Legal And Ethical Standards In Corporate Insolvency

"Recent financial crisis and the global financial impacts of the COVID-19 pandemic have brought renewed interest to the regulation and practice of corporate insolvency and restructuring. Modernisation of the insolvency profession, and the regulation of its practitioners, is a contemporary concern and recent years have seen significant reforms of insolvency law. The success of such reforms can be enhanced through a clear understanding of difficulties faced by the insolvency profession in achieving successful restructuring and insolvency outcomes and through the determination of effective solutions to those difficulties. However, there is limited empirical data to inform the day-to-day practice of insolvency, nor the difficulties experienced by insolvency practitioners in pursing insolvency and restructuring solutions. This book addresses this absence of data and understanding, examining the role and practice of corporate insolvency practitioners and exploring the challenges that they encounter. Offering an empirical study together with a comparative analysis of the experiences of practitioners around the world, this book facilitates a greater understanding of corporate insolvency practice, confronting a misunderstanding of, and under-confidence in, corporate insolvency practitioners, making it key reading for academics, practitioners and regulators working in the area of corporate insolvency"--

The fundamental ethical problem in bankruptcy is that insolvents have promised to pay their debts but can not keep their promise. The Ethics of Bankruptcy examines the morality of bankruptcy. The author compares and contrasts the Humean doctrine of promises as useful conventions with the Kantian view of autonomous agency constituting promissory obligations; he explores ethical concerns raised by forgiveness, utilitarianism and distributive justice and the moral aspects of insolvents' contractual, fiduciary, tortious and criminal liability. Finally, the author assesses recent bankruptcy law reforms. Bankruptcies severly hurt creditors and society. For the insolvents and their families the experience is painful and stigmatising, yet philosophers have paid little attention to the moral aspects of this violent social phenomenon. The Ethics of Bankruptcy is the first comprehensive study that employs the tools of ethics to examine the controversies surrounding insolvency, which makes valuable and sometimes controversial reading in a decade recovering from the Recession.

This text explores in depth the fundamental principles of corporate insolvency law and the many conceptual and analytical problems posed by the legislation and offers both theoretical and practical solutions.

This interdisciplinary examination of corporate insolvency law assesses recent reforms and anticipates new legislation.

Recent financial crisis and the global financial impacts of the COVID-19 pandemic have brought renewed interest to the regulation and practice of corporate insolvency and restructuring. Modernisation of the insolvency profession, and the regulation of its practitioners, is a contemporary concern and recent years have seen significant reforms of insolvency law. The success of such reforms can be enhanced through a clear understanding of difficulties faced by the insolvency profession in achieving successful restructuring and insolvency outcomes and through the determination of effective solutions to those difficulties. However, there is limited empirical data to inform the day-to-day practice of insolvency, nor the difficulties experienced by insolvency practitioners in pursing insolvency and restructuring solutions. This book addresses this absence of data and understanding, examining the role and practice of corporate insolvency practitioners and exploring the challenges that they encounter. Offering an empirical study together with a comparative analysis of the experiences of practitioners around the world, this book facilitates a greater understanding of corporate insolvency practice, confronting a misunderstanding of, and under-confidence in, corporate insolvency practitioners, making it key reading for academics, practitioners and regulators working in the area of corporate insolvency.

A new and substantially revised edition which looks critically at the broad effect and conceptual underpinnings of corporate insolvency law.

With the increasing interdependence of global economies, international relations are becoming a more complex system. Through this, the growth of any economy is dependent upon the ease of business transactions; however, in recent times, there has been a growing impact of corporate insolvency law. Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy is an essential reference source that discusses the importance of insolvency laws in the financial architecture of emerging economies, as well as its fundamental issues. Featuring research on topics such as business restructuring, debt recovery, and governance regulations, this book is ideally designed for law students, policymakers, economists, lawyers, and business researchers seeking coverage on the jurisprudence and policy of corporate insolvency law in a globalized context.