The European Restructuring Directive (Hardcover)

Gerard McCormack

ISBN 10: 1789908809 / ISBN 13: 9781789908800

Published by Edward Elgar Publishing Ltd, Cheltenham, 2021

About this Item

Hardcover. 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.Key features include:a unique contextualisation of the Directive, situating it against the backdrop of earlier European initiativesidentification of important parallels with the UK scheme of arrangement and the new UK restructuring plan procedure embodied in the Corporate Insolvency and Governance Act 2020a comparison of the Directive with Chapter 11 of the US Bankruptcy Code, the United Nations Commission on International Trade Law legislative guide on insolvency, and the World Banks Insolvency and Creditor Rights and Doing Business projects.This important new book provides a detailed and practical analysis of the Directive and the implications for its transposition into national laws, making it an essential work for insolvency lawyers and practitioners, as well as EU policy makers. It will also be critical reading for academics and students of law, particularly those interested in commercial, insolvency, corporate and European law. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.

Seller Inventory # 9781789908800

Bibliographic Details

• Title: The European Restructuring Directive (Hardcover)
• Publisher: Edward Elgar Publishing Ltd, Cheltenham
• Publication Date: 2021
• Language: English
• ISBN 10: 1789908809
• ISBN 13: 9781789908800
• Binding: Hardcover
• Condition: new

About this title

Synopsis

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.

Key features include:

• a unique contextualisation of the Directive, situating it against the backdrop of earlier European initiatives
• identification of important parallels with the UK scheme of arrangement and the new UK restructuring plan procedure embodied in the Corporate Insolvency and Governance Act 2020
• a comparison of the Directive with Chapter 11 of the US Bankruptcy Code, the United Nations Commission on International Trade Law legislative guide on insolvency, and the World Bank’s Insolvency and Creditor Rights and Doing Business projects.

This important new book provides a detailed and practical analysis of the Directive and the implications for its transposition into national laws, making it an essential work for insolvency lawyers and practitioners, as well as EU policy makers. It will also be critical reading for academics and students of law, particularly those interested in commercial, insolvency, corporate and European law.

About the Author

Gerard McCormack, Professor of International Business Law, University of Leeds, UK