Principles of International Insolvency
Description
"The Law and Practice of International Finance Series" is your definitive guide to international finance. It considers the full range of topics across nine volumes, setting out the law and practice of trading assets on the international markets. This essential work, by one of the leading finance specialists of a generation, provides a simple, unified and distilled account of the whole topic.
This book covers the essential principles of international insolvency from a practical perspective, providing the reader with an in-depth explanation of the core concepts underlying insolvency law and practice. It sits beside volume 2 of the series, which provides a comparative overview of over 300 jurisdictions.
Philip Wood is one of the leading authorities on international finance worldwide, as well as a practitioner and teacher. He was a partner in international law firm Allen & Overy until his retirement in 2018, and for ten years was head of the banking department. Subsequently he led the firm’s Global Law Intelligence Unit. Philip is the Yorke Distinguished Visiting Fellow at the University of Cambridge, and has previously been Visiting Professor in International Financial Law at the University of Oxford, Queen Mary University of London, and the London School of Economics. He has lectured at more than 60 universities worldwide and has written more than 20 books.
Key features:
- Covers the essentials of international insolvency from a practical perspective
- Advance study of substantive bankruptcy law in the major jurisdiction in the world, in the context of international financial transactions
- Topics covered include:
- Private restructuring agreements and workouts
- Liquidations
- Liabilities of Corporate Directors and Lenders
- Voidable Preferences
- Priorities
- Trusts and Custodianship
- Impact of Insolvency on Contracts and Leases
- Bank and State insolvencies
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Content
Contents
Part 1: General
1. The Topic
2. World insolvency law in ten pages
3. Policies, causes and effect
4. Historical background
5. Comparison of work-outs, judicial rescues and liquidations
Part 2: Jurisdictions of the World
6. Indicators of insolvency law
7. Legal families of the world
Part 3: Insolvency Topics
8. Entry criteria for insolvency
9. Stays of creditors
10. Management of insolvency proceedings
11. Claims and the bankruptcy ladder of priorities
12. Bankruptcy ladder of priorities: pari passu and subordinated claims
13. Trusts: policies and reception
14. Classification of trusts and functional equivalents
15. Tests for trusts
16. Non-consensual trusts
17. Tracing of property on insolvency
18. Security interests
19. Enforcement of security interests on insolvency
20. Insolvency set-off
21. Contracts and leases
22. Contracts and leases: jurisdiction examples
23. Assets of the estate and forfeitures (anti-deprivation)
24. Avoidance of preferences: Summary and survey
25. Undervalue transactions and payments as preferences
26. Security interests as preferences
27. Preferences: business transfers; financial assistance to buy own shares
28. Preferences: guarantors; attachments; extortionate credit
29. Preferences: suspect periods; defences; recepture; deterrence
30. Director liability: policies and summary
31. Director liability: taxes; fraudulent and wrongful trading
32. Director liability: duties to file
33. Director liability: negligent management and other liabilities
34. Director liability: de facto directors, protections
35. Shareholder liability and groups
36. Lender liability
Part 4: Work-Outs and Reorganisations
37. Private restructuring agreements (work-outs)
38. Workouts: standstill and bank support agreements; security
39. Workouts: exchanges; sales; intercreditor
40. Workouts: debt/equity conversions; Newco
41. Judicial reorganisation plans: contents and confirmation
42. English-based corporate schemes of arrangement