el objeto del presente trabajo es el análisis de la interpretación del artículo 3.1 del Reglamento sobre procedimientos de insolvencia contenida en la resolución del TJUE de 24 de marzo de 2022, ...Galapagos BidCo, C-723/20, que tiene como finalidad dilucidar qué tribunal es competente internacionalmente para incoar un procedimiento de insolvencia principal, cuando hay una solicitud previa ante un tribunal de otro Estado miembro y este último no ha declinado ni asumido su competencia. A tal fin, el órgano jurisdiccional remitente pregunta al TJUE por criterios que permitan determinar la localización del centro de intereses principales de la sociedad deudora cuando se suceden varios traslados en un período de tiempo reducido, lo que puede entenderse como una búsqueda de un foro de conveniencia en detrimento de los intereses de sus acreedores. Si bien el TJUE se abstiene de entrar en el fondo de esta cuestión, sí señala que la solicitud de un procedimiento de insolvencia principal ante un tribunal de un Estado miembro excluye, por el principio de la perpetuatio fori, la competencia de los tribunales de otro Estado de incoar un procedimiento similar con el mismo objeto.
This article focuses on the coordination of main and secondary insolvency proceedings in cross-border insolvency cases. The authors analyse how main and secondary insolvency proceedings should be ...coordinated in different aspects of these proceedings, namely: the opening of insolvency proceedings, the exercise of creditors’ rights, and the treatment of the debtor’s assets. The procedural peculiarities of the opening of secondary insolvency proceedings are also discussed. The article also examines how insolvency practitioners and courts in parallel cross-border insolvency proceedings should coordinate their actions to ensure proper response to the debtor’s insolvency problems. Moreover, the authors assess the relevant case law of the Court of Justice of the European Union and whether is compatible with the goal of effective cross-border insolvency proceedings.
This paper examines how the composition and characteristics of corporate boards relates to firms' success and solvency; the study here focuses on the question of insolvency. This study finds that ...both board composition and member characteristics relate to whether or not firms can avoid bankruptcy. Boards have a major role to play in whether or not the company can remain solvent. A more versus less independent board, one which is larger and comprised of older members, has more members currently serving as CEOs of other companies, and whose independent/outside directors own less stock is best positioned to help a firm remain out of bankruptcy. Firms may use the results to custom tailor boards as older members retire and new members are inducted.
► Data on corporate board characteristics and composition are gathered. ► The sample is bifurcated into bankrupt and non-bankrupt companies. ► Previously identified relationships concerning boards and bankruptcy are confirmed. ► Board composition and characteristics are significantly related to corporate success. ► CEO/Chairmanship duality did not distinguish between solvent and bankrupt firms.
This article analyzes the problems of ensuring the effectiveness of restructuring proceedings when implementing the Restructuring and Insolvency Directive into the law of the Republic of Lithuania. ...It examines the economic, social, and legal objectives of restructuring proceedings, and how this process can preserve viable companies operating in the market which encounter issues of solvency. The goals of the Restructuring and Insolvency Directive and the need to harmonize restructuring proceedings in the European Union are also assessed.This article additionally focuses on analyzing elements of ensuring the effectiveness of the restructuring proceedings set out in the Restructuring and Insolvency Directive: essential contracts, new and interim financing, suspension of individual enforcement measures, and the confirmation of a restructuring plan. It analyzes how these elements of the restructuring proceedings can help to ensure the preservation of viable companies and the continuity of activities during restructuring proceedings.Finally, this article also examines the proposed amendments to the Law on the Insolvency of Legal Entities regarding the implementation of the Restructuring and Insolvency Directive, and considers whether the proposed amendments will increase the efficiency of restructuring proceedings.
RESUMEN: El presente trabajo analiza el problema del sobreendeudamiento del consumidor en Chile a la luz de las Directivas dictadas por el Parlamento europeo y lo realizado en esta materia ...especialmente por España. La primera parte se refiere a la noción, causas y problemas que genera el fenómeno de sobreendeudamiento en Chile, para luego revisar cómo se ha enfrentado en Europa para evitar que el consumidor pase de una situación de sobreendeudamiento a una situación de insolvencia.
Prezentul articol vizează clarificarea aspectelor practice ale răspunderii penale pentru infracțiunile legate de insolvabilitate, prin evaluarea jurisprudenței naționale în materie. Pentru atingerea ...acestui scop autorul a selectat și a analizat practica judiciară a deciziilor Curții Supreme de Justiție; și-a expus viziunea critică asupra unor probleme contradictorii în materia diferențierii faptelor penale prevăzute la art.252 și 253 CP RM. În urma studiului științific întreprins, au fost formulate unele reguli de calificare ținându-se cont de specificul infracțiunilor legate de insolvabilitate, fiind elaborate și propuse spre aplicare anumite îndrumări explicative care vizează faptele penale analizate. PRACTICAL STUDY ON NATIONAL CASE LAW IN THE FIELD OF INSOLVENCY OFFENSESThis article aims, by evaluating the national case law, to clarify the practical aspects of criminal liability for insolvency offenses. In order to achieve this goal, the author selected and analyzed the case law of the Supreme Court of Justice; he presented his critical vision on some contradictory issues in the matter of the differentiation of the criminal acts provided for in articles 252 and 253 Penal Code of the RM. Following the scientific study undertaken, some qualification rules have been formulated taking into account the peculiarities of criminal acts related to insolvency offenses, as result being elaborated and proposed for the application some explanatory guidelines regarding the analyzed criminal acts.
Flüchten deutsche Unternehmen aufgrund des nationalen AGB-Rechts durch Rechtswahl in ihren Handelsverträgen in ausländische Rechtsordnungen? Sollte die deutsche AGB-Kontrolle im unternehmerischen ...Rechtsverkehr daher liberalisiert werden? In der anhaltenden Reformdebatte wird das Risiko einer Rechtsflucht besonders hervorgehoben. Wie groß ist diese Gefahr jedoch wirklich? Welchen Unternehmen würde eine liberalisierende Reform nützen und welchen schaden? Diese Fragen untersucht Antonia Sommerfeld und liefert dadurch wichtige Erkenntnisse für die gegenwärtige Reformdebatte. Sie zeigt, dass der Einfluss des AGB-Rechts als Auslöser für eine Rechtsflucht überschätzt wird und dass eine vermehrte Wahl der deutschen Rechtsordnung in Handelsverträgen nicht allein durch eine Reform des AGB-Rechts erreicht werden kann. Die Arbeit wurde mit dem Förderpreis der Esche Schümann Commichau Stiftung 2021 sowie dem Werner-von-Melle-Preis 2021 der Hamburgischen Wissenschaftlichen Stiftung ausgezeichnet.
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