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The European Banking Union and Constitution by
Publication Date: 24-01-19
In 2012, at the height of the sovereign debt crisis, European decision makers pushed for developing an ‘ever closer union’ with the formation of a European Banking Union (BU). Although it provoked widespread debate, to date there has been no coherent discussion of the political and constitutional dimensions of the European Banking Union. This important new publication fills this gap. Drawing on the expertise of recognised experts in the field, it explores banking union from legal, economic and political perspectives. It takes a four-part approach. Firstly, it sets the scene by examining the constitutional foundations of banking union. Then in parts 2 and 3, it looks at the implications of banking union for European integration and for democracy. Finally it asks whether banking union might be more usefully regarded as a trade-off between integration and democracy. This is an important, timely and authoritative collection
The Implementation of the New Insolvency Regulation by
Publication Date: 16-11-2017
Max Planck Institute Luxembourg Articles 36 ff EIR Contrary to the previous case law of the CJEU, the recast of the Insolvency Regulation aims to reduce the opening of secondary proceedings which may hamper the efficient administration of the insolvency estate. The main legislative motivation for this reduction is the detrimental effect secondary proceedings may have on carrying out the administration effectively: While organizational and procedural difficulties as well as potential disputes between the involved insolvency practitioners are both playing their part, the opening of parallel proceedings undoubtedly raises costs caused by the appointment of one or more additional insolvency practitioners and the involvement of another insolvency court, and may lead to delays. In particular, the simultaneous application of different insolvency statutes is prone to increase complexity and aggravate the coordination of proceedings, especially when it comes to the realization of assets.
Insolvency and Restructuring Manual by
Publication Date: 03-03-2018
Insolvency and Restructuring Manual examines the main formal processes involved in the world of corporate insolvency and restructuring such as liquidation, administration, receivership, company voluntary arrangements and schemes of arrangement.
Distinctly practical in style Insolvency and Restructuring Manual utilises bullet pointed and highlighted text, flowcharts, tables and other schematics to explain and compare the main procedures and remedies available in this complex area of law.
The book begins by dealing with insolvency principles and processes, as it is necessary to know the effects of a formal insolvency in order then to consider restructuring as an alternative. As there are concerns specific to Directors of insolvent companies there is a chapter dealing with these. The special rights and remedies of creditors - not only secured creditors, but also landlords, employees, pensions-related creditors and retention of title creditors - are examined. A variety of additional considerations involved in a restructuring are then highlighted. Finally, given the increasingly global nature of many groups' businesses, cross-border considerations that may apply are covered.
International and Comparative Secured Transactions Law by
Publication Date: 19-10-2017
The law of secured transactions has seen dramatic changes in the last decade. International organisations, particularly the United Nations Commission on International Trade Law (UNCITRAL), have been working towards the creation of international legal standards aimed at the modernisation and harmonisation of secured financing laws (eg, the United Nations Convention on the Assignment of Receivables in International Trade, the UNCITRAL Legislative Guide on Secured Transactions and its Intellectual Property Supplement, the UNCITRAL Guide on the Implementation of a Security Rights Registry and the UNCITRAL Model Law on Secured Transactions).
Personal Insolvency in the 21st Century by
Publication Date: 20-04-2017
Since 1979 the world has witnessed a remarkable cycle of personal insolvency law reform. Changes in capitalist economies, financial crises and political interest groups all contributed to this cycle of reform. This book examines the role of interest groups and distinct narratives in shaping reform in different countries while drawing attention to the role of timing, path dependency and unintended consequences in the development of personal insolvency law.
The book presents case studies of personal insolvency law in the US, France, Sweden, and England and Wales. It then analyses how, following the Great Recession of 2008, international financial institutions paid greater attention to the significance of household debt in contributing to financial instability and the role of individual insolvency law in providing a fresh start. Personal insolvency law reform became part of EU responses to the eurozone crisis and the EU has proposed harmonisation of individual insolvency law to promote entrepreneurialism. This book examines the extent to which these developments represent an emerging international commonsense about personal insolvency and its relationship to neo-liberalism. Finally, this book discusses whether the international emergence of individual personal insolvency law represents a progressive step or a band-aid for the costs of neo-liberal policies, where a significant number of people live close to the precipice of over-indebtedness.
Private Funds: Where and How? by
Publication Date: 08-03-2018
How do you choose between domicile and jurisdiction when structuring a fund?
Dechert LLP, a global law firm with a market leading financial services and investment management practice, share their expertise.
A jurisdictional guide to setting up and managing hedge funds in 16 of the leading private fund domiciles.
Secured Credit in Europe by
Publication Date: 07-09-2017
This monograph seeks the optimal way to promote compatibility between systems of proprietary security rights in Europe, focusing on security rights over tangible movables and receivables. Based on comparative research, it proposes how best to tackle cross-border problems impeding trade and finance, notably uncertainty of enforceability and unexpected loss of security rights. It offers an extensive analysis of the academic literature of more recent years that has appeared in English, German, the Scandinavian languages and Finnish. The author organises the concrete means of promoting compatibility into a centralised substantive approach, a centralised conflicts-approach, a local conflicts-approach and a local substantive approach. The centralised approaches develop EU law, and the local approaches Member State laws. The substantive approaches unify or harmonise substantive law, while the conflicts approaches rely on private international law. The author proposes determining the optimal way to promote compatibility by objective-based division of labour between the four approaches. The objectives developed for that purpose are derived from the economic functions of security rights, the conditions for legal evolution and a transnational conception of justice.
Shareholder Actions by
Publication Date: 12-01-2018
Shareholder Actions is a comprehensive guide to the possible actions shareholders may be entitled to pursue, on whichever side of the dispute they might be involved. As well as unfair prejudice and derivative actions, and the many personal actions arising from the Companies Act 2006, the book covers actions based in common law and equity, as well as actions based in other statutory law. It also explores occurrences of directors owing fiduciary duties directly to shareholders and the 'no reflective loss' rule providing a clear view of its scope and its limitations.
The book refers to judgments in other related jurisdictions when it is necessary to substantiate a submission not already fully and authoritatively addressed by English law. Scottish cases are referred to where the House of Lords or Supreme Court have dealt with an issue, or where the point of law overlaps with English law.