqualification and personal liability PART V CROSS-BORDER INSOLVENCY LAW 15. The theoretical underpinnings of cross-border insolvency law 16. The international and European frameworks for cross-border insolvency law 17. The domestic framework for cross-border insolvency cases Index

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Book SynopsisThis new edition of Corporate Insolvency Law builds on the unique and influential analytical framework established in previous editions - which outlines the values to be served by insolvency law and the need for it to further corporate as well as broader social ends. Examining insolvency law in the fast-evolving commercial world, the third edition covers the host of new laws, policies and practices that have emerged in response to the fresh corporate and financial environments of the post-2008 crisis era. This third edition includes a new chapter on the growing issue of cross border insolvency and deals with a host of recent developments, notably; the consolidation of the rescue culture in the UK, the rise of the pre-packaged administration, and the substantial replacement of administrative receivership with administration. Suitable for advanced undergraduate and graduate students, professionals and academics, Corporate Insolvency Law offers an organised basis for rising to the challenTable of ContentsPart I. Agendas and Objectives: 1. The roots of corporate insolvency law; 2. Aims, objectives and benchmarks; Part II. The Context of Corporate Insolvency Law: Financial and Institutional: 3. Insolvency and corporate borrowing; 4. Corporate failure; 5. Insolvency practitioners and turnaround professionals; Part III. The Quest for Turnaround: 6. Rescue; 7. Informal rescue; 8. Receivers and their role; 9. Administration; 10. Pre-packaged administrations; 11. Company arrangements; 12. Rethinking rescue; Part IV. Gathering and Distributing the Assets: 13. Gathering the assets: the role of liquidation; 14. The pari passu principle; 15. Bypassing pari passu; Part V. The Impact of Corporate Insolvency: 16. Directors in troubled times; 17. Employees in distress; 18. Cross border insolvency; 19. Conclusion.

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Book SynopsisWhen States Go Broke discusses the ongoing fiscal crisis among the American states. No one disagrees with the idea that the states face enormous political and fiscal challenges. This volume fills an important gap in the dialogue by offering an academic analysis of the many issues broached by these debates.Trade Review"Well-written and cohesive....Editors Conti-Brown and Skeel did a fine job ensuring that a diversity of perspectives were represented, both disciplinary (economists, political scientists, lawyers) and professional/political (academics, a union lawyer, a conservative think tank scholar....Recommended." --ChoiceTable of ContentsPart I. The Problem: The States in Fiscal Crisis: 1. Fiscal constitutions and fiscal crises: a history Isabel Rodriguez-Tejedo and John Wallis; 2. Obligations without the power to fund them: the origins, consequences, and possible solution to the fiscal crisis of the states Damon Silvers; 3. Public pension pressures in the United States Olivia Mitchell; 4. Structural challenges in state budgeting Josh Barro; Part II. The Legal and Political Context of Public Debt: 5. What states can learn from municipal insolvency Clayton Gillette; 6. Market discipline and US federalism Jonathan Rodden; 7. American states and sovereign debt restructuring: lessons and cautionary tales Adam Feibelman; Part III. Evaluating Solutions: 8. State bankruptcy from the ground up David Skeel; 9. Fiscal federalism and the limits of bankruptcy Adam Levitin; 10. Extending bankruptcy law to states: is it constitutional? Michael McConnell; 11. Bankruptcy for the states and by the states George Triantis; 12. Labor and the states' fiscal problems: not the problem but perhaps part of the solution Catherine Fisk and Brian Olney.

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Book SynopsisThe thousands of mergers, acquisitions, and start-ups that have characterized the past years of business have created an increasing number of corporations in financial trouble: specifically, a shortage of venture capital or quick cash. Consequently, bankruptcy protection is now viewed as a strategic move to protect corporations from their creditors and allow them to reorganize. Fully revised and updated with new case studies and the latest coverage of regulations, Bankruptcy and Insolvency Taxation, Fourth Edition provides the answers to the questions financial managers will have on the tax aspects of bankruptcy strategy.Table of ContentsPreface ix Chapter One: Nature of Bankruptcy and Insolvency Proceedings 1 1.1 Objectives 2 1.2 Alternatives Available to a Financially Troubled Business 4 Chapter Two: Discharge of Indebtedness 27 2.1 Introduction 30 2.2 Discharge of Indebtedness Income 30 2.3 Determination of Discharge of Indebtedness Income 31 2.4 Section 108(e) Additions to Discharge of Indebtedness Income 46 2.5 Section 108(e) Subtractions from Discharge of Indebtedness Income 66 2.6 Discharge of Indebtedness Income Exclusions 71 2.7 Consequences of Qualifying for Section 108(a) Exclusions 81 2.8 Section 108(i) Deferral and Ratable Inclusion of DOI from Business Indebtedness Discharged by the Reacquisition of a Debt Instrument 97 2.9 Use of Property to Cancel Debt 106 2.10 Consolidated Tax Return Treatment 117 2.11 Discharge of Indebtedness Reporting Requirements 138 Chapter Three: Partnerships and S Corporations: Tax Impact of Workouts and Bankruptcies 143 3.1 Introduction 144 3.2 Partnerships 144 3.3 S Corporations 161 Chapter Four: Taxation of Bankruptcy Estates and Debtors 173 4.1 Introduction 174 4.2 Responsibility for Filing Income Tax Returns 174 4.3 Accounting for the Bankruptcy Estate 177 4.4 Accounting for the Debtor (Individual) 215 4.5 Summary 228 Chapter Five: Corporate Reorganizations 231 5.1 Introduction 232 5.2 Elements Common to Many Reorganization Provisions 233 5.3 Overview of Specific Tax-Free Reorganizations under Section 368 249 5.4 Acquisitive Asset Reorganizations 249 5.5 Stock Acquisitions 261 5.6 Single-Entity Reorganizations 270 5.7 Divisive Reorganizations 275 5.8 Insolvency Reorganizations 286 5.9 Summary 309 Chapter Six: Use of Net Operating Losses 311 6.1 Introduction 313 6.2 I.R.C. Section 381 315 6.3 Restructuring under Prior I.R.C. Section 382 320 6.4 Current I.R.C. Section 382 322 6.5 I.R.C. Section 383: Carryovers Other than Net Operating Losses 396 6.6 I.R.C. Section 384 397 6.7 I.R.C. Section 269: Transactions to Evade or Avoid Tax 401 6.8 Libson Shops Doctrine 406 6.9 Consolidated Return Regulations 407 Chapter Seven: Other Corporate Issues 425 7.1 Introduction 426 7.2 Earnings and Profits 426 7.3 Incorporation 430 7.4 Liquidation 434 7.5 I.R.C. Section 338 440 7.6 Limited Liability Corporation 454 7.7 Other Tax Considerations 454 7.8 Administrative Expenses 457 7.9 Other Administrative Issues 465 Chapter Eight: State and Local Taxes 471 8.1 Introduction 471 8.2 Bankruptcy Estates 472 8.3 Stock for Debt 479 8.4 Cancellation of Indebtedness 479 8.5 Net Operating Loss Carryback and Carryover 480 8.6 Stamp Tax 481 8.7 Tax Impact of Plan for State and Local Purposes 485 Chapter Nine: Tax Consequences to Creditors of Loss from Debt Forgiveness 487 9.1 Introduction 488 9.2 Nature of Losses 488 9.3 Business and Nonbusiness Losses 490 9.4 Determination of Worthlessness 501 9.5 Secured Debt 509 9.6 Reorganization 516 Chapter Ten: Tax Procedures and Litigation 519 10.1 Introduction 520 10.2 Notice and Filing Requirements 520 10.3 Tax Determination 521 10.4 Bankruptcy Courts 575 10.5 Minimization of Tax and Related Payments 578 Chapter Eleven: Tax Priorities and Discharge 581 11.1 Introduction 582 11.2 Priorities 582 11.3 Tax Discharge 635 Chapter Twelve: Tax Preferences and Liens 669 12.1 Introduction 669 12.2 Tax Preferences 669 12.3 Tax Liens 675 About the Authors 703 About the Web Site 704 Statutes Citations 705 Treasury Regulations, Revenue Procedures, and Revenue Rulings Citations 714 Case Index 722 Subject Index 732

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Book SynopsisThis book covers key material for Scots commercial law courses.

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Book SynopsisThe series that BarCharts was built upon. For those in law school facing loads of information that culminates in the Bar Exam.

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Book SynopsisThe study is a result of a collaborative research project addressing “The Implementation of the New Insolvency Regulation – Improving Cooperation and Mutual Trust”. The project was undertaken by the Max Planck Institute Luxembourg for Procedural Law, the University of Vienna and the University of Milan, and co-funded by the European Union as part of the Commission’s Action Grants 2013 for Civil Justice. The focus of the study concerns specific issues of cross-border insolvencies under the recast of the Insolvency Regulation which already has been prepared by a large part of the contributing authors in the Heidelberg-Vienna-Luxembourg Report. The study is comprised of three major topics: 1.The Regulation’s extended scope of application, including pre-insolvency and hybrid proceedings, the relationship between Article 1(1) of the Regulation and its Annex A, as well as the interplay between the Insolvency Regulation and the Brussels Ibis Regulation; 2.the cooperation between main and secondary insolvency proceedings, the new instruments, such as “synthetic proceedings”, destined to avoid or postpone the opening of secondary proceedings, further the cooperation between administrators and courts of different proceedings as well as protocols to enhance cooperation; 3.insolvencies of groups of companies, with a particular focus on jurisdiction, COMI-migration, “group coordination proceedings” and other instruments of coordination.Trade ReviewThis book is particularly recommended for practitioners and members of European and domestic bodies working on regulatory reforms and issues in the field of both corporate and personal insolvency law. The practice-orientated approach of the book makes it particularly suitable for a professional audience. -- Eugenio Vaccari * Journal of International Banking Law and Regulation *

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Book SynopsisThis book provides an in-depth analysis of 4 economically significant Asian jurisdictions: Mainland China, India, Hong Kong and Singapore. These jurisdictions have recently either reformed – or are considering reforming – their corporate restructuring laws to promote regimes conducive to restructuring financially distressed, but otherwise economically viable, companies. Mainland China, India, Hong Kong and Singapore continue to adhere to a framework that requires the court’s final approval but draw references from Chapter 11 of the Bankruptcy Code 1978 in the United States and/or the schemes of arrangement in the United Kingdom. However, the institutional and market structures are very different in Asia; in particular, Asia has a far higher concentration in shareholdings among listed firms, including holdings by families and the state, and a different composition of creditors. The book explains how, notwithstanding the legal transplantation, corporate restructuring laws in these Asian jurisdictions have adapted and evolved due to the frictions in shareholder-creditor and creditor-creditor relationships, and the role of the state in resolving non-performing loans and financial distress of state-owned enterprises which are listed, or which issue public debt. The study argues that any reforms must go beyond professionalising the insolvency professionals and the judiciary but must be designed to address fundamental issues of corporate governance, bank regulation and enforcing non-bankruptcy rules. It offers invaluable insights for academics and policy makers alike.Trade ReviewMeticulously researched, well presented, and thoroughly referenced, this book represents a major contribution to insolvency scholarship. It will also be valuable to those with a more general interest in corporate restructuring laws as well as insolvency laws in Asia. The methodology will be of interest to comparative law scholars in Asia, the UK, and the US, not only to those with an interest in insolvency law. The book is an extremely valuable addition to the Hart Series on Contemporary Studies in Corporate Law. -- Jingchen Zhao, Nottingham Trent University * International Insolvency Review *This book plugs a significant gap in the literature concerning restructuring and insolvency law and policy in Asia and will be a valuable resource for academics, practitioners, and those who engage in policy formulation and law reform. -- Andrew Godwin, University of Melbourne * The Chinese Journal of Comparative Law *In this excellent new book Professor Wan critically analyses the development of corporate restructuring law in four Asian jurisdictions: Hong Kong, Singapore, Mainland China, and India. Her controlling argument is that all of these jurisdictions have borrowed ideas from corporate restructuring law in the US and the UK, but that the organisational and institutional environment is very different in each of them so that adaptations are necessary for the legal transplants to flourish in their new soil. The book makes a highly significant contribution to the literature ... What emerges is a fascinating, readable, rigorous, and highly compelling piece of research. * Sarah Paterson, Professor of Law, London School of Economics and Political Science, UK *Professor Wan’s new book provides a fascinating deep dive into the insolvency regimes of China, Hong Kong, India, and Singapore. Professor Wan traces the evolution of each regime and highlights the influence that American and English systems had on that evolution. In doing so, she develops a new framework for measuring the success of restructuring laws and persuasively challenges the idea that American and English principles of restructuring can simply be transplanted to any jurisdiction regardless of local institutions and laws. This book is a must read for anyone interested in the law of corporate restructuring or comparative law more generally. * Anthony J Casey, Donald M Ephraim Professor of Law and Economics, University of Chicago, USA *In this masterful monograph, Professor Wai Yee Wan combines economic analysis with detailed institutional knowledge to assess the application of American- and British-style business reorganization law to the economies and legal environments of Mainland China, Hong Kong, India, and Singapore. Her book is rich in comparative information on these four Asian legal regimes, and she offers insightful conclusions and persuasive recommendations. Of particular importance is her original analysis of the challenges of the employment of an Anglo-American reorganization model in jurisdictions whose businesses are, as contrasted with those in the US and UK, characterized by concentrated share holdings. * Richard Squire, Professor of Law & Alpin J Cameron Chair in Law, Fordham Law School, USA *This book presents a theoretically rich and intellectually stimulating account of corporate restructuring in Hong Kong, Singapore, India and Mainland China. The corporate insolvency regimes of these jurisdictions have all been influenced to differing degrees by Anglo-American models. Wan interrogates the appropriateness of this in the very different economic and social context of business practice in these four Asian economies. Through careful examination of relevant law and the use of empirical data, she identifies a number of key differences that pull towards the need for these jurisdictions to consider their own policy imperatives and possible reforms. * Sally Wheeler OBE, Robert Garran Professor of Law, Australian National University, Australia *Table of Contents1. Introduction and Theoretical Framework 1.1. Overview 1.2. Restructuring Models in Anglo-America and Asia 1.3. Understanding the Interaction between Corporate Governance and Restructuring Law 1.4. Building an Analytical Framework 1.5. Methodology 1.6. Organisation of the Book 2. Development of Corporate Restructuring Law in Four Asian Jurisdictions 2.1. Introduction 2.2. Emerging Jurisdictions 2.3. Advanced Jurisdictions 2.4. Conclusion 3. The Agency Costs of Manager–Creditor and Shareholder–Creditor Relationships in Restructuring 3.1. Introduction 3.2. Institutional and Organisational Background 3.4. Addressing Information Asymmetry and Hold-Out Problems in Asian Restructurings 3.5. Enhancing the Restructuring Regime: Lessons and Implications 3.6. Conclusion 4. The Agency and Coordination Costs of Creditor–Creditor Relationships in Restructuring 4.1. Introduction 4.2. Institutional and Organisational Background 4.3. Strategies to Deal with Agency and Coordination Costs of Creditor–Creditor Conflicts in Anglo-American Restructurings 4.4. The Features of Asian Restructurings 4.5. Enhancing the Restructuring Regime in Asia: Lessons and Implications 4.6. Conclusion 5. Managing Non-Performing Loans and their Impact on Agency and Coordination Costs in Two Emerging Jurisdictions 5.1. Introduction 5.2. Institutional and Organisational Background in the International Context for Resolving NPLs 5.3. Institutional Background to NPLs in India and Mainland China 5.4. AMCs and Variations to Agency and Coordination Costs in Restructuring 5.5. Developing Active Distressed Loan Markets in India and Mainland China 5.6. Conclusion, Lessons and Implications for Managing NPLs 5.7. Postscript 6. Insolvency Practitioners as Gatekeeper Intermediaries 6.1. Introduction 6.2. Role of Insolvency Practitioners: A Comparative Perspective 6.3. The Governance of Intermediaries: Accountability, Conflicts of Interest and Effectiveness 6.4. Lessons, Implications and Options for Reform in Asian Jurisdictions 6.5. Conclusion 7. Role of the Courts in Court-Supervised Restructurings 7.1. Introduction 7.2. Legislative Framework and Judicial Discretion in the US and the UK: Strengths and Limitations 7.3. Legislative Framework and Judicial Discretion in Asia 7.4. Lessons and Implications 7.5. The Experience of Mainland China 7.6. Conclusion 8. Relationship between Restructuring Law, Enforcing Contracts and Directors’ Duties 8.1. Introduction 8.2. Impact of Enforcing Creditor Rights on Restructuring Law 8.3. Analysis 8.4. Directors’ Duties and Incentives to Invoke or Use Restructuring Law 8.5. Conclusion 9. Restructuring Law, Implications for Reform and Conclusion 9.1. Introduction 9.2. Seven Propositions in this Book 9.3. Future Prospects for Reform in the Asian Jurisdictions 9.4. Conclusion

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Book SynopsisThis book provides an in-depth analysis of 4 economically significant Asian jurisdictions: Mainland China, India, Hong Kong and Singapore. These jurisdictions have recently either reformed – or are considering reforming – their corporate restructuring laws to promote regimes conducive to restructuring financially distressed, but otherwise economically viable, companies. Mainland China, India, Hong Kong and Singapore continue to adhere to a framework that requires the court’s final approval but draw references from Chapter 11 of the Bankruptcy Code 1978 in the United States and/or the schemes of arrangement in the United Kingdom. However, the institutional and market structures are very different in Asia; in particular, Asia has a far higher concentration in shareholdings among listed firms, including holdings by families and the state, and a different composition of creditors. The book explains how, notwithstanding the legal transplantation, corporate restructuring laws in these Asian jurisdictions have adapted and evolved due to the frictions in shareholder-creditor and creditor-creditor relationships, and the role of the state in resolving non-performing loans and financial distress of state-owned enterprises which are listed, or which issue public debt. The study argues that any reforms must go beyond professionalising the insolvency professionals and the judiciary but must be designed to address fundamental issues of corporate governance, bank regulation and enforcing non-bankruptcy rules. It offers invaluable insights for academics and policy makers alike.Trade ReviewMeticulously researched, well presented, and thoroughly referenced, this book represents a major contribution to insolvency scholarship. It will also be valuable to those with a more general interest in corporate restructuring laws as well as insolvency laws in Asia. The methodology will be of interest to comparative law scholars in Asia, the UK, and the US, not only to those with an interest in insolvency law. The book is an extremely valuable addition to the Hart Series on Contemporary Studies in Corporate Law. -- Jingchen Zhao, Nottingham Trent University * International Insolvency Review *This book plugs a significant gap in the literature concerning restructuring and insolvency law and policy in Asia and will be a valuable resource for academics, practitioners, and those who engage in policy formulation and law reform. -- Andrew Godwin, University of Melbourne * The Chinese Journal of Comparative Law *In this excellent new book Professor Wan critically analyses the development of corporate restructuring law in four Asian jurisdictions: Hong Kong, Singapore, Mainland China, and India. Her controlling argument is that all of these jurisdictions have borrowed ideas from corporate restructuring law in the US and the UK, but that the organisational and institutional environment is very different in each of them so that adaptations are necessary for the legal transplants to flourish in their new soil. The book makes a highly significant contribution to the literature ... What emerges is a fascinating, readable, rigorous, and highly compelling piece of research. * Sarah Paterson, Professor of Law, London School of Economics and Political Science, UK *Professor Wan’s new book provides a fascinating deep dive into the insolvency regimes of China, Hong Kong, India, and Singapore. Professor Wan traces the evolution of each regime and highlights the influence that American and English systems had on that evolution. In doing so, she develops a new framework for measuring the success of restructuring laws and persuasively challenges the idea that American and English principles of restructuring can simply be transplanted to any jurisdiction regardless of local institutions and laws. This book is a must read for anyone interested in the law of corporate restructuring or comparative law more generally. * Anthony J Casey, Donald M Ephraim Professor of Law and Economics, University of Chicago, USA *In this masterful monograph, Professor Wai Yee Wan combines economic analysis with detailed institutional knowledge to assess the application of American- and British-style business reorganization law to the economies and legal environments of Mainland China, Hong Kong, India, and Singapore. Her book is rich in comparative information on these four Asian legal regimes, and she offers insightful conclusions and persuasive recommendations. Of particular importance is her original analysis of the challenges of the employment of an Anglo-American reorganization model in jurisdictions whose businesses are, as contrasted with those in the US and UK, characterized by concentrated share holdings. * Richard Squire, Professor of Law & Alpin J Cameron Chair in Law, Fordham Law School, USA *This book presents a theoretically rich and intellectually stimulating account of corporate restructuring in Hong Kong, Singapore, India and Mainland China. The corporate insolvency regimes of these jurisdictions have all been influenced to differing degrees by Anglo-American models. Wan interrogates the appropriateness of this in the very different economic and social context of business practice in these four Asian economies. Through careful examination of relevant law and the use of empirical data, she identifies a number of key differences that pull towards the need for these jurisdictions to consider their own policy imperatives and possible reforms. * Sally Wheeler OBE, Robert Garran Professor of Law, Australian National University, Australia *Table of Contents1. Introduction and Theoretical Framework 1.1. Overview 1.2. Restructuring Models in Anglo-America and Asia 1.3. Understanding the Interaction between Corporate Governance and Restructuring Law 1.4. Building an Analytical Framework 1.5. Methodology 1.6. Organisation of the Book 2. Development of Corporate Restructuring Law in Four Asian Jurisdictions 2.1. Introduction 2.2. Emerging Jurisdictions 2.3. Advanced Jurisdictions 2.4. Conclusion 3. The Agency Costs of Manager–Creditor and Shareholder–Creditor Relationships in Restructuring 3.1. Introduction 3.2. Institutional and Organisational Background 3.4. Addressing Information Asymmetry and Hold-Out Problems in Asian Restructurings 3.5. Enhancing the Restructuring Regime: Lessons and Implications 3.6. Conclusion 4. The Agency and Coordination Costs of Creditor–Creditor Relationships in Restructuring 4.1. Introduction 4.2. Institutional and Organisational Background 4.3. Strategies to Deal with Agency and Coordination Costs of Creditor–Creditor Conflicts in Anglo-American Restructurings 4.4. The Features of Asian Restructurings 4.5. Enhancing the Restructuring Regime in Asia: Lessons and Implications 4.6. Conclusion 5. Managing Non-Performing Loans and their Impact on Agency and Coordination Costs in Two Emerging Jurisdictions 5.1. Introduction 5.2. Institutional and Organisational Background in the International Context for Resolving NPLs 5.3. Institutional Background to NPLs in India and Mainland China 5.4. AMCs and Variations to Agency and Coordination Costs in Restructuring 5.5. Developing Active Distressed Loan Markets in India and Mainland China 5.6. Conclusion, Lessons and Implications for Managing NPLs 5.7. Postscript 6. Insolvency Practitioners as Gatekeeper Intermediaries 6.1. Introduction 6.2. Role of Insolvency Practitioners: A Comparative Perspective 6.3. The Governance of Intermediaries: Accountability, Conflicts of Interest and Effectiveness 6.4. Lessons, Implications and Options for Reform in Asian Jurisdictions 6.5. Conclusion 7. Role of the Courts in Court-Supervised Restructurings 7.1. Introduction 7.2. Legislative Framework and Judicial Discretion in the US and the UK: Strengths and Limitations 7.3. Legislative Framework and Judicial Discretion in Asia 7.4. Lessons and Implications 7.5. The Experience of Mainland China 7.6. Conclusion 8. Relationship between Restructuring Law, Enforcing Contracts and Directors’ Duties 8.1. Introduction 8.2. Impact of Enforcing Creditor Rights on Restructuring Law 8.3. Analysis 8.4. Directors’ Duties and Incentives to Invoke or Use Restructuring Law 8.5. Conclusion 9. Restructuring Law, Implications for Reform and Conclusion 9.1. Introduction 9.2. Seven Propositions in this Book 9.3. Future Prospects for Reform in the Asian Jurisdictions 9.4. Conclusion

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Book SynopsisWritten by authors from South Square, consistently ranked in legal directories as the top set for insolvency and restructuring in the UK this book deals specifically with corporate administration and Company Voluntary Arrangements (CVAs) in the context of business recovery and rescue. The fourth edition has been fully revised and updated to include coverage and analysis of all case law developments as well as: - a new chapter on the UK government's proposed new Corporate Restructuring Plan - the new UK statutory pre-insolvency moratorium - the cross-border context for corporate administrations and rescue procedures post-Brexit - increased coverage of public sector special administration regimes This title is included in Bloomsbury Professional's Insolvency Law online service.Table of Contents1. The Appointment of an Administrator 2. Effect of Administration: The Statutory Moratorium 3. Procedure Following the Appointment of an Administrator 4. Decisions of Creditors, Creditors’ Committees and Members 5. Powers, Duties, Status and Liabilities of an Administrator 6. Contracts 7. Administration as it Affects Officers of the Company and its Employees 8. Statutory Rights and Remedies Available to Administrators 9. The Administrator’s Task 10. Sale of Assets in an Administration and Related Matters 11. Voluntary Arrangements 12. Moratoriums for Small Companies 13. Schemes of Arrangement 14. Protection of Interests of Creditors and Members 15. Payments and Distributions 16. Partnerships and Limited Liability Partnerships 17. Termination of Administration Proceedings and Removal and Replacement of an Administrator 18. Administrations and the Financial Markets 19. Administrations and Special Administrations in the Financial Services Sector 20. Public Sector Special Administration Regimes 21. Court Practice and Procedure 22. International Aspects

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Book SynopsisBridges the gap between the three distinct disciplines of pensions, employment and corporate insolvency law. Through a mix of legislation, case law, analysis and comment, this well-regarded text gives you all the information you need to answer your clients' questions. It outlines the legal principles applicable where the three regimes interact, with a particular focus on the application of the rules relating to corporate insolvency and how they impact on employees and their pension rights. For example: - How is the position of employees affected by the appointment of an insolvency practitioner over their employing company? - Who is liable, and what priority is given to past or future claims? Updates for the 7th edition include: - Full treatment of CVAs and pensions - Implications of the Court of Appeal decision in Granada/Box Clever about “association” and about Pensions Regulator powers - Implications of proposed pensions legislation, including new criminal offences - New Crown preferential debts Corporate Insolvency: Employment and Pension Rights is cited in many works focusing on the employment and insolvency fields. If you work as an employment, pensions or corporate insolvency practitioner, you’ll find its up-to-date case law and practical analysis an essential aid to your work. This title is included in Bloomsbury Professional's Insolvency Law, Employment Law and Pensions Law online services.Table of ContentsPart 1 - Introduction Part 2 - Employment Law Overview Part 3 - Insolvency Law: Overview Part 4 - The start of Insolvency Proceedings Part 5 - IP Liability and Employees Part 6 - Accrued Claims to Insolvency Debt Part 7 - Continued Employment/Carrying on Business Part 8 - Business Transfers and TUPE Part 9 - Impact of Employer Insolvency on Pensions Part 10 - Pension Protection Fund (PPF) Part 11 - Section 75 and Debt on Employer Part 12 - Pensions Regulator and its Statutory Moral Hazard Powers Part 13 - Winding Up Pension Schemes Part 14 - Overseas Issues Part 15 - CVAs and Pensions

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Book SynopsisBuying and Selling Insolvent Companies and Businesses aims to be a comprehensive guide to its readers, being useful to insolvency practitioners and other professionals involved in insolvency, including lawyers, accountants, company directors and company secretaries. It is also of use to potential investors and their advisers as well as being of interest to students who may wish to specialise in insolvency. The new third edition has been updated to include: - Corporate Insolvency and Governance Act 2020 which brought in a new moratorium procedure and restructuring plan as permanent measures in response to COVID-19 - the impact of Brexit on insolvency laws - the impact of the significant rise in the use of company voluntary arrangements - the new Pensions bill, which will have an impact on advisors to insolvent companies This title is included in Bloomsbury Professional's Company and Commercial Law and Insolvency Law online services.Table of Contents1 What is Corporate Insolvency? 2 Pre-pack Administrations; 3 Purchasing Vehicles and Insolvency Act 1986, s 216; 4 Due Diligence; 5 Raising Funds; 6 Secured Creditors; 7 Goodwill, Intellectual Property Rights and Data Protection Act Issues; 8 Excluded Assets; 9 Employees; 10 Pension Schemes; 11 How to Deal with Existing Customers and Work in Progress; 12 How to Deal with Suppliers; 13 Leasehold Premises

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Book Synopsis

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Book Synopsis

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Book Synopsis

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