INSOL Europe’s proposals on groups of companies (in cross-border insolvency): a critical appraisal
International bodies have started to address the problem of cross-border insolvency of corporate groups rather recently. UNCITRAL has adopted a set of recommendations and the EU Commission may address the matter in the near future, in the process of revising the European Insolvency Regulation. It is...
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| Format: | Article |
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Wiley
2012
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| Online Access: | https://eprints.nottingham.ac.uk/1721/ |
| Summary: | International bodies have started to address the problem of cross-border insolvency of corporate groups rather recently. UNCITRAL has adopted a set of recommendations and the EU Commission may address the matter in the near future, in the process of revising the European Insolvency Regulation. It is, therefore, timely to evaluate major proposals for the Regulation’s amendment regarding groups, suggested by INSOL Europe. The paper critically evaluates the proposals regarding coordination of group cases and the concept of substantive consolidation. This evaluation takes account of both the variety of possible group structures and the goals the insolvency regime would aim to achieve. |
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