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Welcome /  Blog /  2015-12-doc12 New: 4th ed. of International Insolvency Law. Part I

2015-12-doc12 New: 4th ed. of International Insolvency Law. Part I

Wessels International Insolvency Law Part I. Global Perspectives on Cross-Border Insolvency Law, 4th ed., 2015, is known as an authoritive and practical guide on the law of international insolvency. It covers the huge and vast increasing body of legislative rules, case law, scholarly literature and other available sources. Part II will be International Insolvency Law Part II. European Insolvency Law, foreseen for publication in 2017. Both will form the fourth edition of its original version. On the 3rd edition of 2012: A ‘magnificent book’ (Hon. Judge Bufford, Los Angeles), a ‘marvellous work’ (prof. Jessica Schmidt, University of Bayreuth), written  by one of the best specialists in the world (François Mélin, Vice-président du Tribunal de grande instance d’Amiens). This is a work that serious insolvency academics, judges or practitioners cannot afford to do without (prof. Paul Omar, Nottingham Law School and prof. Heinz Vallender, University of Cologne: ‘Am “Wessels” kommt niemand vorbei’). UPDATED International Insolvency Law Part I contains three themes. Chapter I starts with a detailed account of topics which nearly always emerge from cross-border insolvency cases and continues the debate on principles and new dogmatic and pragmatic approaches to issues and disputes on international insolvency law, including several remarkable court decisions. Regional conventions (in Latin-America, the Nordic European countries, the OHADA Treaty in Central Africa) have been explained and several of the ‘soft law’ sources have been described. These include best practice rules from organizations such as INSOL International and UNCITRAL’s Legislative Guide on Insolvency Law, including its recommendations for the treatment of corporate groups, and the use of Protocols or cross-border insolvency agreements. In Chapter II the status of international insolvency law in the Netherlands has been updated. Despite the EU Insolvency Regulation being applicable to intra-community cases since May 2002, Articles 203-205 of the Dutch Bankruptcy Act remain relevant for cross-border cases with third-(non-EU)countries as will the general application by courts in the Netherlands of private international law, as demonstrated in cross-border legal disputes related to the insolvent Russian corporate giant Yukos Oil Company having shares in a company, incorporated in the Netherlands, which holds large assets in several countries. In Chapter III in this fourth edition the main topic is the UNCITRAL Model Law on Cross-Border Insolvency of 1997 and the considerations to weigh when a State is in the process of enacting it. The analyses of the Model Law has been broadened and deepened with a short analysis of some fifty USA and UK cases, such as ABC Learning Centres, Barnet, Cozumel Caribe, Fairfield Sentry, Kekhman, Kemsley, Lehman Brothers, Madoff, New Cap, Nortel Networks, Quimonda, Rubin, Octaviar, Saad, Singularis and Suntech Power, and a selection of the ever growing literature, mainly from sources in the USA and the UK. The text of Wessels International Insolvency Law Part I, 4th ed., 2015, is completed by a refreshed Bibliography and a set set of comprehensive appendices containing the most recent texts of hard and soft law. The law is stated as per August 1, 2015. Obviously, International Insolvency law Part II European Insolvency Law provides an extensive treatment of the Regulation (EU) 2015/848 of the European Parliament and the Council of 20 May 2015 on insolvency proceedings (recast), which shall enter into force 26 June 2017. To order, go to An English flyer will be available soon.