Si falitii pot fi arbitrati

Un tribunal din Brazilia afirma ca si societatile care sunt in insolventa isi pot solutiona litigiile prin arbitraj.

Stirea este aici.

Armonizarea falitilor de catre o institutie semi-falita

Ma scuzati ca am scris despre UNCITRAL ca este o institutie semi-falita. Dar asa cum se modifica unele conceptii despre lume si viata asa si cu aceasta Comisie a Natiunilor Unite. Sau poate, ma scuzati de blasfemie, chiar Natiunile (sa mai spun Unite, ca astazi uniunea dintre sot si sotie nu mai este ce a fost..). Cum scria la carte. De dreptu’ fameliei.

Analogia dintre familia formata dintre un sot si o sotie si familia Natiunilor Unite nu este asa de hazardata.

Susan Block-Lieb & Terence Halliday, Harmonization and Modernization in UNCITRAL’s Legislative Guide on Insolvency Law, Texas International Law Journal. Austin: Summer 2007. Vol. 42, Iss. 3. [*]

Insolventa grupurilor de societati in Anglia si Franta

O chestie destul de complicata: turnul babel al legislatiei si conflictul de imagine - in acest caz Regulamentul european si Legea model UNCITRAL. Nu este conflict de legi, pentru ca UNCITRAL are doar o Lege model si nu o Conventie.

Marina Matousekova, Les réponses du droit international privé à la faillite des groupes internationaux de sociétés: analyse comparative des jurisprudences française et anglaise, IBLJ/RDAI, 2/2008.

Le présent article offre une analyse comparative de la jurisprudence rendue en droits commun et communautaire, par les tribunaux anglais et français, concernant la faillite des groupes de sociétés transfrontaliers. On constate, en droit commun, le principe d’un traitement cloisonné de la faillite des entités d’un groupe, sauf dans de très rares cas d’abus caractérisé de la personnalité morale permettant, selon les théories de la confusion ou du piercing of the corporate veil, d’attraire dans une procédure unique ouverte à l’encontre d’une entité d’un groupe d’autres entités du groupe (même in bonis) avec les lourdes conséquences que cela implique à l’égard des tiers. L’adoption récente par l’Angleterre de la loi-type de la CNUDCI en matière d’insolvabilité international pourrait permettre de dégager des solutions plus adaptées, à l’instar de celles retenues en droit communautaire. En la matière, les cours anglaises innovèrent en reconnaissant, sur le fondement du critère juridictionnel du centre des intérêts principaux du débiteur de l’article 3.1 du Règlement 1346/2000, la possibilité de centraliser devant un unique tribunal (celui du lieu des head office functions) les différentes procédures d’insolvabilité affectant les entités d’un même groupe. Les tribunaux français, ayant dans un premier temps cherché à s’opposer à la reconnaissance en France des effets de jugements d’ouverture anglais concernant des filiales françaises, admettent et appliquent aujourd’hui clairement une telle jurisprudence.

Implementation of UNCITRAL Model Law on Cross-Border Insolvency in Great Britain, August 2005 [*]

 

Matching Bankruptcy Laws to Legal Environments

Kenneth Ayotte, Matching Bankruptcy Laws to Legal Environments, Journal of Law, Economics, and Organization Advance Access published online on October 25, 2007.

We study a model of optimal bankruptcy law in an environment where legal quality can vary along two dimensions: the expertise of judges and the quality of contract enforcement. We analyze a model in which a judicially influenced bankruptcy process can enhance the efficiency of incomplete contracts by conditioning the allocation of control rights in bankruptcy on firm quality. We consider the optimal balance of debtor and creditor interests as a function of the legal environment and show that the optimal degree of “creditor-friendliness” in the bankruptcy code increases as judicial ability to recognize firm quality falls and as the quality of contract enforcement deteriorates. Our model shows that a bankruptcy law that attempts to preserve going-concern value, such as US Chapter 11, requires judicial expertise to be effective. Where such expertise is unavailable, a law that focuses more on creditor recovery is preferred.

Cum provocam investitorii?

A aparut Hotararea Guvernului nr. 1165 din 26 septembrie 2007, (M.Of.688/10 octombrie 2007) pentru stimularea cresterii economie prin sprijinirea realizarii de investitii.

Avand in vedere ca Romanica are nevoie de bani (electorale, prietenii etc) ne propunem sa facem o exceptie de la regimul ajutoarelor de stat europene, acordand intreprinderilor ajutoare de stat in limita intensitatii maxim admisibile.

Nu va bucurati prea mult: trebuie sa fiti firma romaneasca (potrivit Legii nr. 31/1990), sa cheltuiti cel putin 30 milioane de euro si sa angajati cel putin 300 de persoane.

Bibliografie - Insolventa

Susan Block-Lieb, Terence Halliday, Harmonization and modernization in UNCITRAL’S Legislative Guide on Insolvency Law, Texas International Law Journal, Volume 42, Number 3, Summer 2007

Ian F. Fletcher, Maintaining the Momentum: The Continuing Quest for Global Standards and Principles to Govern Cross Border Insolvency, Brooklyn Journal of International Law, Volume 32, Number 3, 2007

Look Chan Ho, Proving COMI: Seeking Recognition Under Chapter 15 of the US Bankruptcy Code (September 13, 2007). Available at SSRN.

Alexander Michael Kipnis, Beyond UNCITRAL: Alternatives to Universality in Transnational Insolvency (July 3, 2006). Available at SSRN.

Junichi Matsushita, Japan’s personal Insolvency Law, Texas International Law Journal, Volume 42, Number 3, Summer 2007

Luc Morin, L’actionnaire et l’entreprise insolvable, Ottawa Law Review, Volume 38, Number 1, 2006-2007

Gareth Miller, The Effect of Bankruptcy on Property Adjustment Orders, Family Law, Volume 37, October 2007

Gabriel Moss, QC, Group Insolvency-Choice of Forum and Law: The European Experience Under the Influence of English Pragmatism, Brooklyn Journal of International Law, Volume 32, Number 3, 2007Christoph G. Paulus, Global Insolvency Law and the Role of Multinational Institutions, Brooklyn Journal of International Law, Volume 32, Number 3, 2007

John A. E. Pottow, The Myth (and Realities) of Forum Shopping in Transnational Insolvency, Brooklyn Journal of International Law, Volume 32, Number 3, 2007 (*)

Janis Sarra, From subordination to parity: an international comparison of equity securities law claims in insolvency proceedings, International Insolvency Review, Winter 2007. Vol. 16, Iss. 3; pg. 181 (*)

Keith D Yamauchi, Should reciprocity be a part of the UNCITRAL Model Cross-Border Insolvency Law?, International Insolvency Review, Winter 2007, Vol. 16, Iss. 3; pg. 145.

Keith D. Yamauchi, The UNCITRAL model cross-border insolvency law: the stay of proceedings and adequate protection, International Insolvency Review, Summer 2004. Vol. 13, Iss. 2; p. 87.

Keith D Yamauchi, Evolution, revolution or nothing at all? Recent reforms to Canadian bankruptcy and insolvency legislation, International Insolvency Review, Winter 2006. Vol. 15, Iss. 3; p. 163

***, Implementation of UNCITRAL Model Law on Cross-Border Insolvency in Great Britain. Summary of Responses and Government Reply, 2006 (*).

Reviste

Norton Journal of Bankruptcy Law and Practice

International Insolvency Review

Legislatie

Decizie nr. 928 din 18.10.2007 referitoare la excepţia de neconstituţionalitate a dispoziţiilor art. 99 alin. (4) din Legea nr. 85/2006 privind procedura insolvenţei

Decizie nr. 954 din 30/10/2007 referitoare la excepţia de neconstituţionalitate a dispoziţiilor art. 3 pct. 1 lit. a) şi art. 33 alin. (4) din Legea nr. 85/2006 privind procedura insolvenţei

 

Jurisprudenta

***, Fallimento: ai fini dei presupposti per la revocatoria conta il contratto definitivo, non il preliminare, Sezione prima, sentenza n. 2005/08; depositata il 29 gennaio [Stop alla sentenza che, rispetto alla conoscibilità dell'insolvenza, era incentrata sulla situazione del promittente venditore (fintosi proprietario dell'immobile) senza motivare sul negozio conclusivo]

Sale-Backs in Bankruptcy

Paul Povel, Rajdeep Singh, Sale-Backs in Bankruptcy, Journal of Law, Economics, and Organization, 3/2007

 

 

When bankrupt firms are sold, they are often repurchased by their former owner or manager. These insiders are by default better informed than outsiders about the true value of the firm or its assets, so other potential buyers must worry about overpaying if they win. The presence of insiders may thus have a chilling effect on the bidding. We ask how insiders should be treated in bankruptcy sales: Should they be allowed to submit bids? If so, under what conditions? We derive properties of an optimal sale procedure and show that it must be biased against insiders. Specifically, it should be harder for insiders to win with low bids than for outsiders. We show that the “market tests” that are routinely required in bankruptcy sales are suboptimal since they treat all potential buyers alike and forgo the benefits of biasing the procedure against insiders.