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Creditor Priority In European Bank Insolvency Law
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Book Synopsis Creditor Priority in European Bank Insolvency Law by : Sjur Swensen Ellingsæter
Download or read book Creditor Priority in European Bank Insolvency Law written by Sjur Swensen Ellingsæter and published by Bloomsbury Publishing. This book was released on 2023-02-09 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first comprehensive treatment of creditor priority in European bank insolvency law. Following reform in the wake of the global financial crisis, EU law requires that Member States have in place bank-specific insolvency frameworks. Creditor priority-the order in which different creditors bear losses should a bank fail-differs substantially between bank-specific and general insolvency law. The bank-specific creditor priority framework aims to ensure that banks can enter insolvency proceedings without disrupting financial stability. The book provides a systematic and thorough account of the Bank Recovery and Resolution Directive and other EU legislation that governs creditor priority in bank resolution and liquidation proceedings, and their interaction with national law. The framework is analysed from several perspectives, including comparison with creditor priority in English, German and Norwegian general insolvency law. Moreover, the book places the evolution of the framework and its justifications within the broader post-crisis shifts in bank regulation, and critically examines the assumptions that underlie these developments. Finally, the book discusses how this area of law could evolve in the future.
Book Synopsis Creditor Priority in European Bank Insolvency Law by : Sjur Swensen Ellingsaeter
Download or read book Creditor Priority in European Bank Insolvency Law written by Sjur Swensen Ellingsaeter and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first comprehensive treatment of creditor priority in European bank insolvency law. Following reform in the wake of the global financial crisis, EU law requires that Member States have in place bank-specific insolvency frameworks. Creditor priority--the order in which different creditors bear losses should a bank fail--differs substantially between bank-specific and general insolvency law. The bank-specific creditor priority framework aims to ensure that banks can enter insolvency proceedings without disrupting financial stability. The book provides a systematic and thorough account of the Bank Recovery and Resolution Directive and other EU legislation that governs creditor priority in bank resolution and liquidation proceedings, and their interaction with national law. The framework is analysed from several perspectives, including comparison with creditor priority in English, German and Norwegian general insolvency law. Moreover, the book places the evolution of the framework and its justifications within the broader post-crisis shifts in bank regulation, and critically examines the assumptions that underlie these developments. Finally, the book discusses how this area of law could evolve in the future.
Book Synopsis The Legal Aspects of Bank Insolvency:A Comparative Analysis of Western Europe, the United States and Canada by : Eva Helene Gertrude Hüpkes
Download or read book The Legal Aspects of Bank Insolvency:A Comparative Analysis of Western Europe, the United States and Canada written by Eva Helene Gertrude Hüpkes and published by Springer. This book was released on 2000-09-08 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until recent years, formal bank insolvency proceedings were rare occurrences, with governments more often than not coming to the rescue of failing banks. As a result, few studies relating to bank failure have paid much attention to the regulatory framework for failing banks and the conduct of formal bank insolvency proceedings. However, in the aftermath of the Asian financial crisis, more attention has been focused on issues of bank insolvency. Structural reforms in the banking sector of various Asian countries, in particular the implementation of effective exit rules to expel insolvent and non-viable banks from the market, have been considered of primary importance to restoring confidence in the troubled banking sector. In addition, the ability of governments within the European Union to rescue insolvent banks has been significantly limited by strict rules on competition, suggesting that failing banks will become increasingly subject to insolvency proceedings. The Legal Aspects of Bank Insolvency compares the legal framework for dealing with insolvent banks in Western Europe, the United States and Canada, identifying the distinctive features of each regime and discussing the main issues and choices in dealing with failing banks. It also examines the implications of a cross-border bank insolvency, and considers different approaches to the problems it raises, including the supranational approach of the proposed European Directive on the Reorganization and Winding-up of Credit Institutions. This work will be of value to lawmakers, to consultants and scholars engaged in technical assistance work, and to those who advise the legislators and officials involved in devising a legal framework for bank insolvency. It will also be of interest to practitioners and in-house counsel working in the field of banking and corporate law.
Book Synopsis The Economics of Bank Bankruptcy Law by : Matej Marinč
Download or read book The Economics of Bank Bankruptcy Law written by Matej Marinč and published by Springer Science & Business Media. This book was released on 2011-09-18 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows that a special bank bankruptcy regime is desirable for the efficient restructuring and/or liquidation of distressed banks. It explores in detail both the principal features of corporate bankruptcy law and the specific characteristics of banks including the importance of public confidence, negative externalities of bank failures, fragmented regulatory framework, bank opaqueness, and the related asset-substitution problem and liquidity provision. These features distinguish banks from other corporations and are largely neglected in corporate bankruptcy law. The authors, an assistant professor for money and finance and a research economist at the Dutch Central Bank, propose changes in both prudential regulation and reorganization policies that should allow regulators and banking authorities to better mitigate disruptions in the financial system and minimize the social costs of bank failures. Their recommendations are complemented by a discussion of bank failures from the 2007–2009 financial crisis.
Book Synopsis The European Restructuring Directive by : Gerard McCormack
Download or read book The European Restructuring Directive written by Gerard McCormack and published by Edward Elgar Publishing. This book was released on 2021-04-30 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book provides a clear analysis of the European Restructuring Directive, which aims to improve national frameworks governing business restructuring and insolvency as well as to provide debt relief for individuals. Gerard McCormack explores the key aspects of the Directive including the moratorium on litigation and enforcement claims against the financially-troubled business, the provision for new financing, the division of creditors into classes, the introduction of a restructuring plan and the rules for approval of the plan by a court or administrative authority.
Book Synopsis Set-Off Law and Practice by : William Johnston
Download or read book Set-Off Law and Practice written by William Johnston and published by Oxford University Press. This book was released on 2018-02-22 with total page 752 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Rescue of Business in Europe by : Gert-Jan Boon
Download or read book Rescue of Business in Europe written by Gert-Jan Boon and published by Oxford University Press. This book was released on 2020-01-30 with total page 1505 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume is based on the European Law Institute's (ELI) project 'Rescue of Business in Insolvency Law'. The project ran from 2013 to 2017 under the auspices of the ELI and was conducted by Bob Wessels and Stephan Madaus, who were assisted by Gert-Jan Boon. The study sought to design (elements of) a legal framework that will enable the further development of coherent and functional rules for business rescue in Europe. This includes certain statutory procedures that could better enable parties to negotiate solutions where a business becomes financially distressed. Such a framework also includes rules to determine in which procedures and under which conditions an enforceable solution can be imposed upon creditors and other stakeholders despite their lack of consent. The project had a broad scope, and extended to consider frameworks that can be used by (non-financial) businesses out of court, and in a pre-insolvency context. Part I of this book, the ELI Instrument as approved by the ELI Council and General Assembly, features 115 recommendations on a wide variety of themes affected by the rescue of financially distressed businesses, such as the legal rules for professions and courts, treatment and ranking of creditors' claims, contract, corporate and labour law as well as laws relating to transaction avoidance. Part II consists of national reports that sketch the legal landscape in 13 States and of an 'Inventory Report on International Recommendations from Standard-Setting Organisations', both of which provided insight for the drafting of the Instrument. This volume is designed to assist those involved in a process of law reform and those setting standards for soft law in the business rescue context.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781557758200 Total Pages :108 pages Book Rating :4.7/5 (582 download)
Book Synopsis Orderly and Effective Insolvency Procedures by : International Monetary Fund
Download or read book Orderly and Effective Insolvency Procedures written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-08-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
Book Synopsis Bank Failures and Bank Insolvency Law in Economies in Transition by : Rosa Lastra
Download or read book Bank Failures and Bank Insolvency Law in Economies in Transition written by Rosa Lastra and published by Springer. This book was released on 1999-04-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the legal issues inherent in resolving troubled banking sectors in transitional economies. Bank failures are a recurrent phenomenon in both developed and developing countries, as shown by the crises in the last ten years in the USA, Japan, Scandinavian countries, the Baltic countries, Bulgaria, South East Asia and Latin America. Banks in transitional economies face additional challenges as they become intermediaries in lending the public's savings, rather than mere conduits for the central financing plan. They have to ensure repayment of loans when they no longer receive subsidies to compensate their losses to the same degree as before. As a result of these challenges, almost all these countries have suffered numerous bank failures in the past eight years, with negative consequences for bank owners, managers, depositors and other creditors. The absence, in many situations, of appropriate crisis management procedures and bank insolvency laws hinders the success or pace of the transition process. This book is the result of a research seminar organised by the Centre for Commercial Law Studies, Queen Mary and Westfield College, University of London, and the Office of the General Counsel of the European Bank for Reconstruction and Development (EBRD). The authors include distinguished US and European professors of banking law, government policymakers, prominent lawyers and economists from the European Union, the EBRD and the International Monetary Fund, and senior industry executives from law firms and financial institutions.
Book Synopsis Current Issues in European Financial and Insolvency Law by : Wolf-Georg Ringe
Download or read book Current Issues in European Financial and Insolvency Law written by Wolf-Georg Ringe and published by Bloomsbury Publishing. This book was released on 2009-06-02 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent case-law and legislation in European company and insolvency law have significantly furthered the integration of European business regulation. In particular, the case-law of the European Court of Justice and the introduction of the EU Insolvency Regulation have provided the stimulus for current reforms in various jurisdictions in the fields of insolvency and financial law. The UK, for instance, has adopted the Enterprise Act in 2002, designed, inter alia, to enhance enterprise and to strengthen the UK's approach to bankruptcy and corporate rescue. In a similar vein, a recent reform in France has modernised French insolvency law and even introduced a tool similar to the successful English 'company voluntary arrangement' (CVA). This book provides a collection of studies by some of the leading English and French experts today, analysing current perspectives of insolvency and financial law in Europe, both on the national as well as on the European level.
Book Synopsis Who Pays for Bank Insolvency? by : D. Mayes
Download or read book Who Pays for Bank Insolvency? written by D. Mayes and published by Springer. This book was released on 2016-04-30 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to avoid taxpayers paying for bank failures and banking crises? This book provides a proposal and a critique by twelve independent experts. It is addressed particularly to the threat posed in Europe by having large international banks, a history of bailouts and limited means of resolving any future banking crises. It shows how political imperatives and legal constraints currently result in economic losses in many countries round the world.
Book Synopsis Research Handbook on Crisis Management in the Banking Sector by : Matthias Haentjens
Download or read book Research Handbook on Crisis Management in the Banking Sector written by Matthias Haentjens and published by Edward Elgar Publishing. This book was released on 2015-10-30 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this timely Handbook, over 30 prominent academics, practitioners and regulators from across the globe provide in-depth insights into an area of law that the recent global financial crisis has placed in the spotlight: bank insolvency law. Research Handbook on Crisis Management in the Banking Sector discusses the rules that govern a bank insolvency from the perspectives of the various parties that are affected by these rules. Thus, whilst many bank insolvency rules have been enacted only recently and their application is still clouded by a host of uncertainties, this book takes the perspectives of the relevant authorities, of the bank and of the bank’s counterparties. Providing a comprehensive approach to crisis management in the banking sector, this Handbook will prove a valuable resource for academics, postgraduate students, practitioners and international policymakers.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498336051 Total Pages :77 pages Book Rating :4.4/5 (983 download)
Book Synopsis An Overview of the Legal, Institutional, and Regulatory Framework for Bank Insolvency by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book An Overview of the Legal, Institutional, and Regulatory Framework for Bank Insolvency written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2009-04-17 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides an overview of the legal, institutional, and regulatory framework that countries should put in place to address cases of bank insolvency. It is primarily intended to inform the work of the staffs of the International Monetary Fund (IMF) and World Bank, and to provide guidance to their member countries.
Book Synopsis Security Rights and the European Insolvency Regulation by : Gerard McCormack
Download or read book Security Rights and the European Insolvency Regulation written by Gerard McCormack and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Security rights are of fundamental importance to the granting of credit. They are generally considered to increase the availability and lower the cost of credit but there appear to be divergent views across Europe and elsewhere on the extent to which it should be possible to create security rights over assets. Moreover, laws in many countries - avoidance laws - strike at advantage gaining by creditors in the period immediately before formal insolvency proceedings are instituted. It is seen as potentially unfair to other creditors who may be forced into taking enforcement proceedings against the debtor and this may precipitate the premature liquidation of the debtor with an overall loss of economic value. The book will assess the conception of security rights according to the different European legal traditions. It will also evaluate the appropriateness of the protection given to security rights in light of:- developments in those European legal traditions;- the objective of the Insolvency Regulation to facilitate the more effective administration of cross-border insolvency cases; - the need for security in the context of the financial crisis;- the basic principles of ensuring fairness between creditors;- forestalling premature liquidation; and- reinforcing the collective nature of the insolvency process. The growth strategy put forward by the European Commission, Europe 2020, is designed to achieve economy recovery and sustainable growth, targeting as primary goals a higher investment rate and the preservation of employment. The rescue of troubled enterprises is at the core of this strategy and the book plots the alignment between this strategy and the evolution of the Insolvency Regulation. The objective is to facilitate a situation where economic and social systems are adaptable, resilient and fair; where economic activity is sustainable; and where human values are respected. About the book 'This very broad comparative study includes analysis and evaluation of the laws on secured rights demonstrating rather divergent views across the EU regarding the extent to which it should be possible to create security rights over assets. It presents a broad array of options and solutions which might spark further thoughts and innovations. It goes deeply into the meaning of Article 5 of the EU Insolvency Regulation 1346/2000, now the similar Article 8 Recast. It analyses also the many differences countries have when defining a right in rem" and its effects. The full study may assist Member States in enhancing their domestic laws or possible law reform. It should be read by representatives of the banking industry and economists who often confuse insolvency with pure asset liquidation. In the academic world it will allow for discussion and circulation of ideas.
Book Synopsis The Law of International Insolvencies and Debt Restructurings by : James R. Silkenat (jurist.)
Download or read book The Law of International Insolvencies and Debt Restructurings written by James R. Silkenat (jurist.) and published by . This book was released on 2006 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past several years, there have been an unprecedented number of insolvencies and restructurings of multinational corporations, both inside and outside of traditional bankruptcy proceedings. The Law of International Insolvencies and Debt Restructurings is the first treatise to analyze the newly created doctrines of law and procedure that have developed as insolvencies and restructurings have become increasingly international in character and now frequently involve the laws of numerous jurisdictions. Leading attorneys address developments in bankruptcy and insolvency laws in the countries that have become the focal points for legal proceedings, including the United States, Mexico, England, Spain, Italy, Argentina, Brazil, China, France, Japan, and Canada. Essential topics in the law of international restructuring and insolvency are also explored in depth, including national legislation and procedures, treaties and cooperation agreements, sovereign debt litigation, and inter-creditor relationships. Coverage includes: - Methods of restructuring multinational corporate and sovereign debt - Judicial bankruptcy proceedings - Rights of creditors - Jurisdiction and venue - European Council Regulations - Choice of Law - Dispute resolution - Access by foreign parties to U.S. bankruptcy courts
Book Synopsis The Case for Depositor Preference by : Mr.Marc C Dobler
Download or read book The Case for Depositor Preference written by Mr.Marc C Dobler and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-12-22 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical note and manual (TNM) addresses the following issues: advantages and disadvantages of different types of depositor preference, international best practice and experience in adopting depositor preference, and introducing depositor preference in jurisdictions with or without deposit insurance.
Book Synopsis Principles of European Insolvency Law by : William W. McBryde
Download or read book Principles of European Insolvency Law written by William W. McBryde and published by . This book was released on 2003 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt:
