scholarly journals The Legal Framework of Corporate Rescue Procedure: A Brief Overview

2015 ◽  
Vol 4 ◽  
pp. 57-65
Author(s):  
Saquib M Shadman
Keyword(s):  
Present Status ◽  
Legal Framework ◽  
Insolvency Law ◽  
The Law ◽  
Corporate Rescue ◽  
Rescue Procedures ◽  
Rescue Procedure ◽  
Insight Into

This paper is designed to throw an insight into the legal framework of corporate rescue procedure of the companies in the case of insolvency which are generally governed by insolvency laws. It analyzes the present status and application of insolvency law of our country in the context of companies, by comparing the same with the law of England & Wales. The paper contains major provisions of the present law relating to corporate rescue procedures in English jurisdiction including landmark judgments given in that context. By this comparison, the paper aims to provide the reader with the instigation of thought for making possible improvements in our present law by way of implementing rescue procedures for companies which are in financial difficulties.Northern University Journal of Law Vol.IV 2013; p.57-65

The law applicable to third-party effects of assignment and the conflict rules for insolvency according to EU law

2019 ◽  
Vol 24 (4) ◽  
pp. 664-684
Author(s):  
Christian Heinze ◽  
Cara Warmuth
Keyword(s):  
Case Law ◽  
Legal Framework ◽  
Third Party ◽  
Legislative Process ◽  
Insolvency Law ◽  
Ongoing Debate ◽  
Good Opportunity ◽  
Insolvency Regulation ◽  
The Law ◽  
The Eu

Abstract In March 2018, the European Commission issued its proposal for a regulation on the law applicable to third-party effects of assignments of claims, aiming to put an end to the ongoing debate on this issue and the legal uncertainty associated with it. On the basis of the Commission’s decision in favour of the application of the law of the assignor’s habitual residence, this article discusses the consequences of the Proposal under European Union (EU) insolvency law. For that purpose, the coherence of the Proposal with the Insolvency Regulation will be examined, first in general and then in more detail. The analysis comes to the result that the Commission’s objective of aligning the Proposal with the legal framework of the Insolvency Regulation has predominantly been well achieved. The authors point out remaining minor inaccuracies that may be clarified in the further legislative process or by later case law. It is concluded that, from the perspective of international insolvency law, the proposed uniform conflict-of-laws rule at the EU level offers a good opportunity to promote legal certainty with regard to cross-border assignments of claims in the future.

8 Close-Out Netting and Safe Harbours

2020 ◽  
Keyword(s):  
Credit Risk ◽  
Legal Framework ◽  
Legal Issues ◽  
Early Termination ◽  
Insolvency Law ◽  
The Law ◽  
Safe Harbours ◽  
Multiple Jurisdictions

This chapter studies the early termination of collateral transactions. It is in this context that the transactions must prove their worth, i.e. must show they indeed reduce or limit the credit risk the collateral taker runs on the collateral provider. To achieve this result, contractual techniques have been developed that have subsequently been sanctioned and protected by the law. The chapter looks at the legal framework regulating those contractual techniques. However, the early termination of collateral transactions and the enforcement by the collateral taker of its rights in the assets provided as collateral involve specific legal issues. The majority of collateral transactions provide for 'close-out netting' as a way of enforcement; close-out netting thus replaces traditional enforcement of security interests, such as public auction. In addition, the termination of collateral transactions, and close-out netting in particular, in multiple jurisdictions is protected by 'safe harbours', i.e. shielded from insolvency law rules that would otherwise be applicable.

21. Corporate rescue

Company Law ◽  
2019 ◽  
pp. 599-621
Author(s):  
Lee Roach
Keyword(s):  
The Law ◽  
The Uk ◽  
Corporate Rescue ◽  
Rescue Mechanism ◽  
A Company ◽  
Rescue Procedure ◽  
Binding Agreement

This chapter examines the rationale behind the rescue culture and the two principal rescue mechanisms: administration and the company voluntary arrangement. The UK has sought to adopt a rescue culture, under which the law offers struggling companies access to several rescue mechanisms. The principal rescue mechanism is administration, under which an administrator is appointed to try and fulfil the purpose of administration. An administrator can be appointed by the court; the holder of a qualifying floating charge; or the company or its directors. A moratorium is imposed once a company enters administration, which prevents certain actions from proceedings. Meanwhile, a company voluntary arrangement is a rescue procedure that allows a company to enter into a binding agreement with its creditors. A company voluntary arrangement begins with a proposal being made, and that proposal must then be approved by the company and creditors.

Part II A View Through Illustrative Contracts and Harmonizing Instruments, 15 Transactions in Securities

2015 ◽  
Keyword(s):  
Legal Framework ◽  
Regulatory Framework ◽  
Property Law ◽  
International Treaties ◽  
Insolvency Law ◽  
Conflict Of Laws ◽  
Paper Form ◽  
The Hague ◽  
The Law

Chapter 15 examines the transnational legal framework for intermediated securities. It describes the shift from a world in which securities were primarily held and traded in paper form to a market in which they are held in immobilized or dematerialized form and traded through intermediaries. This shift required changes to national and regional legislation and resulted in the adoption of two international treaties: the Hague and Geneva Securities Conventions. The chapter pays attention to aspects of property law, the law of obligations, insolvency law, conflict of laws, and the regulatory framework for intermediated securities. Particular information is provided on financial collateral transactions and close-out netting.

scholarly journals Complementary Protection in Japan: To What Extent Does Japan Offer Effective International Protection for Those Who Fall Outside the 1951 Refugee Convention?

Laws ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 16
Author(s):  
Brian Aycock ◽  
Naoko Hashimoto
Keyword(s):  
Empirical Evidence ◽  
Case Law ◽  
Legal Framework ◽  
International Protection ◽  
Immigration Control ◽  
Protection Policy ◽  
Critical Elements ◽  
The Law ◽  
Elite Interviews ◽  
Insight Into

This study focuses on what Japan’s Immigration Control and Refugee Recognition Act (ICRRA) calls ‘Special Permission to Stay’ (zairyū tokubetsu kyoka) on humanitarian grounds (SPS), and evaluates the extent to which SPS provides effective international protection for those who are not recognized as refugees in Japan. The evaluation uses the European Union’s Qualification Directive (QD) as a yardstick. This paper explains the legal framework through which Japan offers complementary protection and explores the application of the law in practice. By investigating cases of SPS granted in Japan over a five-year period, the authors infer the prevailing legal interpretations on critical elements of complementary protection policy not clearly defined in the ICRRA. Case law is not widely available in Japan, but the authors have analysed all of the available case summaries provided by the Ministry of Justice only in Japanese. This work represents the first research conducted in English into these summaries. Further, several elite interviews were conducted with key senior immigration officials to gain insight into the inner workings of the Japanese system of SPS. Based upon the empirical evidence collected, the research demonstrates that the ICRRA often lacks clarity and is too discretionary, but that it also provides flexibility that allows a more inclusive application of the law.

scholarly journals PRIORITY AS PATHOLOGY: THE PARI PASSU MYTH

2001 ◽  
Vol 60 (3) ◽  
pp. 581-621 ◽  
Author(s):  
Rizwaan Jameel Mokal
Keyword(s):  
Case Law ◽  
Accurate Description ◽  
Insolvency Law ◽  
Distinctive Features ◽  
Actual Role ◽  
The Status ◽  
Corporate Rescue ◽  
Rescue Procedures

This paper argues that the pari passu principle of insolvency law does not fulfil any of the functions often attributed to it. It does not constitute an accurate description of how the assets of insolvent companies are in fact distributed. It has no role to play in ensuring an orderly winding up of such companies. Nor does it underlie, explain, or justify distinctive features of the formal insolvency regime, notably, its collectivity. The case-law said to support the pari passu principle serves actually to undermine its importance. And the principle has nothing to do with fairness in liquidation. The substantive argument in the paper concludes by examining the actual role of the principle. The arguments made here have important implications for almost every debate about insolvency law, from the status of secured and preferential creditors to the appropriate role of corporate “rescue” procedures.

Corporate Insolvency Law and Reforms in South Africa

2019 ◽  
pp. 88-106
Author(s):  
Amit Kumar Kashyap ◽  
Harsha Asnani
Keyword(s):  
South Africa ◽  
South African ◽  
Insolvency Law ◽  
Corporate Insolvency ◽  
Corporate Rescue ◽  
Rescue Procedures ◽  
Legal Infrastructure

Every country has provided business recuse system and a regime for the protection of insolvent debtors. South Africa has had this legal infrastructure since 1926 when the statutory procedure of judicial management was introduced by the Companies Act 1926. The chapter discusses the judicial management, mechanisms to secure unpaid debts, carrying on business during insolvency, and the new corporate rescue procedures applicable for South African companies as provided in Companies Act 2008. The chapter also puts a light on corporate insolvency informs in South Africa.

scholarly journals SECURITY PROPERTY OR THE INSTITUTE OF PLEDGE ACQUISITION ACCORDING TO THE CIVIL LAW OF ESTONIA

2015 ◽  
Vol 1 (4) ◽  
pp. 0-0
Author(s):  
Сергей Синицын ◽  
Sergey Sinitsyn
Keyword(s):  
Civil Law ◽  
Legal Framework ◽  
Legal Regulation ◽  
Private Law ◽  
Soviet Space ◽  
The Law ◽  
Security Property ◽  
Insight Into ◽  
Post Soviet Space

Legal regulation of proprietary interest in Estonia is associated with adoption of the Law “On the Proprietary Interest” in 1993, which has established the legal framework of the systemic proprietary interest regulation in the Estonian civil law. It must be noted that this law is distinguished by its substantive elaboration of general provisions on proprietary interest and individual elements of the system of proprietary rights (ownership, limited proprietary rights, possession), is prepared on the basis of consistent terminology and with the use of a ramified framework of categories and concepts of civil law. Insight into contents of the Law “On the Proprietary Interest” leaves no doubt as to its long-term elaboration and discussions, with involvement of the legal community and foreign experts, which, it is logical to assume, should have preceded its adoption. However, the reality is that the adoption of the Estonian law “On Proprietary Interest” was a rapid revolutionary step of the national legislators in the post-Soviet space, in the conditions of the crashed system of the socialist civil law and its guiding principles, which, in principle, had not been aware of any regulation of the system of proprietary rights and its individual elements. It is, certainly, possible to assume that the Estonian legislation has borrowed the provisions and institutions which had been regulated by the 1940 draft Civil Code of Estonia, which had been drawn up on the basis of the 1865 Code of Civil Legislations of Baltic (Ostsee) Provinces. However, it is impossible not to see as well that the Estonian law “On Proprietary Interest” has also apprehended the modern traditions of the continental European private law in regulation of certain institutions of proprietary interest, which evidences another manifestation of trends of harmonization and integration of civil law in Europe.

scholarly journals Sex Work in Slovenia: Assessing the Needs of Sex Workers

2021 ◽  
pp. 136078042110184
Author(s):  
Leja Markelj ◽  
Alisa Selan ◽  
Tjaša Dolinar ◽  
Matej Sande
Keyword(s):  
Needs Assessment ◽  
Sex Work ◽  
Sex Workers ◽  
Point Of View ◽  
Social Distress ◽  
Legal Advice ◽  
The Law ◽  
Client Relations ◽  
Insight Into

The research comprehensively identifies the needs and problems of sex workers in Slovenia from the point of view of three groups of actors in a decriminalized setting. The objective of the rapid needs assessment was to identify the needs of sex workers as perceived by themselves. In order to gain a deeper insight into this topic, we analyzed the functioning of the organizations working with the population, and examined the perspective of the clients. The results of the study show that no aid programmes have been developed for sex workers, even though organizations from various fields often come in contact with this population. Sex workers express the need to be informed about various topics (health, the law, legal advice) and emphasize client relations as the primary issue. The findings indicate the need for the development of a specialized aid programmes to address the fields of advocacy, reducing social distress and providing psychosocial assistance.

The Legal Framework for Foundations in the Habsburg Monarchy from 1750 to 1918

2017 ◽  
Vol 1 (2) ◽  
pp. 154-172
Author(s):  
Gabriele Schneider
Keyword(s):  
Public Good ◽  
Legal System ◽  
Legal Framework ◽  
The State ◽  
Habsburg Monarchy ◽  
The Public ◽  
Regulation And Supervision ◽  
Role Of The State ◽  
The Law

Foundations, as permanent funds established by a certain legal act, can serve manifold purposes, but often pursue charitable goals. As such, they play an important role for the public good. Therefore, states always had an interest in fostering foundations by providing a pertinent legal framework. In Austria, this topic has not yet been the focus of scholarship. Through this study some light is shed on the implementation of the law on foundations in the Habsburg Monarchy. It focuses on the role of the state and its legal system regarding the regulation and supervision of foundations from 1750 to 1918. This period is characterized by the sovereigns’ endeavor to regulate the position of foundations via extensive legislation. In particular, a system of oversight for foundations was created in order to guarantee the attainment of their charitable goals. In fact, this system prevailed until the end of the 20thcentury.

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