Search results for

Welcome to this year's Insolvency and Corporate Reorganisation Report, offering jurisdictional analyses and expert commentary on the most significant restructuring and bankruptcy developments from around the world

Robert van Galen, president of Insol Europe, reflects upon developments in European restructuring this year

Carola Schuler, Moody’s managing director of financial institutions in Europe, the Middle East and Africa, discusses its new methodology and the global regulatory environment

There are two main categories of statutory bankruptcy proceedings in Norway both regulated by the Bankruptcy Act 58 of June 8 1984: winding-up proceedings and judicial debt negotiation proceedings. Judicial debt negotiation proceedings can be either voluntary or compulsory, subject to slightly different legislation.

Formal collective insolvency procedures under the Insolvency Act 1986 (Act) consist of company voluntary arrangements (CVA), administration and liquidation. Receivership is a secured creditor's limited enforcement remedy.

The Chinese Enterprise Bankruptcy Law (Bankruptcy Law) sets out three types of bankruptcy proceedings for firms in financial trouble: liquidation, reorganisation, and reconciliation. The debtor or any of its creditors may file for liquidation or reorganisation when the debtor becomes insolvent. Reorganisation may also be commenced if the debtor is in imminent insolvency. Only the debtor itself may file for reconciliation. Reconciliation is a process whereby the debtor renegotiates the terms of its debt with the creditors to reach a reconciliation plan, which will be binding upon all creditors once approved by the creditors' meeting and the court. Reconciliation cases are very rare in practice.

Mark Robinson, president of Insol International, discusses his goals for Insol and restructuring developments in the Asia-Pacific

In Argentina, reorganisation and bankruptcy is governed by Law 24,522 (the Bankruptcy Law), which provides for the following insolvency processes.

There are a number of principal corporate insolvency and reorganisation proceedings available under Irish law.

Bankruptcy is regulated by articles 437 to 592 of the Commercial Code. Bankruptcy may be initiated by the debtor itself, by the public prosecutor or by a creditor. The procedure applies to a debtor who meets both of the following criteria: (i) not being able to pay due debts; and (ii) not being able to raise credit. The Commercial Chamber of the District Court (court) will appoint a bankruptcy trustee in charge of the bankruptcy and a judge to supervise the proceedings on granting the petition. Its aim is to realise the debtor's assets and pay the creditors through the recovered assets.