The purpose of this book is to provide a coherent overview of the insolvency systems found around the world. Its intended audience includes academics, judges, lawyers, and policymakers. Its focus is ...on businesses rather than natural persons. The authors hope to give the reader a sense of some of the principal approaches to managing the general default of a business debtor. The authors will discuss the nature of the costs and benefits arising from the various policy choices legislators have made. In the process, they will emphasize the close interrelationship among various elements of an insolvency regime so that these elements can be viewed as part of an overall system and not just as a series of policy decisions about particular rules, such as the method of initiation of an insolvency case or the balance struck in setting the boundaries of an avoidance power. The organization of the book reflects our view of insolvency laws as complete systems, including not only the 'insolvency' or 'bankruptcy' code of a jurisdiction but also closely related laws and the institutional framework in which those laws are applied. The book takes a systematic approach to a variety of topics related to credit and insolvency regulation. The functional analysis starts with the study of debt enforcement, continues with an examination of general corporate insolvency legislation, corporate rehabilitation proceedings, informal workouts, employee rights, judicial and administrative institutions, and the considerations key to cross-border insolvency proceedings.
In this paper we analyze the process of the transition from civil to criminal matters in cases of fraudulent insolvency and also propose a solution through a procedure with clear rules and divided ...doctrinal positions, which has led to the absence of a correct criterion, and therefore, inefficient effective judicial protection. In this sense, three fundamental pillars are analyzed: first, to identify if it is the civil judge, or in its absence to the State Attorney General, second, to clarify at what procedural moment, the civil judge must resolve preliminary and Finally, analyze the judicial activity of the General Prosecutor's Office of the State and the Judges.
In 1982, the Insolvency Law and Practice: Report of the Review Committee ("the Cork Committee") recommended the preservation of viable commercial enterprises, as an alternative to company winding up, ...in appropriate circumstances. Although the primary purpose of administration, which was subsequently enacted to foster a "rescue culture", is to rescue a company as a going concern, under the third statutory purpose, an administrator may realise the company's assets to make a distribution to one or more secured or preferential creditors. Thereafter, the administration may be converted to a liquidation or move directly to dissolution where all the assets have been liquidated during administration. The three purposes of administration are listed in order of primacy which means the third purpose can only be adopted if the administrator thinks that it is not reasonably practicable to either achieve company rescue or a better result for the company's creditors as a whole than would be likely in an immediate winding up. The administrator's function of making distributions and the ability to move the administration into winding up or dissolution cannot be reconciled with the theory of corporate rescue which was envisaged by the Cork Committee. In light of the fundamental principles and purposes of insolvency law and empirical evidence, this thesis argues that the administration regime, under Schedule B1 of Insolvency Act 1986, is not fit for purpose and is frequently used by insolvent companies as 'quasi-liquidation' and dissolution of the company. In short, the rescue approach adopted under the administration framework is inconsistent and obscures the distinction between the concepts of creditor enforcement, corporate rescue and winding up.
No Brasil, os modelos de previsão de insolvência de maior destaque são os de Kanitz (1978), Altman (1979), Matias (1978), Elizabetsky (1976) e Silva (1982), os quais têm inspirado a produção ...científica a esse respeito, especialmente nos últimos 20 anos. No entanto, o número de revisões da literatura ou mapeamentos bibliométricos nessa área ainda é baixo, com uma representatividade de apenas 5% dos trabalhos reunidos nesta pesquisa. Nesse contexto, com o objetivo de responder sobre a precisão da confiabilidade dos modelos preditivos brasileiros apontada na literatura, a presente pesquisa realizou um mapeamento bibliométrico a partir das bases bibliográficas CAPES e SPELL. Foram extraídos e analisados 42 artigos resultantes da busca pelos termos “insolvência” e “modelos de previsão” nas bases citadas. Os resultados apontam que os pesquisadores dos modelos preditivos frequentemente fizeram relação entre eles e o mercado financeiro e empresarial; e que a maioria das pesquisas realizadas teve como objetivo a construção de um novo modelo preditivo, sendo a provável razão disso apresentada na resposta da pergunta deste artigo: foi apurado que a acurácia da confiabilidade dos modelos preditivos já existentes não é satisfatória. Assim, esta pesquisa, que é qualitativa, contribui para o mapeamento dos trabalhos sobre previsão de insolvência desenvolvidos no Brasil e para a compreensão do seu delinear temático.
The thesis addresses the topic of the harmonisation of transaction avoidance in the European Union (EU). In the light of the unsatisfactory transaction avoidance regimes in cross-border scenarios as ...provided by the European Insolvency Regulation recast and other EU regulations, this study aims to contribute to the formulation of harmonised avoidance rules for the EU. In particular, this study analyses the issues concerning the avoidance powers in insolvency proceedings and the transaction avoidance claims available in private law. The study compares the avoidance actions within and outside insolvency proceedings in selected member states: England, Germany, and Italy. The work is organised into three parts. The first part provides a theoretical background to the thesis and it is organised into two chapters. After the introduction, the first chapter supplies the research with the definition of ‘harmonisation’ and ‘transaction avoidance’ in insolvency law and private law. Chapter three analyses the current EU regulations on the topic. It explains the problems emerging in the Private International Law approach adopted at the EU level and it illustrates the reasons why the current EU system of transaction avoidance is unsatisfactory. The second part of the thesis analyses three legal systems: England, Germany, and Italy. This section is organised into three chapters; each chapter analyses the avoidance regimes adopted in each national legal system. Every chapter considers both insolvency and private law claims and it analyses how they interact within the national legal system. Finally, the third part seeks to provide a solution to the problems illustrated in the second chapter. This part is divided into two chapters. One chapter provides a comparative analysis of the national legal systems. The last chapter designs guidelines for the further harmonisation of the transaction avoidance claims inside and outside insolvency law at the EU level, in order to improve the EU Insolvency system and strengthen the framework for credit enforcement across EU.
PDF
