Insolvency Law
Insolvency law provides legal frameworks for addressing financial distress, including bankruptcy, reorganization, and debt restructuring. It balances the interests of debtors and creditors while promoting the efficient resolution of financial difficulties. This category covers personal and corporate insolvency across different legal systems, including liquidation and rehabilitation procedures.
Chinese Insolvency Law
Overview of Chinese Insolvency Law The Enterprise Bankruptcy Law of the People’s Republic of China (the EBL) was adopted on 27 August 2006 and took effect on 1 June 2007, replacing the …
Chinese Insolvency Practitioners
The Bankruptcy Administrator (Guanren) The bankruptcy administrator (guanren, 管理人) is the central figure in Chinese insolvency proceedings. Under the Enterprise Bankruptcy Law of the People’s …
Chinese Reorganization Plans
Legal Framework: Enterprise Bankruptcy Law Reorganisation plans in China are governed by Chapter 8 of the Enterprise Bankruptcy Law of the People’s Republic of China (qǐyè pòchǎn fǎ), effective …
Corporate Insolvency in Australia
Introduction Corporate insolvency law in Australia provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in Brazil
Introduction Corporate insolvency law in Brazil provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in Canada
Introduction Corporate insolvency law in Canada provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in Japan
Introduction Corporate insolvency law in Japan provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in Mexico
Introduction Corporate insolvency law in Mexico provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in Nigeria
Introduction Corporate insolvency law in Nigeria provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in South Africa
Introduction Corporate insolvency law in South Africa provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Corporate Insolvency in South Korea
Introduction Corporate insolvency law in South Korea provides the legal framework for dealing with financially distressed companies. The framework aims to maximize returns to creditors, rescue viable …
Cross-Border Insolvency in China
Cross-border insolvency in China is governed by the Enterprise Bankruptcy Law (Qiye Pochan Fa, 企业破产法, 2006), which contains provisions on the recognition and enforcement of foreign insolvency …
EU Insolvency Law
Overview of EU Insolvency Law EU insolvency law operates as a supranational regulatory framework that coordinates and harmonizes the insolvency regimes of Member States, rather than constituting a …
French Insolvency Law
Overview of French Insolvency Law French insolvency law is codified in Book VI of the Code de commerce (Articles L.610-1 through L.670-8), supplemented by the Code de procédure civile and the Code du …
French Insolvency Procedures: Sauvegarde, Redressement et Liquidation
The French Insolvency Framework French insolvency law is codified in Book VI of the Code de commerce (Articles L. 611-1 to L. 670-8) and applies to all commercial enterprises, artisans, farmers, and …
French Personal Insolvency (Surendettement)
The Legal Framework: Code de la Consommation Book VII French personal insolvency law is governed by Book VII of the Code de la consommation (Livre VII — Traitement des situations de surendettement), …
German Insolvency Law
Overview of German Insolvency Law German insolvency law is codified principally in the Insolvenzordnung (InsO), which entered into force on 1 January 1999, replacing the former Konkursordnung and …
German Insolvency Procedure
The Insolvency Code (InsO) German insolvency law is codified in the Insolvency Code (Insolvenzordnung, InsO), which replaced the former Bankruptcy Act (Konkursordnung), Composition Act …
Insolvency Law in Australia
Overview of Australian Insolvency Law Australian insolvency law is bifurcated into two distinct regimes: personal insolvency governed by the Bankruptcy Act 1966 (Cth) and corporate insolvency governed …
Insolvency Law in Brazil
Introduction Insolvency law in Brazil (Direito Falimentar or Direito Recuperacional) is governed by Law 11.101/2005 (the Bankruptcy and Judicial Reorganization Law), which replaced the outdated …
Insolvency Law in Canada
Introduction Canadian insolvency law establishes the legal framework for addressing the financial distress of both individuals and corporations. The regime is bifurcated between two principal federal …
Insolvency Law in Japan
Overview of Japanese Insolvency Law Japanese insolvency law comprises four principal statutes, each governing a distinct procedure: the Bankruptcy Act (Hasen Ho, Act No. 75 of 2004, replacing the 1922 …
Insolvency Law in Mexico
Introduction Mexican insolvency law is governed by the Mercantile Insolvency Law (Ley de Concursos Mercantiles, LCM), enacted in 2000 and substantially reformed in 2014. The LCM establishes a unified …
Insolvency Law in Nigeria
Introduction Insolvency law in Nigeria governs the legal consequences of financial failure for both companies and individuals. The Companies and Allied Matters Act (CAMA) 2020 contains the primary …
Insolvency Law in South Africa
Introduction South African insolvency law comprises two distinct regimes: the traditional sequestration and liquidation procedures under the Insolvency Act 24 of 1936, and the business rescue …
Insolvency Law in South Korea
Introduction South Korean insolvency law is consolidated in the Debtor Rehabilitation and Bankruptcy Act (DRBA, 채무자 회생 및 파산에 관한 법률, 2006) , which unified previously separate statutes on corporate …
Insolvency Regulation Recast (2015/848)
The Insolvency Regulation recast (Regulation (EU) 2015/848) is the principal instrument governing cross-border insolvency proceedings within the European Union. It recast and replaced the original …
International Insolvency in France
International Insolvency in French Law French law governing cross-border insolvency is codified principally in Book VI of the Code de commerce, supplemented by the EU Insolvency Regulation (Regulation …
Overview of German Insolvency Law
German insolvency law is codified in the Insolvenzordnung (InsO), governing the restructuring or liquidation of insolvent debtors. The InsO provides for debtor-in-possession proceedings, consumer …
Personal Bankruptcy in Australia
Introduction Personal bankruptcy law in Australia provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the interests …
Personal Bankruptcy in Brazil
Introduction Personal bankruptcy law in Brazil provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the interests of …
Personal Bankruptcy in Canada
Introduction Personal bankruptcy law in Canada provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the interests of …
Personal Bankruptcy in Japan
Introduction Personal bankruptcy law in Japan provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the interests of …
Personal Bankruptcy in Mexico
Introduction Personal bankruptcy law in Mexico provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the interests of …
Personal Bankruptcy in Nigeria
Introduction Personal bankruptcy law in Nigeria provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the interests …
Personal Bankruptcy in Russia: The 2015 Insolvency Law, Procedure, and Consequences
The introduction of personal bankruptcy (bankrotstvo grazhdan) in Russia through Federal Law No. 154-FZ of 29 June 2015, which amended the Federal Law on Insolvency (Bankruptcy) (No. 127-FZ of 26 …
Personal Bankruptcy in South Africa
Introduction Personal bankruptcy law in South Africa provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the …
Personal Bankruptcy in South Korea
Introduction Personal bankruptcy law in South Korea provides relief for individuals who are unable to pay their debts. The framework balances the interests of debtors in a fresh start with the …
Restructuring and Second Chance Directive (2019/1023)
The Restructuring and Second Chance Directive (Directive (EU) 2019/1023) establishes a harmonised framework for preventive restructuring, debt discharge, and business rehabilitation across the …
Russian Insolvency Law
Overview of Russian Insolvency Law Russian insolvency law is governed primarily by Federal Law No. 127-FZ “On Insolvency (Bankruptcy)” of 26 October 2002 (the Bankruptcy Law), which has …
Russian Insolvency Procedure Types
Sources of Insolvency Law Russian insolvency law is codified in the Federal Law on Insolvency (Bankruptcy) (No. 127-FZ of 26 October 2002, as amended), which applies to legal entities, individual …
UK Insolvency Law
Overview of UK Insolvency Law UK insolvency law is principally codified in the Insolvency Act 1986 (IA 1986) and the Insolvency (England and Wales) Rules 2016, supplemented by the Company Directors …
US Insolvency Law
Overview of US Insolvency Law US insolvency law is governed principally by the Bankruptcy Code, codified at Title 11 of the United States Code (11 USC). Enacted in 1978 and substantially amended by …