This new edition of Corporate Insolvency Law builds on the unique and influential analytical framework established in previous editions - which outlines the values to be served by insolvency law and the need for it to further corporate as well as broader social ends. Examining insolvency law in the fast-evolving commercial world, the third edition covers the host of new laws, policies and practices that have emerged in response to the fresh corporate and financial environments of the post-2008 crisis era. This third edition includes a new chapter on the growing issue of cross border insolvency and deals with a host of recent developments, notably; the consolidation of the rescue culture in the UK, the rise of the pre-packaged administration, and the substantial replacement of administrative receivership with administration. Suitable for advanced undergraduate and graduate students, professionals and academics, Corporate Insolvency Law offers an organised basis for rising to the challenges of an ever-shifting area of the law.
Vanessa Finch is a Professor of Law Emeritus at the London School of Economics and Political Science where she taught Insolvency Law, Company Law and Corporate Accountability at undergraduate and Masters level. She has published numerous scholarly articles in the insolvency and corporate law fields and she is a subscriber member of R3 and an Honorary Member of the Insolvency Lawyers' Association. David Milman has studied the subject of corporate insolvency law since undertaking his Ph.D. on the subject in 1976. He has published numerous texts and articles on the subject and is an Honorary Member of the Insolvency Lawyers' Association and a subscriber member of R3. Before moving to the Lancaster University in 2005, he taught at the University of Manchester for 27 years, where he was Dean of the Law School from 1995-7.
Part I. Agendas and Objectives: 1. The roots of corporate insolvency law; 2. Aims, objectives and benchmarks; Part II. The Context of Corporate Insolvency Law: Financial and Institutional: 3. Insolvency and corporate borrowing; 4. Corporate failure; 5. Insolvency practitioners and turnaround professionals; Part III. The Quest for Turnaround: 6. Rescue; 7. Informal rescue; 8. Receivers and their role; 9. Administration; 10. Pre-packaged administrations; 11. Company arrangements; 12. Rethinking rescue; Part IV. Gathering and Distributing the Assets: 13. Gathering the assets: the role of liquidation; 14. The pari passu principle; 15. Bypassing pari passu; Part V. The Impact of Corporate Insolvency: 16. Directors in troubled times; 17. Employees in distress; 18. Cross border insolvency; 19. Conclusion.