Insolvency and Restructuring Manual
Publisher: Bloomsbury Publishing Plc
Published: 2017
Language: eng
Number of pages: 360
ISBN-13: 9781526502261
Subjects: Law, great britain; Bankruptcy
Description: "Insolvency and Restructuring Manual examines the main formal processes involved in the world of corporate insolvency and restructuring such as liquidation, administration, receivership, company voluntary arrangements and schemes of arrangement. Distinctly practical in style Insolvency and Restructuring Manual utilises bullet pointed and highlighted text, flowcharts, tables and other schematics to explain and compare the main procedures and remedies available in this complex area of law. The book begins by dealing with insolvency principles and processes, as it is necessary to know the effects of a formal insolvency in order then to consider restructuring as an alternative. As there are concerns specific to Directors of insolvent companies there is a chapter dealing with these. The special rights and remedies of creditors - not only secured creditors, but also landlords, employees, pensions-related creditors and retention of title creditors - are examined. A variety of additional considerations involved in a restructuring are then highlighted. Finally, given the increasingly global nature of many groups' businesses, cross-border considerations that may apply are covered. Fully revised and updated the new 3rd edition includes: The new Insolvency Rules 2016 (coming into force 6 April, 2017), which are designed to modernise the legislation and incorporate various changes to the law since the rules were last drafted The Recast EU Regulation on Insolvency 2015/848 - key changes include the new definition of centre of main interests (COMI) and the introduction of group coordination proceedings. The Small Business, Enterprise and Employment Act 2015 - including the power for an administrator to bring wrongful/fraudulent trading actions, compensation orders/undertakings against disqualified directors and the changes to the rules regarding reporting and meetings by office holders The creation of the "pre-pack" pool in relation to pre-pack sales to connected parties Developments in relation to schemes of arrangement, including the use of schemes by non-UK companies and the progression of the law in this respect, for example in the cases of Van Gansewinkel Groep BV, MagyarTelecom B.V., Apcoa Parking Holdings GmbH and Codere Finance (UK) Ltd The Lehman Brothers "waterfall" decisions relating to ranking of and proving for certain types of debts The "Game Station" decision in relation to the ranking of rental payments as an administration expense and what liabilities constitute administration expenses Insolvency and Restructuring Manual is an indispensable reference source for experienced practitioners and offers junior professionals, company directors and company secretaries a valuable first introduction to the subject."--Bloomsbury Publishing.