Towards an Objective European Rule on Transaction Avoidance in Insolvencies

Weijs, R.J. de

doi:10.1002/iir.196

Cited by 8 publications

(2 citation statements)

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“…The second is dedicated towards the search for theoretical understanding of the insolvency process. The third explores the efficiency of proceedings [Camacho-Miñano et al 2013;Luttikhuis 2009;de Weijs 2011].…”

Section: Literature Reviewmentioning

confidence: 99%

Failure and Insolvency. A Proposal for Polish Prediction Models

Staszkiewicz¹,

Witkowski²

2018

PRACE NAUKOWE UNIWERSYTETU EKONOMICZNEGO WE WROCŁAWIU

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This paper discusses the problem of mutual use of the insolvency and bankruptcy variable for business failure modelling. The prior Polish literature on insolvency tends to focus on the qualitative research. This research shows how the terms bankruptcy and insolvency modelling on the informal dataset might result in different fits of the models. Models were estimated based on 17,024 firm's yearly observations from the 2004 to 2014 for the Polish financial market. Following prior research, the models were developed with application of the logit regression. The evidence gathered during the study supports the conclusion that the use of the legal definition of insolvency is a weak instrument for bankruptcy modelling.

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Section: Literature Reviewmentioning

confidence: 99%

Failure and Insolvency. A Proposal for Polish Prediction Models

Staszkiewicz¹,

Witkowski²

2018

PRACE NAUKOWE UNIWERSYTETU EKONOMICZNEGO WE WROCŁAWIU

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“…The idea of the harmonisation of the substantive rules governing transaction avoidance has been looming in Europe for some time (European Parliament, 2010;European Commission, Directorate General Justice and Consumer Affairs 2016;Weijs, 2011;and others). The problems of transaction avoidance and asset recovery have attracted the attention of legal scholars in both the national and international insolvency contexts (CERIL, 2017;McCormack & Bork, 2017;Casasola, 2019;Keay, 2018;Bork & Veder, 2022).…”

Section: Introductionmentioning

confidence: 99%

The Development of Transaction Avoidance in European Union Insolvency Law

2023

ICJ

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Transaction avoidance is part of insolvency proceedings. The successful application of the rules on transaction avoidance allows the value of the debtor's assets to be maximised, and thus increases the satisfaction of creditors' claims. In the European Union, the substantive rules on insolvency law still are a matter of the national laws of Member States. However, trends in the policy-making actions of the European Union reveal that various initiatives have been proposed to establish certain rules on transaction avoidance which should increase recovery rates for creditors and contribute to the proper functioning of the domestic market. This article focuses on the general aims of transaction avoidance and provides a critical assessment of the proposed harmonisation of the rules on transaction avoidance in European Union law. The authors found that the proposed rules on the harmonisation of transaction avoidance rules in European Union insolvency law may actually discourage businesses regarding the exercise of the freedom of establishment, and may also intervene in the substantive insolvency and civil law regulations of Member States.

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Harmonisation of European Insolvency Law and the Need to Tackle Two Common Problems: Common Pool and Anticommons

Weijs

2012

Intl Insolvency Rev

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Insolvency law has finally become a field of law for which harmonisation at a European level is considered both important and feasible. In deciding upon the content of such harmonised rules, there will need to be a common understanding about the goals of insolvency law and, therefore, a European debate on bankruptcy theory. Bankruptcy theory, and most notably the influential creditors' bargain theory, has long viewed insolvency law as a set of rules for overcoming common pool problems. Bankruptcy theory thus far has almost completely overlooked anticommons problems. Anticommons present themselves in a situation in which there are several owners or entitled parties, and each of the parties has it within its power to block the use by others. Should anticommons behaviour in insolvency procedures go unchecked, creditors as a whole will be harmed. Insolvency is a collective process, and this process may not be sabotaged by a single party. Four typical insolvency issues, each identified by INSOL Europe as a candidate for harmonisation at a European level, are discussed, analysing them in terms of common pool problems and anticommons: preferences, reorganisation/composition plans, claim validation and insolvency of a group of companies. Copyright © 2012 John Wiley & Sons, Ltd.

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Towards an Objective European Rule on Transaction Avoidance in Insolvencies

Cited by 8 publications

References 1 publication

Failure and Insolvency. A Proposal for Polish Prediction Models

Failure and Insolvency. A Proposal for Polish Prediction Models

The Development of Transaction Avoidance in European Union Insolvency Law

Harmonisation of European Insolvency Law and the Need to Tackle Two Common Problems: Common Pool and Anticommons

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