International Insolvency Jurisdictional Comparisons, 3rd Edition

A: Domestic family of Companies
• Bankruptcy/Insolvency proceedings for families of companies
• Administering the assets and the liabilities of the entire corporate family
• Overlapping boards or management teams for separate members of a corporate family
• Rules regarding members who are insolvent of the corporate family transferring assets among one another
• Law treatment claims of one member of a corporate family against other members of the corporate family
• Pooling of assets and liabilities
• Secured creditors treatment with respect to a family of companies

B: International Family of companies
• Members of the corporate family incorporated under or governed by the laws of another country
• Insolvency/restructuring proceedings instituted for corporate family members in different countries

C: Responsibilities of Officers and Directors
• Summary of the specific nature of the duties and responsibilities of officers and directors of a company (in respective jurisdiction)
• Types of conduct that violate the duties and responsibilities of officers and directors
• Duties of officers and directors to creditors, shareholders, Government/taxing authorities, employees in financially distressed company (s)
• Change of duties after a company becomes financially distressed (zone of insolvency) or insolvent
• Civil and criminal exposure for the officers and directors if they violate their duties and responsibilities both before and after insolvency occurs
• Subjection to imprisonment
• Criminal fines or restitution
• Creditor groups civil claims against the officers and directors
• Potential personal civil or criminal liability for officers and directors deciding when and if to put the company in a formal insolvency/reorganisation procedure
• Insurance availability at realistic premiums for officers and directors from claims that arise while operating a financially distressed company
• Personal civil or criminal exposure prevention for officers and directors from resigning their positions
• Frequency of lawsuits against officers and directors for violation of their duties after the commencement of an insolvency/reorganisation procedure
• Successfulness of suits against officer ad directors
• Defences against civil and/or criminal sanctions for directors and officers under general corporate law
• Provisions in bankruptcy or insolvency laws that are specific to the duties as well as sanctions for officers and directors

D: Subsequent restrictions on officers - directors 
• Legal restriction from for officers and directors of insolvent company acting as an officer or director in another company 
• Legal restrictions for personally insolvent officer or director
• Legal restrictions for Insolvent officer or director from obtaining credit as a promoter of a second company
• Imposed legal restriction for officers or directors who have committed malfeasance/mismanagement

Jurisdictional Coverage:
1. Greece
2. Luxembourg
3. France
4. Netherlands 
5. Switzerland 
6. Argentina 
7. UK
8. Italy 
9. Spain
10. USA
11. Ireland 
12. Israel
13. Portugal
14. Colombia
15. Chile
16. Austria
17. UAE
18. Sweden
19. Germany
20. Denmark
21. Russia
22. Austria
23. Hungary
24. Czech Republic
25. Bosnia
26. Republic of Srpska 
27. Slovakia
28. Croatia
29. Ukraine
30. Montenegro and Serbia
31. Slovenia
32. Macedonia
33. Cyprus
34. Poland
35. Hong Kong
36. Australia 
37. Brazil
38. Italy

J. William Boone- Alston & Bird LLP

For over 25 years, Bill has focused his practice on representation of unsecured creditors, financial institutions, trustees and indenture trustees in all aspects of significant domestic and international bankruptcy, workouts and reorganizations, including complicated litigation. In addition, he has substantial experience assisting clients in acquiring assets and operating businesses from bankruptcy estates. In addition, he leads the firm's international practice for the Bankruptcy Group, as well as the task force on municipal distressed assets (MAD). 

Bill is a Fellow of the American College of Bankruptcy and a charter member of the prestigious International Insolvency Institute (the “III”). In addition, he routinely lectures and publishes both nationally and internationally on a variety of topics, including bankruptcy litigation and international insolvency issues. Since 2003, he has been a regular delegate and a presenter to UNCITRAL on bankruptcy and insolvency related issues. He is a past chair of the Atlanta Bar Association Bankruptcy Section, served on the board of directors for six years, and has been selected as a Super Lawyer in Georgia. He is also named as a leading insolvency/restructuring lawyer in the Guide to the World’s Leading Insolvency and Restructuring Lawyers.