Corporate Insolvency Law

The first edition of Corporate Insolvency Law proposed a fundamentally revised concept of insolvency law, intended to serve corporate as well as broader social ends. This second edition takes on board a host of changes that have subsequently reshaped insolvency law and practice, 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. It also considers the implications of recent and dramatic changes in the provision and trading of credit, the movement of an increasing amount of 'insolvency work' to the pre-formal insolvency stage of corporate affairs and the arrival, on the insolvency scene, of a new cadre of specialists in corporate turnaround. Looking to the future, Vanessa Finch argues that changes of approach are needed if insolvency law is to develop with coherence and purpose, and she offers a framework for such an approach.

Contents:
Part 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
Conclusion.