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Pre-Insolvency Proceedings: A Normative Foundation and Framework

Pre-Insolvency Proceedings: A Normative Foundation and Framework

Author: Nicolaes Tollenaar
Publisher: Oxford University Press
ISBN: 9780198799924
Published In: February 2019
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

This timely new work evaluates the law regarding pre-insolvency proceedings, and in particular, the terms of the 2017 EU Directive. Setting the law in context, the book provides a conceptual framework for ideal practice, illustrating the implications of the new regime with specific practical examples.

The book features a comprehensive discussion of the key principles underlying restructuring proceedings and explains the purpose of, and justification for, pre-insolvency proceedings. It provides answers to a number of important issues that are still undecided and the subject of debate.

In particular, the book provides detailed analysis of the system of voting in classes, and it offers an in-depth discussion of the appropriate criteria for confirmation and cram-down together with consideration of the little-understood underlying economic issues. It also includes analysis of the key aspects of valuation and the applicable valuation standards in the context of restructuring, much needed as the incidence of judicial valuation arises in the context of cram-down.

A comparative analysis and critique of UK schemes of arrangement and US Chapter 11 procedure is also included, giving readers a good understanding of the key features of both systems and enabling them to identify and learn from the differences. The author also proposes an outline of ideal pre-insolvency proceedings, setting out general and specific requirements for ensuring flexibility, efficiency, and effectiveness.

Foreword

Preface

About the author _

Abbreviations and defined terms

Table of Contents _

1: Introduction

2: Insolvency law: objective and justification

3: Pre-insolvency proceedings: objective and justification

4: Plan governance: a hybrid model with both a democratic and a judicial component

5: Initial observations on valuation and valuation terminology

6: The US Chapter 11 plan procedure

7: The English scheme of arrangement