Blog

The decade since the financial crisis has witnessed a proliferation of various ‘light touch’ financial restructuring techniques in the form of so-called pre-insolvency proceedings. These proceedings...

The potential of financial technology for innovation and growth is well-established by now. Yet startups often face many regulatory challenges in the early years, obstructing market access...

The Business & Liability Research Network (BLRN)—a partnership between the Company Law department and the Business Studies department of the Leiden Law School—is launching its call for proposals...

In a chapter of the book ‘The Law and Finance of Related Party Transactions’ (L Enriques and T Tröger eds, CUP 2019), I explain why some controlling shareholders in bad-law jurisdictions ‘generously...

In my new paper 'Revisiting Legal Capital', I argue for the UK to revisit the legal capital (maintenance of capital) doctrine. Leaving the EU could present an opportunity, but to reform legal capital...

Successfully restructuring a business in financial distress requires that there be sufficient remaining value to justify saving it. Traditional corporate rescue and restructuring laws were focused on...

It is settled case law of the Court of Justice of the European Union (CJEU) that parent companies can be fined for competition law infringements committed by their subsidiaries and that successor...

Centros and the cases following it had a profound transformational effect on European company law. While it has so far not resulted in fully-fledged regulatory competition for publicly traded...

With Brexit fast approaching, firms which have passports under Schedule 3 to Financial Services and Markets Act 2000 (‘inbound passporting EEA firms’) are making final preparations for the post-...

A Case for Shareholders’ Fiduciary Duties in Common Law Asia seeks to reconceptualise the role of shareholders in listed companies as one that should include fiduciary duties, particularly the duty...

In our article, we aim to analyse the issue of non-financial information, as ultimately regulated by the European Directive 2014/95/EU, and its implementation by each European Member State, with an...

On 27 June 2019, the University of Cambridge Faculty of Law hosted the 2nd SMU–3CL Cambridge Roundtable on Corporate Insolvency Law. This roundtable is an initiative jointly organised by the...

The current debate on the competitive risks of common ownership has focused on whether index investments soften competition among portfolio companies. However, even if one concedes, in arguendo, that...

Sovereign nations urgently need help in resolving unsustainable debt burdens. The median public debt of the sixty low-income developing countries increased from 33.5% of GDP in 2013 to 47% of GDP in...

A small number of large fund groups have become an increasingly influential force by controlling a significant share of publicly-traded companies, a phenomenon often termed ‘common ownership’. They...

The UK has recently embarked on far-reaching reform to its approach to senior management accountability in financial services, in contrast to the US’s approach, which has seen more evolutionary...

EU Regulation 2015/848 on insolvency proceedings (Recast) laid down new rules on the debtor’s ‘centre of main interests’ (COMI). However, one may doubt that these efforts have succeeded. Moreover, ‘...