Insolvency Law and Multinational Groups: Theories, Solutions and Recommendations for Business Failure, 1st Edition (Hardback) book cover

Insolvency Law and Multinational Groups

Theories, Solutions and Recommendations for Business Failure, 1st Edition

By Daoning Zhang

Routledge

256 pages

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Hardback: 9780367222017
pub: 2019-08-06
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Description

The insolvency of multinational corporate groups creates a compelling challenge to the commercial world.

As many medium and large-sized companies are multinational companies with operations in different countries, it is important to provide appropriate solutions for the insolvency of these key market players. This book provides a comprehensive overview of the cross-border insolvency theories, practical solutions and regulatory solutions for the insolvency of multinational corporate groups. Whilst the book recognises certain merits of these solutions, it also reveals the limitations and uncertainty caused by them. An analysis of the new EU Regulation on insolvency proceedings 2015, the UNCITRAL Model Law on cross-border insolvency, the Directive on preventive restructuring frameworks and the Bank Recovery and Resolution Directive 2014, along with a study of directors’ duties will be included in this book. This book focuses on the insolvency and rescue of non-financial corporate groups. However, it is also important to recognise the similarities and differences between corporate insolvency regimes and bank resolution regimes. In particular, lessons learnt from bank resolution practices may be useful for non-financial corporate groups.

This book aims to provide an in-depth examination of the existing solutions for the insolvency of multinational corporate groups. It also aims to view cross-border insolvency of corporate groups within a broad context where all relevant regimes and theories interact with each other. Therefore, directors’ duties in the vicinity of insolvency, preventive insolvency proceedings, procedural consolidation, international cooperative frameworks and bank resolution regimes are considered together. This book may appeal to academics, students and practitioners within the areas of corporate law, cross-border insolvency law and financial law.

Table of Contents

Content

List of abbreviations

Table of Cases

Table of legislation

Abstract

Acknowledgement

Chapter 1 Introduction

Chapter 2 Theoretical basis of corporate rescue and implications on rescue of multinational groups of companies

Chapter 3 Cross-border insolvency theories and procedural consolidation

 

Chapter 4 Market/Hybrid approaches to cross-border insolvency of MCGs in the EU

Chapter 5 Group coordination and planning proceedings

 

 

Chapter 6 Directors’ duties of corporate groups

Chapter 7 Lessons from financial institution resolutions

Chapter 8 A way forward

Bibliography

About the Author

Daoning Zhang is a lecturer in law at Canterbury Christ Church University, UK; he obtained his PhD in Law from the University of Manchester.

About the Series

Routledge Research in Corporate Law

The credit crunch of 2007 and the ensuing financial crises have led to a renewed interest in the place of corporations in the modern world and the role of law and regulation in governing their behaviour. This series looks to survey the current developments within the field of corporate law as well as mapping out future opportunities for change. The series offers a comparative approach to the subject, looking not just at North America and Europe but also at the state of affairs elsewhere in the world. Written by influential scholars, the books offer thought-provoking and often critical analyses of corporate law. The functions and legal obligations and rights of multiple stakeholders including directors, investors, governments and regulators are examined from both empirical and theoretical standpoints. Whilst being grounded in law the series also draws upon research from the disciplines of economics, management studies, sociology and politics in order to explore the implications of corporate law in their wider social and economic context.

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Subject Categories

BISAC Subject Codes/Headings:
BUS104000
BUSINESS & ECONOMICS / Corporate Governance
LAW000000
LAW / General
LAW008000
LAW / Bankruptcy & Insolvency
LAW022000
LAW / Corporate