The future of harmonisation of directors' duties in the European Union: The Preventive Restructuring Directive and group insolvencies

Coherent privaatrech

Insolvency of significant non-financial enterprises: lessons from bank failures and bank resolution

Coherent privaatrech

Intra-group financing and enterprise group insolvency: problems, principles and solutions

What do Lehman Brothers, Nortel Networks and Oi Brazil have in common, apart from the fact that they were or remain large multinational enterprise groups that at some point became insolvent? They are characterized by the integrated nature of their business, facilitated through elaborate networks of intercompany financial arrangements. Some of these arrangements “perforate” limited liability (eg cross-guarantees), while others closely tie the fates of separate group entities (eg intra-group loans, centralized cash management). As a result, the idea of entity separateness, underpinning modern insolvency law, hardly reflects present-day economic and legal realities. This thesis examines typical intra-group financial transactions and explores their influence on and treatment in insolvency and restructuring of corporate groups. It explains the problems, discusses underlying legal principles, and offers targeted solutions, based on a thorough analysis of modern commercial practices and legal tools from three leading restructuring forums – the UK, the USA and the Netherlands.Coherent privaatrech

The rise of ‘group solution’ in insolvency law and bank resolution

Coherent privaatrech

Promotion of group restructuring and cross-entity liability arrangements

Coherent privaatrech

Arbitration Reform in Russia: Will Russia Become More Arbitration-Friendly?

Coherent privaatrech

Recognition of Foreign Insolvency Judgments: The Case of Yukos

Coherent privaatrech

Improving Restructuring of Corporate Groups in Europe: Report on the ELI and BLRN conferences in December 2018 [TvI 2019/21]

Coherent privaatrech