‘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
The treatment of shareholders in the insolvency of companies is a current research project co-led by the Bank of Italy and the World Bank. Research areas are (1) Shareholders’ Liability for the Distress of the Company, (2) Shareholders’ Powers over the Management During Insolvency Proceedings, and (3) The Treatment of Shareholders in Reorganization Procedures. The initiative for this reseach was… Read More »2015-12-doc13 Shareholders and their position in insolvency
The numbers say that over 10,000 English limited companies (Ltd’s) operate in Germany. The company director is registered in the Companies register in England, but with a branch active in Germany, which is reistered in German company registers. On 10 December 2015 the Court of Justice of the European Union decided on the question whether the liability of the director… Read More »2015-12-doc11 CJEU 10 December 2015, C-594/14 (Kornhaas v Dithmar)