On 21 December 2015 the Supreme Court of South Africa had to deal with an insolvency case parts of which already had been heard and decided about by courts in the USA and later in Ireland. See Lagoon Beach Hotel v Lehane (235/2015) [2015] ZASCA 210. The case involves the (once very wealthy) Irish business man Sean Dunne. In 2013,… Read More »2016-04-doc1 Supreme Court of South Africa – Lagoon case
With the shifting of focus to an earlier, out-of-court model for restructuring financial distressed companies, new actors will enter the restructuring and Insolvency market. Will there be room for insolvency mediators, and if so, in what way this profession should be organised? See for some of my thoughts INSOL Europe’s newsletter eurofenix, Spring 2016. eurofenix-63-mediation-002.pdf
‘UK EU exit would be global economy shock’, according to G20 leaders last weekend. The mood in the UK is rather split, but indeed what if the UK were to exit after the referendum of June 2016? And what would it mean for the restructuring and insolvency of natural persons and companies? The applicable instrument for its release is Article… Read More »2016-03-doc2 Brexit & European Insolvency Law
Today, March 1, 2016, Global Restructuring Review (GRR) went live, see globalrestructuringreview.com. It’s a periodical with Cross-border restructuring and insolvency news, features and events. This first issue also contains an interview with me: Bob Wessels: professor emeritus of International Insolvency Law at Leiden University and expert counsel to the European Commission Global Restructuring Review – 01 March 2016 Bob Wessels:… Read More »2016-03-doc1 Interview in first issue of GRR
Wessels International Insolvency Law Part I. Global Perspectives on Cross-Border Insolvency Law, 4th ed., 2015, is one of my latest books. Take a peek view at its contents in this flyer: folder-insolvencylaw-a4.pdf For ordering it (for non-Dutch persons) send an e-mail to marc.ten.buuren@wolterskluwer.com, and mention Company name and contact person, Billing and shipping address, Number of copies requested, If applicable: payment reference, and VAT number. For those… Read More »2016-02-doc11 4th ed. Int’l Insolvency Law Part I
The Nordic-Baltic Insolvency Network was established in 2010. The network contains five EU Member States (Sweden, Finland, Estonia, Latvia and Lithuania) and two other countries: Norway and Denmark. The main reason for its establishment was the financial crisis that the Baltic States had endured. It revealed that there were considerable differences not only between these countries’ insolvency systems, but also… Read More »2016-02-doc6 Nordic-Baltic Recommendations on Insolvency Law
On 13 January 2016, in Brussels, I presented my latest book: Wessels International Insolvency Law Part I. Global Perspectives on Cross-Border Insolvency Law, 4th ed., 2015, to professor Michael Veder (left hand side), Chairman of the Netherlands Association of Comparative and International Insolvency Law. Wessels International Insolvency Law is known as an authoritive and practical guide on the law of… Read More »2016-01-doc6 Wessels International Insolvency Law Part I
‘Harmonization is a euphemism for forcing commercially less important countries to adopt the remedies and priorities of the commercially more important countries’, asserts Lynn LoPucki in one of his challenging publications (see Lynn M. LoPucki, Global and Out of Control?, in: 79 American Bankruptcy Law Journal 2005, 79ff.). Although the author claims ‘global’ application for his quote, he clearly misunderstands… Read More »2016-01-doc5 To harmonise or not to harmonise insolvency laws in the EU: is that a question?
V&D gift cards, will its holders be left in the cold? On the last day of 2015 the District court of Amsterdam opened bankruptcy proceedings (‘faillissement’) against the Dutch retailer Vroom & Dreesmann (V&D). V&D is the largest and most historic Dutch department store chain, which entered the Dutch market in 1887 with a store in Amsterdam. It now has… Read More »2016-01-doc2 Gift cards and insolvent retailers
Courts and Computers, A Cosy Couple? Already on 26 June 2016 Article 86 of the EU Insolvency Regulation (EIR Recast), on information on insolvency laws, will apply. The EIR Recast itself will enter into force 26 June 2017. Article 86 (‘Information on national and Union insolvency law’) however is a forerunner. It will apply from 26 June 2016. What does… Read More »2015-12-14 Art. 86 EIR Recast will apply per 26 June 2016