The Law and Practice of Restructuring in the UK and US

Author: Christopher Mallon,Shai Waisman

Publisher: Oxford University Press

ISBN: 0199583773

Category: Law

Page: 489

View: 3373

The Law and Practice of Restructuring in the UK and US is a practical guide to the restructuring of corporate debt and associated restructuring issues such as employees and pensions, from the perspective of both UK and New York law, the dominant systems of law in the world commercial and financial markets. At a time when many companies are looking at renegotiating and restructuring their debt agreements, this book provides a timely analysis of current techniques and likely developments in the field of corporate restructuring. An expert contributor team from both the US and UK combine their practical experience to cover all aspects of corporate restructuring. Through vivid exposure of the differences between the two jurisdictions, this book considers likely developments in the corporate restructuring landscape, for example the US Chapter 11 paradigm, as well as addressing lessons learned from past issues which are likely to feed into future develompents With coverage of techniques available to both stressed and distressed companies, as well as looking at specialist markets and key stakeholders, The Law and Practice of Restructuring in the UK and US is an invaluable guide for banking, finance and insolvency practitioners and their clients, both financial institutions and companies looking to restructure debt, as well as global accountancy firms and law and business schools worldwide.
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Corporate Rescue Law--an Anglo-American Perspective

Author: Gerard McCormack

Publisher: Edward Elgar Publishing

ISBN: 1848445105

Category: Law

Page: 322

View: 3232

. . . a highly readable and informative text and an excellent addition to insolvency scholarship. . . In their entirety, the chapters of Corporate Rescue Law An Anglo-American Perspective represent one of the most incisive and relevant treatments of comparative insolvency regimes to date. . . This book is an absolute boon: it provides the reader with a mass of legal and practical insights into the workings of two ostensibly divergent systems and challenges received wisdom in a fluent and persuasive manner. Not only are legal differences examined through the lens of practice, but also commercial, philosophical and social responses to failure are considered and highlighted as possible drivers of those real distinctions that do exist. Professor McCormack has produced an exceptional work that should be required reading for academics, practitioners and policy makers alike, and is to be warmly congratulated. Sandra Frisby, Banking and Finance Law Review The issues are well chosen. They are easily the most important aspects of any corporate rescue law. The careful analysis of the technical provisions, the incorporation of the extensive scholarship on the two corporate rescue regimes and the reference to practice in the real world all help to make these chapters an indispensable tool for any scholar wishing to gain a better understanding of the similarities and differences of English and American corporate rescue laws. . . This monograph could not have come at a better time. . . The comparative account in this book will help law reformers, judges and scholars to have a better grasp of the issues and appreciate better how the two systems have dealt with them. . . Comparative law has a critical role to play in promoting mutual understanding and respect. It is hoped that this monograph will help in that respect. Wee Meng Seng, Singapore Journal of Legal Studies This book offers an unprecedented and detailed comparative critique of Anglo-American corporate bankruptcy law. It challenges the standard characterisation that US law in the sphere of corporate bankruptcy is pro-debtor and UK law is pro-creditor , and suggests that the traditional thesis is, at best, a potentially misleading over-simplification. Gerard McCormack offers the conclusion that there is functional convergence in practice, while acknowledging that corporate rescue, as distinct from business rescue, still plays a larger role in the US. The focus is on corporate restructurings with in-depth scrutiny of Chapter 11 of the US Bankruptcy Code and the UK Enterprise Act, and offers other comparative oversights. Integrating theoretical and practical insights, this book will be of great interest to academics and practitioners, and also to policymakers in the DTI, Insolvency Service and regulatory bodies.
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Toward a Statutory Approach to Sovereign Debt Restructuring

Lessons From Corporate Bankruptcy Practice Around the World

Author: Mr. Patrick Bolton

Publisher: International Monetary Fund

ISBN: 1451891113

Category: Business & Economics

Page: 37

View: 4952

This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization institutions: a stay on debt collection efforts to prevent a costly run for the assets, broad enforcement of absolute priority, majority voting among creditors on the proposed reorganization plan, and new higher priority financing to keep the firm going while its liabilities are restructured. The paper argues that these components ought to be present in any sovereign debt restructuring procedure.
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The Law on Corporate Governance in Banks

Author: Iris H-Y Chiu,Michael McKee

Publisher: Edward Elgar Publishing

ISBN: 1782548866

Category: Law

Page: 384

View: 7818

Corporate governance in financial institutions has come under the spotlight since the banking crisis in the UK in 2008-9. In many respects, the banking business raises unique problems for corporate governance that are not found in other corporate secto
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Restructuring the Professional Organization

Accounting, Health Care and Law

Author: David Brock,C. R. Hinings,Michael Powell

Publisher: Routledge

ISBN: 1134651945

Category: Business & Economics

Page: 272

View: 420

In recent years the professions have undergone radical transformation. With the advent of rapidly changing markets, more sophisticated and demanding clients, deregulation and increased competition, the generalist professional partnerships have given way to larger, more corporate forms of organization, comprising increasingly autonomous specialist business units. This volume critically examines these changes through an examination of the archetypes which characterize accounting, health care and law practitioners. With examples drawn from Australia, Canada, the UK and the USA, Restructuring the Professional Organization will be of interest to all students of organization studies seeking to understand the issues and problems confronting the professions as they move to the new millennium. Topics covered include: * a review of the models of professional organization *drivers of change in professional organizations * internal dynamics of changes in these organizations * new organizational forms and archetypes.
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Seeking Asylum in the UK

Problems and Prospects

Author: Colin Harvey

Publisher: Cambridge University Press

ISBN: 9780406895929

Category: Law

Page: 345

View: 3370

An examination of the emergence of the legal regime in the United Kingdom addressing refugees and asylum seekers.
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Voices at Work

Continuity and Change in the Common Law World

Author: Alan Bogg,Tonia Novitz

Publisher: OUP Oxford

ISBN: 0191505668

Category: Law

Page: 470

View: 4867

This edited collection is the culmination of a comparative project on 'Voices at Work' funded by the Leverhulme Trust 2010 - 2013. The book aims to shed light on the problematic concept of worker 'voice' by tracking its evolution and its complex interactions with various forms of law. Contributors to the volume identify the scope for continuity of legal approaches to voice and the potential for change in a sample of industrialised English speaking common law countries, namely Australia, Canada, New Zealand, UK, and USA. These countries, facing broadly similar regulatory dilemmas, have often sought to borrow and adapt certain legal mechanisms from one another. The variance in the outcomes of any attempts at 'borrowing' seems to demonstrate that, despite apparent membership of a 'common law' family, there are significant differences between industrial systems and constitutional traditions, thereby casting doubt on the notion that there are definitive legal solutions which can be applied through transplantation. Instead, it seems worth studying the diverse possibilities for worker voice offered in divergent contexts, not only through traditional forms of labour law, but also such disciplines as competition law, human rights law, international law and public law. In this way, the comparative study highlights a rich multiplicity of institutions and locations of worker voice, configured in a variety of ways across the English-speaking common law world. This book comprises contributions from many leading scholars of labour law, politics and industrial relations drawn from across the jurisdictions, and is therefore an exceedingly comprehensive comparative study. It is addressed to academics, policymakers, legal practitioners, legislative drafters, trade unions and interest groups alike. Additionally, while offering a critique of existing laws, this book proposes alternative legal tools to promote engagement with a multitude of 'voices' at work and therefore foster the effective deployment of law in industrial relations.
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The Oxford Handbook of Employment Relations

Author: Adrian Wilkinson,Geoffrey Wood,Richard Deeg

Publisher: OUP Oxford

ISBN: 0191651494

Category: Business & Economics

Page: 760

View: 6476

There have been numerous accounts exploring the relationship between institutions and firm practices. However, much of this literature tends to be located into distinct theoretical-traditional 'silos', such as national business systems, social systems of production, regulation theory, or varieties of capitalism, with limited dialogue between different approaches to enhance understanding of institutional effects. Again, evaluations of the relationship between institutions and employment relations have tended to be of the broad-brushstroke nature, often founded on macro-data, and with only limited attention being accorded to internal diversity and details of actual practice. The Handbook aims to fill this gap by bringing together an assembly of comprehensive and high quality chapters to enable understanding of changes in employment relations since the early 1970s. Theoretically-based chapters attempt to link varieties of capitalism, business systems, and different modes of regulation to the specific practice of employment relations, and offer a truly comparative treatment of the subject, providing frameworks and empirical evidence for understanding trends in employment relations in different parts of the world. Most notably, the Handbook seeks to incorporate at a theoretical level regulationist accounts and recent work that link bounded internal systemic diversity with change, and, at an applied level, a greater emphasis on recent applied evidence, specifically dealing with the employment contract, its implementation, and related questions of work organization. It will be useful to academics and students of industrial relations, political economy, and management.
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Out of the Box Thoughts About the International Financial Architecture

Author: Mr. Barry J. Eichengreen

Publisher: International Monetary Fund

ISBN: 1451916930

Category: Business & Economics

Page: 26

View: 6003

The Global Credit Crisis of 2008-09 has underscored the urgency of reforming the international financial architecture. While a number of short-term reforms are already in train, this paper contemplates more ambitious reforms of the international financial architecture that might be implemented over the next ten years. It proposes routinizing the expansion of IMF quotas and the conduct of exchange rate surveillance. It contemplates an expanded role for the SDR in international transactions, which would require someone-like the IMF-to act as market maker. It considers proposals for reimposing Glass-Steagall-like restrictions on commercial and investment banking, something that will have to be coordinated internationally to be feasible. Other proposals would require banks to purchase capital insurance; here the question is who would be on the other side of the market. Again there is likely to be a role for the IMF. Then there are arguments for a new agency or institution to deal with cross-border bank insolvencies. Any such entity will require staff support, which might plausibly come from the Fund. Finally, some insist that international colleges of regulators are not enough-that it is desirable to create a World Financial Organization (WFO) with the power to sanction members whose national regulatory policies are not up to international standards. A WFO will similarly need staff support, of which the IMF would be one possible source. All this of course presupposes meaningful IMF governance reform so that the institution has the legitimacy and efficiency to assume these additional responsibilities. The paper therefore concludes with some conventional and unconventional proposals for IMF governance reform.
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Gastrointestinal Tract Imaging E-Book

An Evidence-Based Practice Guide

Author: Julie Nightingale,Robert Law

Publisher: Elsevier Health Sciences

ISBN: 0702045497

Category: Medical

Page: 436

View: 1783

This book offers a unique insight into the rapidly changing radiology service, and offers introductory chapters which provide the fundamental underpinning knowledge required for safe and effective GI practice. Subsequent chapters discuss the evidence base related to a range of imaging procedures suitable for investigation of upper and lower GI symptoms, supported by key pathology chapters. The book also explores the range of treatments available for the more common GI tract pathology. Multi professional authorship. Detailed evidence-informed explanations of a range of individual GI procedures, including suggestions for problem solving and adaptation of technique. With extensive illustrations, medical images, boxes and tables. References and further reading. /ul>
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The Transformation of Labour Law in Europe

A Comparative Study of 15 Countries 1945-2004

Author: Bob Hepple,Bruno Veneziani

Publisher: Bloomsbury Publishing

ISBN: 1847315356

Category: Law

Page: 412

View: 7371

The labour laws of European democracies all underwent major transformations in the seven decades after the Second World War. Following reconstruction, these laws became an essential element in the building of welfare states; in the 1980s and 1990s they were the target of neo-liberal deregulation; and at the beginning of the 21st century new 'flexible' labour laws have attempted to integrate economic and social policy. This book, a sequel to 'The Making of Labour Law in Europe- A Comparative Study of Nine Countries up to 1945' (ed. B Hepple), compares the similarities and differences in the ways in which EU Member States reflected and shaped these general developments, in the context of economic, social and political changes over the period 1945-2004. Note: the Publishers are issuing a reprint of the first volume, 'The Making of Labour Law in Europe - A Comparative Study of Nine Countries up to 1945' to coincide with publication of the sequel. The great strength of the collection is on the focus on context, with chapters looking at developments in labour market trends and structures of worker represntation.
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Antitrust and the Formation of the Postwar World

Author: Wyatt Wells

Publisher: Columbia University Press

ISBN: 0231502737

Category: Law

Page: 240

View: 1577

Today antitrust law shapes the policy of almost every large company, no matter where headquartered. But this wasn't always the case. Before World War II, the laws of most industrial countries tolerated and even encouraged cartels, whereas American statutes banned them. In the wake of World War II, the United States devoted considerable resources to building a liberal economic order, which Washington believed was necessary to preserving not only prosperity but also peace after the war. Antitrust was a cornerstone of that policy. This fascinating book shows how the United States sought to impose—and with what results—its antitrust policy on other nations, especially in Europe and Japan. Wyatt Wells chronicles how the attack on cartels and monopoly abroad affected everything from energy policy and trade negotiations to the occupation of Germany and Japan. He shows how a small group of zealots led by Thurman Arnold, who became head of the Justice Department's Antitrust Division in 1938, targeted cartels and large companies throughout the world: IG Farben of Germany, Mitsui and Mitsubishi of Japan, Imperial Chemical Industries of Britain, Philips of the Netherlands, DuPont and General Electric of the United States, and more. Wells brilliantly shows how subsequently, the architects of the postwar economy—notably Lucius Clay, John McCloy, William Clayton, Jean Monnet, and Ludwig Erhard—uncoupled political ideology from antitrust policy, transforming Arnold's effort into a means to promote business efficiency and encourage competition.
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Preventive Justice

Author: Andrew Ashworth,Lucia Zedner

Publisher: OUP Oxford

ISBN: 0191021059

Category: Law

Page: 310

View: 4913

This book arises from a three-year study of Preventive Justice directed by Professor Andrew Ashworth and Professor Lucia Zedner at the University of Oxford. The study seeks to develop an account of the principles and values that should guide and limit the state's use of preventive techniques that involve coercion against the individual. States today are increasingly using criminal law or criminal law-like tools to try to prevent or reduce the risk of anticipated future harm. Such measures include criminalizing conduct at an early stage in order to allow authorities to intervene; incapacitating suspected future wrongdoers; and imposing extended sentences or indefinate on past wrongdoers on the basis of their predicted future conduct - all in the name of public protection and security. The chief justification for the state's use of coercion is protecting the public from harm. Although the rationales and justifications of state punishment have been explored extensively, the scope, limits and principles of preventive justice have attracted little doctrinal or conceptual analysis. This book re-assesses the foundations for the range of coercive measures that states now take in the name of prevention and public protection, focussing particularly on coercive measures involving deprivation of liberty. It examines whether these measures are justified, whether they distort the proper boundaries between criminal and civil law, or whether they signal a larger change in the architecture of security. In so doing, it sets out to establish a framework for what we call 'Preventive Justice'.
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A Global View of Business Insolvency Systems

Author: Jay Lawrence Westbrook

Publisher: Martinus Nijhoff Publishers

ISBN: 9004180257

Category: Law

Page: 300

View: 1405

We live in an age of economic turmoil. The recent crises emphasize the need for modern, sophisticated rules to govern businesses in financial distress in order to realize value from distressed companies and to protect economic institutions. This book provides information for legislators, policymakers, lawyers, accountants, academics, and administrators who seek to understand the workings of insolvency laws. Guided by the World Bank’s Principles and Guidelines, it supplements the work in this field done by UNCITRAL.
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Torture as Tort

Comparative Perspectives on the Development of Transnational Human Rights Litigation

Author: Craig Scott

Publisher: Bloomsbury Publishing

ISBN: 1847316808

Category: Law

Page: 776

View: 4545

The controversial nature of seeking globalised justice through national courts has become starkly apparent in the wake of the Pinochet case in which the Spanish legal system sought to bring to account under international criminal law the former President of Chile,for violations in Chile of human rights of non-Spaniards. Some have reacted to the involvement of Spanish and British judges in sanctioning a former head of state as nothing more than legal imperialism while others have termed it positive globalisation. While the international legal and associated statutory bases for such criminal prosecutions are firm, the same cannot be said of the enterprise of imposing civil liability for the same human-rights-violating conduct that gives rise to criminal responsibility. In this work leading scholars from around the world address the host of complex issues raised by transnational human rights litigation. There has been, to date, little treatment, let alone a comprehensive assessment, of the merits and demerits of US-style transnational human rights litigation by non-American legal scholars and practitioners. The book seeks not so much to fill this gap as to start the process of doing so, with a view to stimulating debate amongst scholars and policy-makers. The book's doctrinal coverage and analytical inquiries will also be extremely relevant to the world of transnational legal practice beyond the specific question of human rights litigation.
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Consuming Interests

The Social Provision of Foods

Author: Andrew Flynn,Michelle Harrison,Terry Marsden

Publisher: Routledge

ISBN: 1135357994

Category: Science

Page: 240

View: 5895

Combining theory, research and policy Consuming Interests provides a topical interdisciplinary exploration into the nature of food provision, policy and regulation. The book provides a detailed examination of corporate retailers, state agencies and consumer organisations involved in the food sector. The analysis explores questions including: * what can the public expect from the state * what limits are there on state action * what are the most appropriate balances between public and private interests in the provision of 'quality' foods.
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Bond Restructuring and Moral Hazard

Are Collective Action Clauses Costly?

Author: Mr. Törbjörn I. Becker,Mr. Anthony J. Richards,Mr. Yunyong Thaicharoen

Publisher: International Monetary Fund

ISBN: 1451897421

Category: Business & Economics

Page: 41

View: 6501

Many official groups have endorsed the wider use by emerging market borrowers of contract clauses which allow for a qualified majority of bondholders to restructure repayment terms in the event of financial distress. Some have argued that such clauses will be associated with moral hazard and increased borrowing costs. This paper addresses this question empirically using primary and secondary market yields and finds no evidence that the presence of collective action clauses increases yields for either higher- or lower-rated issuers. By implication, the perceived benefits from easier restructuring are at least as large as any costs from increased moral hazard.
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Critical Legal Perspectives on Global Governance

Liber Amicorum David M Trubek

Author: Gráinne de Búrca,Claire Kilpatrick,Joanne Scott

Publisher: A&C Black

ISBN: 1782252886

Category: Law

Page: 482

View: 1165

This book of essays, written in honour of Professor David Trubek, explores many of the themes which he has himself written about, most notably the emergence of a global critical discourse on law and its application to global governance. As law becomes ever more implicated in global governance and as processes related to and driven by globalisation transform legal systems at all levels, it is important that critical traditions in law adapt to the changing legal order and problématique. The book brings together critical scholars from the EU, and North and South America to explore the forms of law that are emerging in the global governance context, the processes and legal roles that have developed, and the critical discourses that have been formed. By looking at critical appraisals of law at the global, regional and national level, the links among them, and the normative implications of critical discourses, the book aims to show the complexity of law in today's world and demonstrate the value of critical legal thought for our understanding of issues of contemporary governance and regulation. Scholars from many countries contribute critical studies of global and regional institutions, explore the governance of labour and development policy in depth, and discuss the changing role of lawyers in global regulatory space.
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Racialization, Crime, and Criminal Justice in Canada

Author: Wendy Chan,Dorothy Chunn

Publisher: University of Toronto Press

ISBN: 1442605766

Category: Social Science

Page: 240

View: 9062

Race still matters in Canada, and in the context of crime and criminal justice, it matters a lot. In this book, the authors focus on the ways in which racial minority groups are criminalized, as well as the ways in which the Canadian criminal justice system is racialized. Employing an intersectional analysis, Chan and Chunn explore how the connection between race and crime is further affected by class, gender, and other social relations.The text covers not only conventional topics such as policing, sentencing, and the media, but also neglected areas such as the criminalization of immigration, poverty, and mental illness.
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Globalization and the American Century

Author: Alfred E. Eckes, Jr,Thomas W. Zeiler

Publisher: Cambridge University Press

ISBN: 9780521009065

Category: Business & Economics

Page: 343

View: 4268

A bold new approach to American history and diplomacy in the twentieth century.
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