Oxford Business Law Blog

An age-old question in international finance is that of what happens to a despotic government’s debts when the despots are vanquished and the good guys take over. Do the good guys have to pay the...

A recent decision of the Privy Council dismissing the claim of liquidators of an insolvent hedge fund to claw back redemption payments made to an investor leaves lingering uncertainties for investors...

A recent decision of the Hungarian Curia (BH 2017.97) concerned an important question of European private international law: what is the effect of the opening of insolvency proceedings on...

Since the global financial crisis, insolvency and restructuring law have been at the forefront of law reform initiatives in Europe and elsewhere. The specific topic of business rescue ranks top on...

In 2015, the number of Israeli debtors who were insolvent was nearly 75,000, and the number of bankruptcy applications stood at 50,296; all together, 2.2% of the total population in Israel looked to...

For creditors, insolvency proceedings hold the promise of a peaceful afterlife. If their debtor fails to satisfy their claim, an impartial liquidator will take over and, to the extent possible and in...

In several jurisdictions, employees’ claims for unpaid wages and contributions are entitled to preferential treatment over other creditors. Employees, however, may also be protected through social...

In debt restructurings, the question frequently arises as to whether a lender can be considered a shadow director (de facto director) as a result of the latter's involvement in the rescue of the...

Introduction The Sapin II Act of November 8 2016 amended the regime governing directors' liability in an insolvency scenario in order to encourage the recovery of honest directors of failed...

As Oscar Couwenberg and Stephen Lubben have demonstrated, foreign firms commonly file bankruptcy in the US in order to take advantage of Chapter 11 of the Bankruptcy Code. But critics outside the US...

Japan went through a severe banking crisis in the 1990s that prompted the country to overhaul its existing framework through a number of reforms, incorporating new recovery and resolution instruments...

The Conference of European Restructuring and Insolvency Law (CERIL) has recently been founded as an independent non-profit, non-partisan, self-supporting organisation of approximately 75 lawyers and...

We are a team of academics at Melbourne Law School and Monash Business School who are investigating the regulation of phoenix activity as part of a project funded by the Australian Research Council...

Historically, insolvency systems have been designed with larger enterprises in mind. They assume an extensive insolvency estate of significant worth, and the presence of creditors and other...

On 22 November 2016, the European Commission published its proposal for a directive on preventive restructuring frameworks. A copy of the proposal can be found here. The directive will, upon adoption...

On 22 November 2016, the European Commission published a draft directive on insolvency, restructuring and second chance (the ‘Proposals’). What are the Proposals? The Proposals have three main parts...