International Insolvency Law Reforms and Challenges

International insolvency is a newly-established branch of the study of insolvency that owes much to the phenomenon of cross-border incorporations and the conduct of business in more than one jurisdiction. It is largely the offspring of globalization and involves looking at both law and economic rules. This book is a compendium of essays by eminent academics and practitioners in the field who trace the development of the subject, give an account of the influences of economics, legal history and private international law, and chart its relationship with finance and security issues as well as the importance of business rescue as a phenomenon. Furthermore, the essays examine how international instruments introduced in recent years function as well as how the subject itself is continually being innovated by being confronted by the challenges of other areas of law with which it becomes entangled.

Contents: Editorial preface; Part I New Thoughts on Insolvency: Catholic social thought and corporate insolvency law, Armin J. Kammel; International trade and insolvency, Paul Todd. Part II The Law Reform Imperative: Tranched, squared and derived: credit derivative regulatory reform and the restructuring of insolvent businesses, Janis Sarra; China’s new bankruptcy law: notable features and key enforcement issues, Rebecca Parry and Haizheng Zhang; Creating a template for banking insolvency law reform after the collapse of Northern Rock, Roman Tomasic. Part III Issues in Corporate Rescue: Aggrieved shareholders as creditors: an unmapped coordinate in the cartography of Australian insolvency law, Anil Hargovan; The Australian corporate rescue provisions: how do they compare?, David Morrison and Colin Anderson. Part IV Issues for Small and Medium Enterprises: The extension of small company voluntary arrangements: a response to the Conservative Party’s corporate restructuring proposals, John Tribe. Part V Issues in Personal Insolvency: Perspectives on protecting the family home in South African insolvency law, Corlia van Heerden, André Boraine and Lienne Steyn; Debt enforcement regimes outside bankruptcy in English law: observations on current diversity and future complexity, David Milman. Part VI The UNCITRAL Projects: Representing the interests of unsecured creditors: a comparative look at UNCITRAL’s legislative guide on insolvency law, Susan Block-Lieb, Juraj Alexander and Evgeny Kovalenko; Is the future bright for enterprise groups in insolvency? An analysis of UNCITRAL’s new recommendations, Irit Mevorach; Beyond the UNCITRAL model law in Australasia: the scope for bilateral agreements, David Brown; Index.

Paul Omar is a Barrister and Senior Lecturer in Law at the University of Sussex, UK.