Insolvency Law Research Papers - Academia.edu (original) (raw)

2025, Regional Law Review

In September 2024, the United Nations published a report titled "Governing AI for Human-
ity," which addressed the international governance of artificial intelligence. In March 2024,
the European Union adopted the Artificial Intelligence Act, which establishes uniform
legal rules governing the use of artificial intelligence systems. Governments and companies
throughout the world are continuously adopting strategies, laws, and guidelines, resulting
in a disparate array of global approaches to AI. Amid this global regulatory diversity, the
role of AI in company law raises pressing questions about its governance within corporate
structures. This article will give an overview of international and EU standards regarding
liability issues that arise through the use of artificial intelligence in company law with the aim
of identifying potential opportunities and challenges that could be anticipated in Bosnia and
Herzegovina. Are robot-directors and AI board members the future of modern companies?
If so, how should their liability be treated? This paper analyses several possibilities for AI
liability adding to the discussion of a two-fold problem that will emerge in company law: who
is liable if AI is used as a tool to help management and board members in decision making,
and second, can AI participate in decision-making without human intervention. This paper
argues that AI liability should be approached through an extension of traditional addressees
of liability' under the existing doctrines such as duty of care for directors' liability, and the
piercing of the veil doctrine for shareholder liability. It establishes suggestions regarding
which situations the veil of the corporate entity should be lifted and when shareholders' lia-
bility should be extended. It suggests that the focus on AI should be on whether the human
actors in the company acted reasonably and with the duty of care in using the technology.

2025, DIRITTO DEL COMMERCIO INTERNAZIONALE

SOMMARIO: 1. Introduzione al perché del confronto tra il Codice della crisi dell'impresa e il cd. sistema Uncitral.-2. La trasposizione "forzosa" del sistema Uncitral nel Codice della crisi attraverso il diritto UE: profili generali.-3. Qualche precisazione sui diversi approcci della MLCBI, del diritto dell'Unione in materia di insolvenza e del Codice della crisi.-4. Principali linee guida del sistema Uncitral.-5. C'è una linea di continuità tra il sistema Uncitral, il Regolamento n. 848/2015/UE e la Direttiva n. 1023/2019/UE?-6. Cenni all'attuazione del sistema Uncitral in altri ordinamenti non-UE.-7. L'approccio tendenzialmente autarchico del Codice alle crisi che coinvolgano Stati non appartenenti all'Unione Europea ed il principio di delega rimasto esplicitamente inattuato.-8. Spunti per una ricostruzione "in chiave Uncitral" della disciplina contenuta nel Codice alle crisi.-9. Previsioni della MLCBI e Recommendations cadute nel vuoto: qualche ausilio offerto dal diritto UE.

2025, Revista Pedagogía Universitaria y Didáctica del Derecho

Este artículo revela cómo los conocimientos de carácter financiero adquiridos por los estudiantes en la carrera de Derecho no son suficientes para dotarlos de competencias a nivel usuario en este ámbito. En la medida en que la educación financiera se ha mostrado como una herramienta útil y eficaz para mejorar el comportamiento de los consumidores, se propone la implementación de un módulo de formación financiera dentro de los contenidos impartidos en la Licenciatura de Derecho.

2025, O Uso da Mediação na Recuperação Judicial: Estudo de um Caso

Quando o Judiciário já não basta e o conflito ameaça afundar ainda mais as empresas em crise, sobretudo em um cenário de instabilidade econômica, é hora de perguntar: a mediação pode ser o caminho para uma recuperação judicial mais célere e eficiente? Neste livro, a autora analisa, a partir de um estudo de caso complexo, como a mediação pode transformar a lógica da recuperação judicial. Em vez de litígios prolongados e soluções impostas, acordos construídos e relações restabelecidas por meio do diálogo estruturado. Com base em fundamentos jurídicos e observações práticas, a obra revela as potencialidades e os desafios da mediação quando inserida nessa seara, convidando o leitor a repensar os limites do processo tradicional e explorar esse mecanismo consensual e inovador de resolução de conflitos. Ideal para profissionais do Direito, empresários, administradores judiciais, estudantes e todos aqueles que buscam novas formas de enfrentar a crise empresarial com inteligência e estratégia. Mais que uma leitura técnica – uma proposta transformadora

2025

Avram, Aurica - Procedura insolventei Partea generala

2025, International Journal of Research Publication and Reviews

The Insolvency and Bankruptcy Code (IBC), introduced in 2016, marked a transformative shift in India's insolvency resolution framework. Designed to replace the fragmented and inefficient pre-existing laws, the IBC aims to facilitate a structured, time-bound process for resolving distressed assets while fostering financial stability and improving credit availability. This paper explores the historical evolution of insolvency regulations in India, the significant impact of the IBC on businesses and creditors, and the persistent challenges that hinder its effectiveness. While the implementation of the IBC has led to notable improvements-such as minimizing delays in resolution, enhancing recovery rates for creditors, and increasing investor confidence-certain structural and operational inefficiencies remain. Industry-specific insolvency challenges, the absence of a robust cross-border insolvency mechanism, and complexities in group insolvency proceedings continue to pose hurdles to its success. Through an in-depth analysis, this research highlights key areas that require reform and provides strategic recommendations to strengthen the existing framework. By addressing these gaps, the IBC can evolve into a more resilient and efficient system, further contributing to India's economic growth and financial discipline.

2025, indret.com

Contrary to both Preliminary Convention Drafts on insolvency proceedings, the Insolvency Regulation does not set out a specific rule on vis attractiva concursus. This silence is surprising given the fact that the ECJ had already held in... more

2025, The Journal of Business Law

The Consolidated text of the Spanish Insolvency Act (hereinafter, the Insolvency Act) has been amended to incorporate into Spanish law Directive (EU) 2019/1023 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. In addition to incorporating the guidelines of the Directive in the pre-insolvency stage, Law 16/2022 amending the Insolvency Act introduces a rule not provided for in the aforementioned Directive: the new Art. 435.3 of the Insolvency Act provides that agreements between creditors remain valid including when the common debtor goes into insolvency proceedings. Moreover, it applies indistinctly whether the agreements between creditors have been adopted within procedures concerning restructuring or outside of these.

2025, International Journal of Law and Clinical Legal Education (IJOLACLE)

A company is a corporate entity recognised by law and clothed with legal personality to do all that is within its constitution and objects, including to borrow money. However, a company can become insolvent and unable to pay its debts due to several reasons. Where this occurs, there are several routes in the statute that such company in trauma can explore. This routes ranges from corporate rescue mechanisms to options that see to the dissolution of the company. Prior to Companies and Allied Matters Act (CAMA 2020), most companies in trauma ended up being wound up or dissolved due to the law that did not encourage the objective of corporate rescue. With CAMA 2020 came improvements to certain aspects of company regulations, particularly that of corporate insolvency. It came with the introduction of the corporate rescue culture, one of which includes the Company Voluntary Arrangements (CVA). CVA as a rescue mechanism is a debtor in possession procedure that ensures the debtor is left in control of its affairs by allowing its directors to retain control of the company while it continues its business as a going concern under the supervision of an insolvency practitioner. The provision of CAMA 2020 on CVA is like that of the United Kingdom (UK) Insolvency Act. This paper examines CVA as a mechanism of corporate rescue. It further comparatively examines the legislations in Nigeria and UK on CVA while highlighting the similarities. This paper then posits that although the embodiment of the rescue culture in CAMA 2020, particularly CVA in Chapter 17 of CAMA 2020, is laudable and a lofty achievement; the lack of provision for moratorium in the Act when CVA is put in motion has made the provision of CAMA 2020 ambivalent, confusing and capable of different conjectures such that it can be used by secured and preferential creditors to defeat the rescue objective while also putting the insolvency practitioner (the nominee) in a precarious position. This paper therefore calls for an urgent review of the Act to address this anomaly.

2025

Porto, setembro de 2017 No presente estudo é analisado o regime jurídico do Processo Especial de Revitalização (PER) aplicado às sociedades comerciais, fazendo-se uma breve referência a algumas das medidas que poderão constar no plano de recuperação, sem descurar a análise do regime das garantias concedidas aos credores que financiem a atividade do devedor, no âmbito do PER. Tendo em conta que, o regime legal do PER é pouco claro e omisso em relação a alguns aspetos importantes da sua aplicabilidade à prática judiciária, neste estudo é feita uma reflexão crítica sobre o mesmo, dando nota das diferentes posições doutrinárias e jurisprudenciais existentes e apresentando possíveis soluções para os problemas levantados. Com este estudo é possível concluir que o PER é encarado pelos seus intervenientes como uma alternativa ao processo de insolvência, quando o pensamento legislativo que esteve na base da redação do seu regime jurídico previa a concessão de um instrumento que permitisse a recuperação do devedor que se encontra em situação de pré-insolvência e, não, um processo a ser aplicado quando o devedor está já insolvente. Por isso, o regime jurídico do PER não se pode considerar um trabalho concluído, requerendo aperfeiçoamentos em relação a alguns aspetos, aos quais fazemos referência ao longo da nossa exposição.

2025, LexisNexis Australia

As fiduciaries, Australian company directors will be acting in best interests of their company and for a proper purpose where they use their management powers to maximize profits for its shareholders, considering all of the interests of the corporation, including its continued existence and its interest in pursuing lawful activity. However, upholding these duties was negatively impacted by the apprehension of insolvency under the Australian insolvent trading laws as they were prior to the 2017 legislative reforms. The fear of associated personal liability that directors could face disincentivised them from taking appropriate business risks outside of formal insolvency situations. Following the temporary support measures implemented by the Australian Government in March 2020 to assist companies in financial distress due to the economic impact of the COVID-19 pandemic, additional legislative reforms were introduced to assist small company businesses experiencing financial distress in January 2021. Whilst these new reforms are welcome, this Article presents suggestions for further reform in order to provide additional support for all Australian company directors so that they can confidently fulfill their fiduciary duties to their companies, and to broaden much needed entrepreneurialism and innovation approaches for all Australian company businesses.

2025

Een blik in de (nabije) toekomst. Op 1 januari 2016 krijgen de kleine vennootschappen er een nòg kleiner broertje bij! De Belgische familie zal de nieuwste spruit verwelkomen in artikel 15 van het wetboek vennootschappen. Op het... more

2025

Corporate insolvency law reform in the mid 80's in the United Kingdom and the early 90's in Canada and Australia resulted in the introduction of new statutory regimes directed specifically towards facilitating the rescue of financially troubled companies or parts of their businesses. The Administration Order Procedure and Company Voluntary Arrangements in the U.K., Business Proposals in Canada and Company Voluntary Arrangements in Australia joined the ranks of Receivership under a Floating Charge, and the little used Statutory Compositions and Schemes of Arrangement. Thus, today it is usual to attempt to rescue or rehabilitate a company prior to subjecting it to a terminal insolvency regime. Since the procedures, in particular the new, seek common goals there is a great degree of similarity amongst them. This thesis begins by tracing the history of the law of corporate rescues and how the various aspects of a rescue developed from the mid nineteenth Century to the present day. It identifies several common aspects of a corporate rescue. Every aspect is conmion to at least two regimes. It then examines, in detail, the manner in which each aspect is dealt with under each procedure. This detailed analysis discloses important differences which, it is submitted, affect the relative success or failure of the procedures. It is examined whether or not each rescue regime addresses every aspect of a rescue efficiently and whether any procedure could benefit from the experiences of the others. In conclusion it is determined whether, in the light of available empirical evidence on the use these rescue procedures in Australia, Canada and England, each regime eventually achieves or has the potential to achieve the objective of a corporate rescue. For the meaning of "composition" see infra.

2025, Quaderni di ricerca giuridica

The issue No 104 of the Quaderni di ricerca giuridica examines how EU Member States have implemented the requirements set in Article 3 of the BRRD regarding the institutional framework of the national resolution authorities, ten years... more

2025, Revista E Mercatoria

El presente artículo tiene como finalidad abordar asuntos que consideramos de importante valía, respecto del funcionamiento de los establecimientos de comercio y, específicamente, en lo atinente al estado de cosas normativo y fáctico actual, en punto de regulación jurídica y forma de ejecución de los poderes, función y actividad de policía administrativa desde la doble óptica del derecho administrativo y comercial.

2025

Abstract
A more established, time-bound, as well as transparent approach for companies in financial crisis was ensured by the Insolvency and Bankruptcy Code (IBC), 2016, which was implemented to expedite the insolvency and bankruptcy resolution process in India. The preservation of workers’ and employees’ rights, particularly their claims for unpaid pay, benefits, and compensation, is one of the most important issues throughout the bankruptcy process. This paper explores the IBC’s provisions pertaining to workers’ and employees’ benefits, their priority ranking, and the tactics used to protect their interests.
Key Words: Employees, Workmen, Benefits, IBC

2025

La causal de la disolución de la sociedad por pérdida del capital social y la convergencia en este aspecto con la legislación concursal y societaria.-Una apreciación comparatistas entre las legislaciones: colombiana, peruana, uruguaya, argentina y española" 1 Directores: Efraín Hugo Richard (Argentina), German Monroy Alarcon (Colombia), Esteban Carbonell O´Brien (Perú) e Israel Creimer (Uruguay) Investigadores participantes: Motivación: Nos unimos a reflexionar sobre las crisis de sociedades entendiendo que éstas constituyen un instrumento maravilloso para el desarrollo personal proyectado al de una comunidad, generando empleo y riqueza distribuible, y que su crisis debiera ser avizorada tempranamente y afrontada de la misma forma. En esa idea advertimos que la función de garantía del capital social tenía consideración en las cinco legislaciones como causal de disolución, con diversas proyecciones en el campo concursal, por lo que convergimos en esta investigación sobre congrue...

2025

Evidenza pubblica e accesso difensivo tra Codice dei contratti pubblici e disciplina dell'amministrazione straordinaria delle grandi imprese in stato di insolvenza * Sommario: 1. Posizione del tema di indagine. -2. Rapporti tra disciplina dell'accesso (digitalizzato) nei contratti pubblici… -3. … e procedure di vendita e accesso (documentale) nell'amministrazione straordinaria, alla luce dei principi generali del diritto amministrativo. -4. Rapporti tra tutela della riservatezza e accesso ai documenti di gara per finalità difensive, in materia di contratti pubblici. -5. Rapporti tra tutela della riservatezza economica e dei segreti industriali e accesso ai documenti di gara per finalità difensive, nella disciplina dell'amministrazione straordinaria. -6. Conclusioni. * Le opinioni di seguito espresse sono personali, frutto di una elaborazione scientifica, e non coinvolgono né chiamano in ausa, in alcun modo, neanche indirettamente, tanto l'Istituzione presso la quale l'Autore presta la propria attività professionale, quanto l'Organo della procedura di amministrazione straordinaria del quale è membro.

2025

Διαδικαστικές προϋποθέσεις δίκης/Υποκειμενικά σύνθετες δίκες/Άσκηση αγωγής και συνέπειές της/Προπαρασκευή της συζήτησης και διεξαγωγή της/Άμυνα κατά ισχυρισμών αντιδίκου/Απόδειξη/Περάτωση και κατάργηση της δίκης

2025, Julgar Online

O Acórdão e o objecto do comentário. No Acórdão Uniformizador de Jurisprudência n.º 4/2014, o Supremo Tribunal de Justiça (STJ) debruça-se sobre a posição jurídica do beneficiário de uma promessa de transmissão (meramente obrigacional) da propriedade de uma fracção autónoma de um prédio urbano em regime de propriedade horizontal, com tradição da coisa, em face da declaração de insolvência do promitentevendedor. Concretamente, pronunciou-se o Tribunal superior sobre a questão de saber, perante a decisão do administrador de insolvência de não cumprir um contrato-promessa a que o insolvente se havia vinculado, com eficácia obrigacional e tendo havido tradição da coisa, qual a pretensão indemnizatória que cabe ao beneficiário da promessa de alienação (i) e, por outro lado, se beneficia de direito de retenção como garantia desse crédito (ii). Vejamos, esquematicamente, o caso que motivou o aresto: A celebra contrato-promessa de compra e venda com B, nos termos do qual se vinculou a vender uma fracção autónoma de prédio urbano; A recebeu de B certa quantia a título de sinal e entregou o imóvel objecto do contrato. Mais tarde, em face da insolvência do promitente-vendedor (A), o administrador de insolvência decidiu não cumprir o contrato-promessa (isto é, não celebrar o contrato prometido), importando então saber que direito tem B e como é graduado no processo de insolvência. Comentário ao Acórdão Uniformizador de Jurisprudência n.º 4/2014 Margarida Costa Andrade e Afonso Patrão Online, setembro de 2016 | 2 A intervenção do Supremo Tribunal foi suscitada depois de uma decisão em primeira instância que reconheceu ao beneficiário da promessa o direito ao valor do sinal entregue, garantido especialmente por direito de retenção sobre a coisa objecto do contrato prometido. Neste caso, nos termos do n.º 2 do art. 759.º do Código Civil (CC), a sua garantia preferirá sobre hipotecas sobre a mesma coisa, mesmo que anteriores. Tal sentença foi objecto de recurso para o Tribunal da Relação. Este concluiu que, no âmbito da insolvência, a tutela do beneficiário da promessa de transmissão decorre das normas dos artigos 102.º, 104.º/5 e 106.º/2 do Código da Insolvência e da Recuperação de Empresas (CIRE) e não pelo instituto da devolução do sinal em dobro do art. 442.º CC; em consequência, não gozaria tal crédito de direito de retenção, porquanto este está associado à indemnização do art. 442.º CC, nos termos da alínea f) do n.º 1 do art. 755.º CC. Nessa medida, graduou como crédito comum o direito do promissário de alienação, a ser pago depois de satisfeitas as hipotecas que sobre a coisa incidissem. Ora, uniformizando a jurisprudência, o Supremo Tribunal de Justiça veio a dar guarida à posição do promissário, atribuindo-lhe o direito ao sinal em dobro nos termos da lei civil (art. 442.º CC), crédito especialmente garantido com direito de retenção (art. 755.º/1/f) CC). Indo mais longe, o douto Acórdão fixou uma interpretação restritiva da atribuição do direito de retenção, determinando que tal garantia real apenas é outorgada ao promissário de alienação que seja consumidor, recusando-se tal caução a todos os demais. A nossa análise à erudita decisão do Supremo Tribunal de Justiça cingir-seá, assim, àquelas duas questões supra indicadas. Em primeiro lugar, cuidaremos de saber, em face do direito positivo, qual a pretensão indemnizatória que cabe ao promissário de alienação quando haja obtido a tradição da coisa objecto do contrato; em concreto, importa identificar se é titular do direito ao dobro do sinal (nos termos do art. 442.º CC) ou, pelo contrário, a uma indemnização calculada nos termos do n.º 2 do art. 106.º CIRE. Em segundo lugar, importa saber se, quando o beneficiário de promessa de alienação que tenha obtido a entrega da Comentário ao Acórdão Uniformizador de Jurisprudência n.º 4/2014 Margarida Costa Andrade e Afonso Patrão Online, setembro de 2016 | 3 coisa seja titular de um crédito indemnizatório pelo incumprimento do contratopromessa, a atribuição de tal garantia está circunscrita a consumidores. II. O direito atribuído ao beneficiário de promessa de transmissão de prédio no caso de insolvência do promitente vendedor. Aquando da declaração de insolvência do promitente-vendedor, o destino do contrato-promessa é objecto de regulamentação do CIRE. Assim, a lei falimentar prescreve um princípio geral para os negócios em curso (art. 102.º CIRE), nos termos do qual estes ficam suspensos, podendo o administrador de insolvência optar por cumprir ou recusar o adimplemento 1 . Esta regra prevê ainda um regime indemnizatório da contraparte, quando o administrador de insolvência decida não cumprir tais contratos, e é complementada com regras especiais no que tange a certos tipos contratuais (entre os quais, o contratopromessa de compra e venda -art. 106.º), assumindo as normas deste capítulo do CIRE natureza imperativa (art. 119.º CIRE) e não podendo ser derrogadas por condições indemnizatórias fixadas pelas partes. No que ao contrato-promessa diz respeito, ao princípio geral de que o administrador de insolvência pode decidir executar ou recusar o cumprimento

2025

Fevereiro de 2010 1. Introdução 1. Com o Decreto-Lei n.º 105/2004, de 8 de Maio, foi introduzida a figura dos acordos de garantia financeira no ordenamento jurídico português, em cumprimento da obrigação de transposição da Directiva n.º 2002/47/CE, do Parlamento Europeu e do Conselho, de 6 de Junho, relativa aos acordos de garantia financeira (doravante, "a Directiva"). E duas modalidades daqueles acordos foram alvo da particular atenção do legislador português: a alienação fiduciária em garantia e o penhor financeiro. Dizer que a alienação fiduciária em garantia constitui uma completa inovação entre nós não será motivo, cremos, para grande contestação. Mas, de uma determinada perspectiva, o mesmo pode dizer-se do penhor financeiro: apesar de ser uma garantia mobiliária, e, portanto, semelhante ao penhor de coisas e ao penhor de direitos desde há muito consagrados entre nós, o seu regime jurídico permite que se legitime o credor pignoratício a dispor da coisa onerada, assim como a tornar-se dela proprietário uma vez verificado o incumprimento da obrigação garantida. Desta forma, o penhor financeiro apresenta-se como garantia de fronteiras alargadas, assumindo três modalidades distintas: o penhor financeiro simples, o penhor financeiro com direito de disposição e o penhor financeiro com pacto comissório. 2. A Directiva n.º 2002/47/CE participa de um conjunto de normas de natureza internacional cuja preocupação é reagir contra a incerteza do destino das garantias financeiras transnacionais 1 , nomeadamente por conta das dificuldades criadas pela localização dos instrumentos financeiros 2 e das diversificadas soluções nacionais sobre garantias mobiliárias. Na verdade, a dinâmica dos mercados mobiliários impõe cada vez mais uma harmonização da disciplina das garantias: na ausência de um quadro jurídico uniforme, dificulta-se a conclusão de negócios e, assim, a eficiência do mercado, já prejudicada, particularmente em termos de equidade, pelas assimetrias informativas

2025

Obchodni) korporace a smlouvy, resp. obligace jsou si v mnohem blizke a rozdily mezi nimi se mnohdy smazavaji – dnes umocněno mj. i novým pojetim věci v pravnim smyslu. Mnohostrannost korporace a otevřenost dalsich participujicich na ni nas nuti k diskusi nejen o ucelu a podstatě korporace, ale take o ochraně spolecniků, a ne vždy jen těch minoritnich. Korporace sleduje dilci ucel a pise se, že ty obchodni pak sleduji ucel podnikatelský, což některe vede k zavěru, že shareholder primacy nefunguje a je třeba ho modifikovat. Diskutuji se proto anglický enlightened shareholder model (cl. v 172 Companies Act 2006), productive coalition model, stewardship model (UK Stewardship Code 2010), corporate social (and enviromental) responsibility model a v neposledni řadě samozřejmě take stakeholder model.

2025, Türkiye adalet akademisi dergisi

Türk usul hukukunda geçici hukuki koruma kavramı, 6100 sayılı Hukuk Muhakemeleri Kanunu (HMK) ile kanuna girmiştir. Geçici hukuki himaye kavramı, HMK'nun 10. kısmında "Geçici Hukuki Korumalar" başlığıyla Türk Hukuk mevzuatında yer bulmuştur. HMK'da bu başlık altında ihtiyati tedbir (HMK m. 389-399) ve delil tespiti (HMK m. 400-405) kurumları düzenlenmiş, "Diğer geçici hukuki korumalar" başlıklı 406. maddeyle de ihtiyati tedbir ve delil tespiti dışında da geçici hukuki himaye tedbirleri olabileceğine işaret edilmiştir 2 . Geçici hukuki koruma, ihtiyati tedbir, ihtiyati haciz, delillerin tespiti gibi geçici hukuki korumaların çerçeve kavramı olarak kabul edilmektedir. 3 Geçici hukuki koruma kavramına kanunda yer verilmemiş olsa da Türk Hukuku'nda geçici hukuki koruma çeşitli şekillerde tanımlanmıştır 4 . Şöyle ki, Arslan, "HMK ile yapılan düzenlemelere göre, geçici hukuki koruma, karşı tarafın kötü niyetli davranışlarını önlemek, dava sonucunu güvence altına almak ve hak arama özgürlüğünün kullanılabilmesi (hayata geçirilmesi) için başvurulan hukuki ve zorunlu bir çare; dava sonunda gerçekleşecek olan asıl (kesin) hukuki korumanın güvencesi'' şeklinde, Yılmaz, "kesin hukuki koruma (dava) sonucunun ortaya çıkmasına kadar yargılama öncesinde veya sonrasında doğabilecek risklerden (tehlikelerden, sakıncalardan) davacı ve/ veya davalıyı korumak için yargı organlarınca verilen geniş ya da dar kapsamlı hukuki korumadır. Bunu sağlayacak somut araçlar ise, geçici hukuki koruma tedbirleridir'' şeklinde tanımlamıştır. 5 Bir diğer tanıma göre ise, "Gecikmesinde tehlike olan bir halin engellenmesi ya da durdurulması amacıyla, iddia edilen talebe hukuki dinlenilme hakkının ertelenmesi yolu açılarak prensip itibariyle yaklaşık ispat seviyesinde ispat ölçüsü ile yetinilerek geçici olarak yürürlük kazandıran, karşı tarafın menfaatlerini çeşitli usuli araçlarla dengeleyen, ivedi bir yargısal hukuki korumadır." 6 Dolayısıyla geçici hukuki koruma kavramının ihtiyati tedbir, ihtiyati haciz, delil tespiti gibi hukuki korumalar için bir üst başlık, hukukumuzdaki dağınık 2

2025, international journal of law, justice and jurisprudence

Basically, bankruptcy is a final resort for debtors who are in a state of insolvency where the debtor is
no longer able to carry out obligations to its creditors. However, bankruptcy often occurs for companies
that are still solvent, simply because they do not want to pay their debts because the bankruptcy law in
Indonesia does not adopt an insolvency test in bankruptcy applications when viewed from the principle
of business continuity. One of the paradigms of bankruptcy law is the value of justice so that the law
can provide its true purpose, namely providing benefits, usefulness and legal certainty. Please note that
the insolvency test is open access to financial reports that can be proven by financial due diligence on
bankruptcy applications. This research will discuss how important it is to apply the insolvency test in
bankruptcy applications when viewed from bankruptcy law in Indonesia, which is based on the
principles of legal certainty and business continuity. Researchers see many pros and cons or conflicts
between accounting and bankruptcy law on legal implementation if the insolvency test is implemented
in bankruptcy applications in Indonesia. The law should be relied upon to fulfill the value of justice for
debtors and creditors proportionally, but in this case there is a comparison between bankruptcy law and
the insolvency test.

2025, De Jure

Repealed sections of the Companies Act 645 1973-Wet in soverre dit betrekking het op die likwidasie van insolvente maatskappye, selfs waar hierdie bepalings nie binne die grense van hoofstuk 14 vervat is nie, steeds aangewend mag word in... more

2025

'n Heroorweging van die lot van die vyf dwase maagde: Behoort die onversekerde skuldeiser 'n aanspraak op die opbrengs van saaklike sekerheid te geniet? In hierdie artikel ondersoek die outeurs geselekteerde aspekte wat betrekking het op die posisie van onversekerde skuldeisers wat eise teen 'n insolvente boedel instel. Dit word oor die algemeen aanvaar dat sodanige klas van skuldeisers normaalweg min, indien enigsins, betaling by wyse van 'n dividend ontvang. Daarteenoor staan die versekerde skuldeiser en die statutêre voorkeurskuldeiser in 'n veel gunstiger posisie. Dit is vir die ekonomie en die gemeenskap in die algemeen van uiterste belang dat skuldeisers se regte gerespekteer word, maar die vraag het tog al ontstaan of sekere onversekerde skuldeisers onder bepaalde omstandighede 'n aanspraak op minstens 'n deel van die opbrengs van sekuriteite behoort te hê. Daar word spesifiek verwys na dié skuldeisers wat onvrywilliglik skuldeisers word en dus nie oor dieselfde gunstige onderhandelingsmoontlikhede beskik as 'n skuldeiser wat doelbewus kontrakteer en dus meer voordelige terme en sekuriteit kan beding nie. Die aspek is as 'n beleidsoorweging in ander regstelsels ondersoek en ook al in beperkte gevalle geïmplementeer. In Suid-Afrika het artikel 135 van die Maatskappywet van 2008 ook 'n super-voorkeur op die sogenaamde na-aanvang finansiering ten gunste van, onder andere, sekere werknemerseise geskep -'n voorkeur wat selfs bo gespesifiseerde versekerde skuld sal rangeer. Die artikel is nietemin bloot verkennend van aard maar die outeurs meen dat die debat as sulks nie nutteloos is nie en straks verder ondersoek behoort te word.

2025

Presentamos este anuario concursal mexicano que contiene una recopilación y análisis de las resoluciones judiciales más relevantes del año 2023 en materia concursal dictadas por los tribunales de la federación como tribunales de última instancia. Cada resolución citada viene con un hipervínculo para acceder a la versión pública. La versión electrónica de este anuario puede ser descargada gratuitamente en .

2025, Proteção Jurídica do Trabalhador Ativo

Este artigo analisa a lacuna na legislação angolana relativa á proteção de trabalhadores previamente empregados que são contratados por nova entidade e despedidos poucos meses apos a contratação. Embora a Lei Geral do Trabalho nº 12/23 proteja os direitos dos trabalhadores em geral, não distingue entre desempregados e empregados no momento da contratação. A pesquisa propõe a criação de uma compensação adicional obrigatória para trabalhadores recrutados de vínculos ativos, como forma de mitigar os impactos sociais e laborais decorrentes de despedimentos precoces sem justa causa, A proposta visa reforçar a responsabilidade social das empresas e garantir maior estabilidade no mercado de trabalho.

2025

This paper challenges the conventional Eurocentric narrative that international law originated exclusively in Europe around the 1600s, driven by Christianity and conquest, and that African engagement commenced only with the formation of the United Nations. The article refutes these claims by engaging with both contributionist and critical legal scholarship, alongside a re-examination of European writings on the subject. Contributionist perspectives, exemplified by scholars like Elias and Brown, highlight pre-colonial African agency through practices such as treaty-making (e.g., Carthage) and shared "international law in-action," demonstrating Africa's role as an equal participant and innovator of international legal norms. Critical theorists, including Umozurike and others, further argue that African states possessed sovereignty and engaged in external relations prior to colonization, and that international law was subsequently instrumentalized to legitimize colonial domination, European superiority, and the denial of African sovereignty. The paper concludes that international law possesses plural histories, asserting that African peoples were sovereign actors who observed norms governing international relations and contributed to international legal frameworks well before the establishment of the United Nations, thereby dismantling the established Eurocentric view.

2025

The enactment of the Insolvency and Bankruptcy Code (IBC), 2016 marked a transformative milestone in India's legal and financial framework for resolving corporate distress. Replacing the earlier fragmented regime, the IBC introduced time-bound mechanisms, empowered creditor control, and streamlined resolution processes through specialized tribunals and professional intermediaries. This paper evaluates the IBC's real-world performance by analyzing more than 50 insolvency cases between 2017 and 2024 across diverse sectors. It measures resolution timelines, recovery rates, and postresolution financial viability, while comparing India's framework with international insolvency regimes such as the U.S. Chapter 11 and UK's Administration model. Based on stakeholder performance and empirical insights, the study recommends policy reforms for enhancing systemic efficiency, judicial capacity, and economic impact.

2025

This timely book argues that long-term recovery and sustainability for municipalities in financial distress requires a modularly tailored decision-making process, incorporating environmental, social, and governance (ESG) considerations.

2025

O presente artigo tratou de explicar as principais mudanças, alterações advindas da Lei nº 14.112/2020, e sua repercussão no instituto da Recuperação Extrajudicial; discorreu em relação ao instituto do sistema de insolvência brasileiro, analisou-se os efeitos e características dessa Lei; destacou os pontos positivos e/ou negativos na atividade empresarial. A base deste estudo optou-se pelo embasamento metodológico advindo da pesquisa qualitativa e exploratória. Assim, visou atingir como proposta desta pesquisa o levantamento bibliográfico que é a análise e interpretação de dados. Dessa forma, como principal conclusão destacou que seja positiva ou negativa, a nova Lei de Recuperação Judicial, teve como marco histórico, a valoração do Instituto Recuperacional Extrajudicial das empresas, pois tendo em vista que se deu em decorrência da crise econômico-financeira ocasionada pela Pandemia da Covid-19.

2025, Štát a právo

Predkladaný článok sa zaoberá právnymi aspektami konkurzu vyhláseného na majetok banky ako finančnej inštitúcie v podmienkach Slovenskej republiky, ako aj osobitosťami tohto osobitného druhu insolvenčného konania v porovnaní s „klasickým“ konkurzom vyhláseným podľa druhej časti zákona č. 7/2005 Z. z. o konkurze a reštrukturalizácii v znení neskorších predpisov. Zároveň príspevok poukazuje aj na vybrané aspekty riešenia platobnej neschopnosti banky ako finančnej inštitúcie v právnych úpravách Českej republiky, Poľskej republiky a Maďarska.

2025, THE GRAVITAS REVIEW OF BUSINESS & PROPERTY LAW

Receivables have been conceived as debts. English law like in most jurisdictions allows security interests to be created over receivables. However, while there are four types under English law, only mortgages and charges are usually considered with receivables as both form the heartland of receivables financing. The introduction of receivables which is an expression attributed to the Americans was mainly due to the efforts of the nineteenth-century lawyers who responded to the problems posed by a growing economy by expanding the range of properties that could be used as security. This period saw the development of the floating charge form of security which may combine all the present and future assets of a business enterprise such as receivables and stock-in-trade. This paper focuses on the relationship that exists among debtor, creditor and the financier. The early part of this paper highlights the concept of receivables financing. It attempts to distinguish receivables from book debts and goes further to show how the English legal system deals with receivables financing. Further, the paper also discusses the legal possibility of receivables being assigned outrightly in the discharge of an existing indebtedness and the possibility of an assignment by way of security. Discussions on the international approach to the law of receivables financing is expanded. Attempts to ensure uniformity on the law regulating receivables financing internationally is also discussed. The paper contends that the need for uniformity is germane to the development of receivables financing as this will ensure flexibility in adoption by stakeholders.

2025, Business Money

There has been a fashion for accountants to advise directors to draw their remuneration as interim dividends. Yet where a company becomes insolvent, distributions are often perceived as possible “low hanging fruit” for liquidators hungry to swell the company’s depleted estate; the recent decision in AQA Bratani Ltd v Fujairah Oil & Gas highlights a possible defence.

2025

This study explores the integration of emerging technologies into financial systems and their impact on financial crimes. The research aims to identify and categorize financial crimes, cyber breaches, and the role of digital evidence in financial technologies using the PRISMA technique. A systematic review was conducted, analyzing literature from multiple databases such as PubMed, Scopus, Web of Science, and Google Scholar, focusing on studies published between June 2021 and June 2023. Key terms, including "technology-based financial crime," "cybercrime," "financial fraud," and others, were incorporated to refine the search. After rigorous screening, 175 studies (150 papers and 25 reports) were selected for analysis. The study highlights the growing concern over the use of emerging technologies in facilitating financial crimes such as money laundering, tax evasion, and cyber fraud. It also examines the evolving nature of financial crimes due to technological advancements and the challenges of investigating and prosecuting such crimes. Further research is recommended to investigate the socioeconomic factors influencing financial crime and to develop effective global collaboration mechanisms for addressing transnational financial offenses. This study contributes to a deeper understanding of how business entities and individuals handle financial misconduct in the digital era.

2025, Nederlands Tijdschrift voor Burgerlijk Recht

In dit artikel wordt ingegaan op de rechtseconomische analyse van bedingen die de mogelijkheid of toelaatbaarheid van cessie van geldvorderingen beperken (cessiebeperkingen). Kenmerkend voor de cessie is de schuldeisersvervanging. Een cessie kan vanwege deze schuldeisersvervanging nadelig zijn voor de schuldenaar, terwijl cessiebeperkingen nadelig kunnen zijn voor de schuldeiser/cedent en de cessionaris. Voor zover de betrokkenen deze belangentegenstelling door middel van vrijwillige bilaterale of trilaterale transacties kunnen oplossen, hoeft het recht niet in een uitkomst te voorzien. Het recht kan vrijwillige transacties bevorderen door rekening te houden met onder meer transactiekosten. Voor zover een vrijwillige transactie niet mogelijk is, is het vanuit rechtseconomisch oogpunt wenselijk dat het recht in een uitkomst voorziet die partijen zouden hebben bereikt als een vrijwillige transactie wel mogelijk zou zijn geweest. Aan de hand van deze uitgangspunten wordt een kader geformuleerd op basis waarvan rechtsregels met betrekking tot cessiebeperkingen kunnen worden beoordeeld. Naar Nederlands recht zijn goederen in uitgangspunt overdraagbaar. Dit geldt ook voor vorderingsrechten. 2 De overdraagbaarheid van vorderingsrechten is echter niet zonder problemen. Het vorderingsrecht is immers een bijzonder type goed: het is een aanspraak die tegen een ander, de schuldenaar, geldend moet worden gemaakt. Een overdracht van een vorderingsrecht (cessie) heeft dan ook schuldeisersvervanging tot gevolg. De schuldenaar heeft niet meer met de cedent, maar met de cessionaris te maken. 3 De schuldenaar kan er belang bij hebben om de toelaatbaarheid en/of mogelijkheid van een cessie contactueel te beperken. Naar positief recht kan dat op twee manieren. Ten eerste kunnen de schuldeiser en de schuldenaar een zuiver verbintenisrechtelijk werkend verbod tot cessie overeenkomen (hierna: "cessieverbod"), eventueel versterkt met een 1 Citeerwijze: R. Bloemink & L.T. Visscher, 'Cessiebeperkingen: markt en maatwerk', NTBR 2019/21, afl. 6. Renzo Bloemink is senior juridisch medewerker bij de Rechtbank Midden-Nederland. Louis Visscher is hoogleraar Legal Economic Analysis of Tort and Damages aan de Erasmus School of Law van de Erasmus Universiteit Rotterdam. 2 Artikel 3:83 lid 1 BW bepaalt dat eigendom, beperkte rechten en vorderingsrechten overdraagbaar zijn, tenzij de wet of de aard van het recht zich tegen overdracht verzet. 3 De partijen die een cessie beogen te doen plaatsvinden, zullen hierna cedent en cessionaris worden genoemd, ook als de cessie ongeldig is.

2025, Utrecht Law Review

Thanks are due to Mark Kawakami for invaluable research assistance. 1 For a concise overview of the challenges that the 'European project' faces: O. Cramme (ed.

2025

This paper presents a study of the criminal law on money laundering from comparative perspective with the combination of legal, historical, and sociological and criminology treatment. The benefit of income from criminal activities is considered very worrying problem but also a challenge, threat and danger to the security mechanisms (law enforcement agencies) in the Republic of Kosovo. To prevent, investigate and combat money laundering, there should be certainly set priorities for law enforcement agencies in the Republic of Kosovo. This approach allows for a more efficient fight against organized crime, in particular drug trafficking, human trafficking, cybercrime, terrorism and its financing, although partly these phenomena can be considered to relate to international pressure. At the same time, it is imposed on legislators to draft and adopt laws and regulations for implementation, to prevent and combat the phenomenon of money laundering, but without neglecting the drafting of the...

2025

The issue of responsibility in the transfer of workers' wages in a limited liability company that is bankrupt is an important issue in employment and bankruptcy law. When a limited liability company (PT) is declared bankrupt, there are significant challenges related to workers' rights, especially regarding unpaid wages. This study aims to analyze the legal responsibility in the transfer of workers' wage payment obligations from a bankrupt company to other parties, such as a third party or a replacement company. The methodology of this study uses a qualitative approach with case studies of several companies that are bankrupt. Data were collected through literature reviews, interviews with legal practitioners, and analysis of applicable laws and regulations. The findings of this study indicate that responsibility in the transfer of workers' wages depends not only on existing legal provisions, but also on the agreement between the parties involved in the bankruptcy process. The results of this study reveal that in practice, the transfer of responsibility for workers' wages often creates uncertainty for workers, especially in terms of certainty of payment. Recommendations provided include the need for clearer regulations regarding the transfer of wage obligations, as well as increasing legal protection for workers affected by company bankruptcy.

2025, Collective Redress Mechanisms in Consumer Protection in the European Union and South East Europe - Comparative Study

Collective redress entails several areas of consumer protection: consumer rights, consumer credit, package travel, unfair commercial practice, unfair terms in consumer contracts, sale of consumer goods and associated guarantees. Various... more

2025

Nel caso di contratto d'affitto d'azienda cui acceda un patto d'opzione per l'acquisto della medesima azienda, il regime applicabile all'opzione all'esito del fallimento del concedente è quello generale della sospensione ai sensi... more

2025, BRATISLAVA LAW REVIEW

Before 26 June 2017, there was no single universal regulation governing the treatment of insolvency cases concerning groups of companies or certain members of a group in the European Union. The Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings defines the effective execution of insolvency proceedings at the different group members involved as the general objective of the legal source. The aim of my paper is to review the detailed rules of group coordination proceedings, during which I focus on the request for opening group coordination proceedings, on the possibility of defining which court has jurisdiction, on the review of the opt-out and opt-in rights related to group coordination proceedings and on the presentation of the powers assigned to the coordinator.

2025, Athens Journal of Law

As a result of the transposition obligation in Article 34 of Directive (EU) 2019/1023 of the European Parliament and of the Council on restructuring frameworks and insolvency, Act LXIV of 2021 on restructuring and the amendment of certain acts with the purpose of legal harmonisation (hereinafter referred to as the Restructuring Act) was promulgated on 3 June 2021 and is applicable as of its effective date of 1 July 2022 for any legal persons struggling with financial difficulties but not yet insolvent. The creation of a restructuring model prescribed by the EU directive was implemented by the Hungarian legislator through the opening of a non-contentious court procedure ordered within the jurisdiction and exclusive competence of the Metropolitan Court of Budapest. The primary aim of this paper is to develop a complex and comprehensive picture of the restructuring procedure as placed within the system of insolvency and reorganisation procedures in Hungary. Firstly, the paper showcases the unified EU objectives set out by the directive within the system of European insolvency procedures, secondly, it describes the Hungarian procedural rules and the most important related legal institutions adopted to implement these objectives. Section 6 of the Restructuring Act sets out that the aim of restructuring is to adopt and implement a restructuring plan with some or all of the creditors and thus prevent the debtor’s future insolvency and ensure the debtor’s financial viability. For the purpose of reaching this objective, therefore, restructuring constitutes measures aiming at restoring the financial balance of the debtor, including changing the composition, the conditions or the structure of debtor’s assets and liabilities and any other part of its capital structure. Among these measures, the Restructuring Act lists the sale of the debtor’s property or part thereof, or the sale of any participation in the debtor as examples. The condition for restructuring is the likelihood of the company’s insolvency. The definition of the likelihood of insolven Directive (EU) on restructuring frameworks and insolvency, European insolvency procedures, insolvency and reorganisation procedures, restructuring plan, non-contentious court procedure
cy bears a central significance here: it constitutes the entrance point into the restructuring procedure. In addition to the definition of insolvency, Section 2(2) of the Restructuring and Insolvency Directive renders the interpretation of the probability of insolvency into Member State jurisdiction. Among the Explanatory notes the Restructuring Act defines the likelihood of becoming insolvent as a situation in which there are reasonable grounds for believing that the debtor will be unable to meet its outstanding payment obligations when they fall due, unless further measures are taken.

2025, Economic consultant

Introduction. The article is relevant due to the fact that enterprises face financial difficulties in crises, recessions, or other negative macroeconomic factors. The topic of a bankruptcy moratorium in case of economic instability is... more

2025, Academia

This paper critically assesses the effectiveness of the statutory derivative action under the Companies Act 2006 in protecting the interests of minority shareholders. It examines the evolution from common law derivative actions to the statutory framework, considering the procedural complexities, financial implications, and judicial discretion involved. By evaluating both the strengths and limitations of the statutory derivative action, the paper explores its ability to provide an effective remedy for minority shareholders facing misconduct by majority shareholders or directors. Additionally, it compares the statutory derivative action with other shareholder remedies, such as the unfair prejudice petition, and provides recommendations for enhancing its effectiveness.