Insolvency Law And Practice

Vanessa Finch provides an interesting look at corporate insolvency laws and processes. She adopts an interdisciplinary approach to place two questions at the centre of her discussion. Are current UK laws and procedures efficient, expert, accountable and fair? Are fundamentally different conceptions of insolvency law needed for it to develop in a way that serves corporate and broader social ends? Topics considered in this wide-ranging book include different ways of financing companies, causes of corporate failure and prospects for designing rescue-friendly processes. Also examined are alternative asset distribution of failed companies, allocations of insolvency risks and effects of insolvency on a company's directors and employees. Finch argues that changes of approach are needed if insolvency law is to develop with coherence and purpose. This book will appeal to academics and students at advanced undergraduate and graduate level, and to legal practitioners throughout the common law world.

The ninth edition of Keay's Insolvency has come at a time when major insolvency reforms, foreshadowed in previous editions, have just been announced. While none of these has become law, the authors have introduced readers to the proposed changes and the considerable impact they will have on the operation of the law and the administration of insolvencies. These include the introduction of a safe harbour defence to insolvent trading, allowing more emphasis on informal restructuring, restrictions on counter-parties terminating contracts under "ipso facto" clauses, and allowing small companies to go through a streamlined liquidation process. The timing of these reforms, and their significance, is such that those studying and practicing in insolvency need to have an understanding of what is coming, which Keay will provide, even if by way of brief comment at various points throughout. Those reforms have confirmed the authors' continued and increased focus on corporate restructuring law and practice, including outside the context of formal insolvency, an on-going trend in Australia, and internationally. This edition also has new commentary on the roles and duties of lawyers acting in insolvency. PPS law and practice and further embedded in the commentary, along with cross-border insolvency, tax, banking and other related laws. The text has necessarily been updated with commentary on new and important case law, with an emphasis on decisions from the High Court and Courts of Appeals, or on decisions that add new perspectives on the law and practice. The authors have given greater emphasis to legal and insolvency practice - with references throughout to ASIC and AFSA regulatory guidance, Court rules, the ARITA Code, tax issues and forms. Useful tables have been added to explain the details in the text and each chapter now has a summary table of references to the particular parts of the legislation, regulatory guidance, and court rules. The book also cross-references to cases in the new case book, Insolvency Law - Commentary and Materials. Commentary on the statistical trends available from the October 2015 annual reports of the regulators, and other data, is explained, in particular in as far as they may support the law reform trends. The final chapter in the last edition of the text critically assessed Australia's insolvency regime. The authors stand by that commentary and have necessarily updated and added to it in light of the law reform announcements, remaining of the view that while the laws work well enough, the environment local and international environment in which they operate has significantly changed such that, while the reforms are welcomed, a wholesale review of the regime in Australia is still needed. The authors are pleased to see the recognition given to Australian insolvency law and practice through the election of Mr Mark Robinson of PPB Advisory as President of INSOL International in 2015, and of Professor Rosalind Mason, of Queensland University of Technology (QUT), as Chair of INSOL Academics. Both have contributed enormously to the development of the practice and law of insolvency both in Australia and internationally. We are very pleased to have Mark Robinson contribute a foreword to this edition of the book. Michael Murray remains a visiting fellow at the Queensland University of Technology, and is now a Fellow of the Australian Academy of Law, and continues to work in and contribute to the development and thinking of insolvency and restructuring law, practice and policy. Jason Harris is now an Associate Professor in Law at the University of Technology, Sydney, and continues to teach and write extensively in the area, in particular in corporate law and restructuring. Each brings his respective knowledge, experience and thoughts to this important area of law and practice.

Bailey and Groves: Corporate Insolvency - Law and Practice is a leading commentary on the substantive law of corporate insolvency and practical guidance on the various procedures arising in this important field. Written by recognised experts in the field, it remains a user-friendly text covering all aspects of corporate insolvency in one volume and is accessible to both legal and accountancy practitioners.The new edition includes:* Updated content to reflect substantial changes to the Insolvency Rules - due to be released in October 2016 and implemented in April 2017* New relevant provisions of legislation since the last edition including the Small Business Enterprise Act 2015 and Deregulation Act 2015* Coverage of amendments to the Company Directors Disqualification Act 1986 by the Deregulation Act 2015 and the Small Business, Enterprise and Employment Act 2015

This title covers the essentials of international insolvency with a very practical slant, providing the reader with a comparative overview of insolvency law and practice in the key jurisdictions of the world. The intention is to illustrate how the concepts and analyses raised throughout "The Law and Practice of International Finance" series may be applied in a real world setting

Covering the subject of insolvency law, this text contains detailed academic analysis where necessary and also covers areas of debate and controversy in the subject. Insolvency is set in its social, economic and historical context and brief extracts for judgements and statutes are given.

This volume analyses corporate insolvency law as a coherent whole, stemming from common fundamental principles and amenable to being justified or criticised on that basis. The author explains why consistency of principle must be sought and how it might be found in the relevant statutory and case law. He then constructs an egalitarian theory for the analysis of corporate insolvency law, based on the premise that all the parties affected by this law are to be treated as equals. He argues that this theory can reconcile the dictates of fairness with the demands of economic efficiency. The theory is employed to analyse some of the most important aspects of insolvency law. Why should the individualistic method of enforcing claims against solvent companies give way to a collective method during insolvency? Why are there different formal mechanisms for dealing with troubled companies? What role does the pari passu principle play in the distribution of an insolvent company s assets?The controversial issues of whether and when secured creditors should be accorded priority over others receive detailed consideration. The functional role of the floating charge and its relationship with receivership are also analysed in this context. The many questions relating to the operation of the new administration procedure introduced by the Enterprise Act 2002 are considered in the light of principle. The book also analyses the role of the wrongful trading provisions. It examines, finally, why insolvency law objects to certain transactions at an undervalue and those having a preferential effect. This volume aims to enhance understanding of this important branch of the law, and to suggest principled solutions to problems which have not yet received judicial attention.

The third edition of this invaluable guide covers the application and practice of the law of set-off in over 30 jurisdictions spanning Europe, Asia and the Americas. Written by leading experts from around the word, each chapter explains the principles of the law of set-off in the jurisdiction concerned, and provides a comparative guide for banking and finance lawyers wishing to establish the pitfalls of set-off in a foreign jurisdiction For this new edition every chapter has been updated to contain new material specifically devoted to cross border aspects, including analysis of choice of law issues.. Fully updated legal analysis is also provided, with an emphasis on how set-off may be used as security and the application of insolvency set-off: taking into account new legal developments in the various jurisdictions and reflecting recent changes to legislation in the financial sector relating to bank and other financial firm resolution.

'Insolvency Law Handbook' is useful for professionals called upon to advise debtors faced with personal or corporate insolvency, or their creditors. It explains the insolvency process - looking at each of the various procedures in turn, highlighting the decisions to be made, the options available and the potential pitfalls.