Insolvency

Capital structure and managerial compensation: the effects of remuneration seniority

When trust is not enough : Bank resolution, SPE, Ring-fencing and group support

This discussion paper investigates the differences existing between the Single Point of Entry and the Multiple Point of Entry resolution models and...

Contracting for a European Insolvency Regime

The European Commission has proposed a directive on ‘preventive restructuring frameworks’ for financially distressed firms. I demonstrate that...

My Creditor’s Keeper: Escalation of Commitment and Custodial Fiduciary Duties in the Vicinity of Insolvency

Fiduciary duties in the vicinity of insolvency form a notoriously murky area where legal space warps. Courts openly acknowledge that it is difficult to...

Rediscovering Corporate Governance in Bankruptcy

In this Essay on Lynn LoPucki and Bill Whitford?s corporate reorganization project, written for a symposium honoring Bill Whitford, I begin by very...

What is an insolvency proceeding?

Insolvency proceedings and issues relating to personal and business insolvencies are the daily subject of scholarly work and insolvency practice. But...

How Do Legal Rules Evolve? Evidence From a Cross-Country Comparison of Shareholder, Creditor and Worker Protection

Much attention has been devoted in recent literature to the claim that a country’s ‘legal origin’ may make a difference to its pattern of financial...

What Can Restructuring Laws Do? Geopolitical Shocks, The New German Restructuring Regime, and The Limits of Restructuring Laws

In this article, I discuss the possibilities and limitations of restructuring laws against the background of geopolitical shocks such as the Covid-19...

General Principles of EU Corporate and Insolvency Law

Over more than forty years, the European Union (formerly the European Community) has enacted a large number of directives aimed at harmonising company...

A New Framework for Business Restructuring in Europe: The EU Commission's Proposals for a Reform of the European Insolvency Regulation and Beyond

This paper critically reviews the EU Commission?s proposals for a reform of the European Insolvency Regulation (EIR). The focus of the paper is on the...

The Privatization of Bankruptcy: Evidence from Financial Distress in the Shipping Industry

A generally accepted view is that sophisticated bankruptcy procedures are required to mitigate coordination failures and fire sale discounts arising...

Comparative Corporate Insolvency Law

This chapter deals with fundamental issues of corporate insolvency law. Particular attention is paid to the agency problems related to ?bankruptcy...