Corporate Insolvency Law — Overview
Publications
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Showing all 6 Corporate Insolvency Law publications currently held in our database
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Journal Articles
Roy Goode, 'Perpetual Trustee and Flip Clauses in Swap Transactions' (2011) 127 Law Quarterly Review 1 [...]
A case note on the Court of Appeal decision on the anti-deprivation principle of insolvency law. The case note was referred to at several points in the judgments of the Supreme Court
ISBN: 0023-933X
L Gullifer, 'The reforms of the Enterprise Act 2002 and the Floating Charge as a security device' (2008) 46 Canadian Business Law Journal 399 [...]
Recently the UK Government passed the Companies Act 2006, which introduced many reforms to English Company Law as well as reproducing existing law in one (very long) statute. There have also been significant changes in the Corporate Insolvency area introduced by the Enterprise Act 2002, and by case law. This paper will focus on the current fate of the floating charge as a security device.
WG Ringe, 'Forum Shopping under the EU Insolvency Regulation' (2008) 9 European Business Organization Law Review 579 [...]
DOI: 10.1017/S156675290800579X
Cross-border forum shopping for the benefit of a different insolvency law regime has become popular within the European Union in recent years. Yet legislators, courts and legal scholarship react with suspicion when debtors cross the border only to profit from a different insolvency law system. The most prominent legal tool, the European Insolvency Regulation, is based on the assumption that forum shopping is bad for the functioning of the European Internal Market. This paper questions the hostile attitude towards the phenomenon of forum shopping. It is argued that forum shopping can have beneficial effects both for the company and for its creditors, and that strong safeguards for creditors who oppose the migration are in place. Furthermore, the validity of the COMI approach of the Regulation under the fundamental freedoms of the Treaty is questioned; it is suggested that the current regime needs to be amended. The proposed new system would enable more corporate mobility within the European Union and create more legal certainty for all constituencies at the same time.
Books
WG Ringe, L Gullifer and P Théry (eds), Current Issues in European Financial and Insolvency Law - Perspectives from France and the UK (Hart Publishing, Oxford and Portland, Oregon 2009) [...]
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.
ISBN: 978-1841139357
Courses
The courses we offer in this field are:
Postgraduate
BCL
Our taught postgraduate programme, designed to serve outstanding law students from common-law backgrounds
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Corporate insolvency gives rise to a number of fascinating and complex questions. Which assets can be claimed by the company’s creditors? What should be done with them? How should the proceeds raised be distributed amongst the creditors? How should those responsible for the company’s losses be dealt with? In addition, many interesting questions from other areas of law (particularly property law) come to be raised and explored in the context of insolvency. The course seeks to develop an understanding of the ways these issues are resolved by the current law. Students will also be expected to analyse and evaluate the law, and consideration will be paid to the business context in which insolvency disputes arise.
The course begins with an overview of the functions of insolvency procedures. It then examines, in the context of winding-up, the relationship between insolvency law and the general law of property and obligation, and the extent to which insolvency law interferes with rights accrued under the general law, and examines the rationality of the legal principles underlying the rules relating to the treatment of claims and the distribution of assets in winding up. The course then turns to consider procedures that are capable of securing the continuation of viable businesses, often referred to as “corporate rescue”. The most significant of these is the administration procedure, but administrative receivership, which it is gradually replacing, is also still of some practical importance. They raise interesting and complex questions about the allocation of decision-making power, and the mechanisms for ensuring the accountability of decision-makers. More informal procedures, in particular schemes of arrangement, are also considered. Company law also has a role to play in relation to insolvent companies, raising in particular such questions as the liability of a parent for the debts of its subsidiary and the responsibilities of directors under general law and under insolvency legislation. Lastly, the issues discussed throughout the course are considered in a comparative context, and the problem of cross-border insolvency, particularly in the context of the EC Regulation on Insolvency Proceedings, is examined.
No prior knowledge of the subject is required, nor is it necessary to have studied company law, though this is of some advantage. MJur students are welcome, especially if they have prior knowledge of corporate insolvency in their own jurisdictions, but they must be prepared to engage with the case law and with UK statutes where appropriate. The teaching group comprises Professor J Armour, Professor L Gullifer, Professor J Payne, Professor G Moss and Professor H Eidenmueller. The teaching consists of a combination of lectures and seminars. Guest lectures by visiting academics and practitioners may also be given at various points. Revision tutorials will be arranged in the seminars.
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MJur
Our taught postgraduate programme, designed to serve outstanding law students from civil law backgrounds.
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Corporate insolvency gives rise to a number of fascinating and complex questions. Which assets can be claimed by the company’s creditors? What should be done with them? How should the proceeds raised be distributed amongst the creditors? How should those responsible for the company’s losses be dealt with? In addition, many interesting questions from other areas of law (particularly property law) come to be raised and explored in the context of insolvency. The course seeks to develop an understanding of the ways these issues are resolved by the current law. Students will also be expected to analyse and evaluate the law, and consideration will be paid to the business context in which insolvency disputes arise.
The course begins with an overview of the functions of insolvency procedures. It then examines, in the context of winding-up, the relationship between insolvency law and the general law of property and obligation, and the extent to which insolvency law interferes with rights accrued under the general law, and examines the rationality of the legal principles underlying the rules relating to the treatment of claims and the distribution of assets in winding up. The course then turns to consider procedures that are capable of securing the continuation of viable businesses, often referred to as “corporate rescue”. The most significant of these is the administration procedure, but administrative receivership, which it is gradually replacing, is also still of some practical importance. They raise interesting and complex questions about the allocation of decision-making power, and the mechanisms for ensuring the accountability of decision-makers. More informal procedures, in particular schemes of arrangement, are also considered. Company law also has a role to play in relation to insolvent companies, raising in particular such questions as the liability of a parent for the debts of its subsidiary and the responsibilities of directors under general law and under insolvency legislation. Lastly, the issues discussed throughout the course are considered in a comparative context, and the problem of cross-border insolvency, particularly in the context of the EC Regulation on Insolvency Proceedings, is examined.
No prior knowledge of the subject is required, nor is it necessary to have studied company law, though this is of some advantage. MJur students are welcome, especially if they have prior knowledge of corporate insolvency in their own jurisdictions, but they must be prepared to engage with the case law and with UK statutes where appropriate. The teaching group comprises Professor J Armour, Professor L Gullifer, Professor J Payne, Professor G Moss and Professor H Eidenmueller. The teaching consists of a combination of lectures and seminars. Guest lectures by visiting academics and practitioners may also be given at various points. Revision tutorials will be arranged in the seminars.
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MSc (Master's in Law and Finance)
Corporate insolvency gives rise to a number of fascinating and complex questions. Which assets can be claimed by the company’s creditors? What should be done with them? How should the proceeds raised be distributed amongst the creditors? How should those responsible for the company’s losses be dealt with? In addition, many interesting questions from other areas of law (particularly property law) come to be raised and explored in the context of insolvency. The course seeks to develop an understanding of the ways these issues are resolved by the current law. Students will also be expected to analyse and evaluate the law, and consideration will be paid to the business context in which insolvency disputes arise.
The course begins with an overview of the functions of insolvency procedures. It then examines, in the context of winding-up, the relationship between insolvency law and the general law of property and obligation, and the extent to which insolvency law interferes with rights accrued under the general law, and examines the rationality of the legal principles underlying the rules relating to the treatment of claims and the distribution of assets in winding up. The course then turns to consider procedures that are capable of securing the continuation of viable businesses, often referred to as “corporate rescue”. The most significant of these is the administration procedure, but administrative receivership, which it is gradually replacing, is also still of some practical importance. They raise interesting and complex questions about the allocation of decision-making power, and the mechanisms for ensuring the accountability of decision-makers. More informal procedures, in particular schemes of arrangement, are also considered. Company law also has a role to play in relation to insolvent companies, raising in particular such questions as the liability of a parent for the debts of its subsidiary and the responsibilities of directors under general law and under insolvency legislation. Lastly, the issues discussed throughout the course are considered in a comparative context, and the problem of cross-border insolvency, particularly in the context of the EC Regulation on Insolvency Proceedings, is examined.
No prior knowledge of the subject is required, nor is it necessary to have studied company law, though this is of some advantage. MJur students are welcome, especially if they have prior knowledge of corporate insolvency in their own jurisdictions, but they must be prepared to engage with the case law and with UK statutes where appropriate. The teaching group comprises Professor J Armour, Professor L Gullifer, Professor J Payne, Professor G Moss and Professor H Eidenmueller. The teaching consists of a combination of lectures and seminars. Guest lectures by visiting academics and practitioners may also be given at various points. Revision tutorials will be arranged in the seminars.
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People
Corporate Insolvency Law teaching is organized by a Subject Group convened by:
Louise Gullifer: Professor of Commercial Law
in conjunction with:
John Armour: Hogan Lovells Professor of Law and Finance
Horst Eidenmüller: Visiting Professor
Gabriel Moss, QC: Visiting Professor
Jennifer Payne: Professor of Corporate Finance Law
Wolf-Georg Ringe: Departmental Lecturer
