About the Authors -- Foreword -- Chapter One: Introduction -- Chapter Two: Systems for the Enforcement of Debt -- 2.0. Overview -- 2.1. Enforcement of Unsecured Rights -- 2.1.1. Enforcement of Unsecured Debt in General -- 2.1.2. Types of Property Seizable -- 2.1.3. Exempt Property -- 2.1.4. Enforcement Process -- 2.1.5. Third Parties -- 2.1.6. Priorities -- 2.1.7. Provisional Remedies -- 2.1.8. Cross-Border Enforcement of Judgments -- 2.2. Secured Credit Systems -- 2.2.1. Personal Guarantees -- 2.2.2. Security Interests Generally -- 2.2.3. Title Retention -- 2.2.3.1. Generally -- 2.2.3.2. Ambiguity of Interests -- 2.2.4. Obtaining a Valid Security Interest -- 2.2.5. Types of Liens Permitted -- 2.2.6. Constraints on Secured Transactions -- 2.2.7. Enforcement -- 2.2.8. Priority -- 2.2.8.1. Publicity -- 2.2.8.2. Exemptions -- 2.2.8.3. Registration -- 2.2.8.4. OtherMethods of Publicity -- 2.2.8.5. Extent of Priority -- 2.2.8.6. Proceeds -- 2.2.9. Setoff (Offset) -- 2.2.10. Cross-Border -- 2.2.11. Consolidation of Laws -- 2.2.12. International Initiatives -- 2.2.13. Immovables (Real Estate) -- 2.2.14. Theoretical Debates -- Chapter Three: Corporate Insolvency Legislation -- 3.0. Introduction -- 3.1. The Liquidation/Rehabilitation Dynamic -- 3.2. Valuation -- 3.3. Director and Officer Liability -- 3.3.1. Comparative Legislative Survey -- 3.3.1.1. Background: Common Law/Case Law Approach -- 3.3.1.2. Specific Insolvency Law Statutory Provisions -- 3.3.1.2.1. Fraudulent Trading -- 3.3.1.2.2. Wrongful/Insolvent Trading -- 3.3.1.2.3. Directors' Disqualification and Overall Risk of Liability of Directors -- 3.3.2. Relationship Between Director and Officer Liability and Corporate Governance -- 3.4. Scope and Commencement of Insolvency Cases -- 3.4.1. Scope of Application.

3.4.1.1. Financial Institutions, Insurance Companies, Regulated Industries, and Other Groups -- 3.4.1.2. State-Owned Enterprises -- 3.4.2. Defining Insolvency -- 3.4.3. Commencement Criteria -- 3.4.4. Assets Administered in Insolvency -- 3.5. Moratoriumand Suspension of Actions -- 3.5.1. Lawsuits -- 3.5.2. State Regulatory Actions -- 3.5.3. Other Exceptions -- 3.5.4. Secured Creditors -- 3.5.4.1. Protection -- 3.5.4.2. Receivership Regimes -- 3.5.5. "Gap" Moratorium -- 3.6. Governance: Management -- 3.6.1. Administrator/Debtor in Possession -- 3.6.1.1. Liquidation -- 3.6.1.2. Rehabilitation -- 3.6.1.3. Administrator's Financial Responsibility -- 3.6.2. Governance: Creditors and Creditors' Committees -- 3.6.2.1. Organization of Creditors -- 3.6.2.2. Creditors' Committee Functions -- 3.6.2.3. Transparency and Approval Rights -- 3.6.2.4. Organization of Creditors' Committees -- 3.7. Administration: Collection, Preservation, and Disposition of Property -- 3.7.1. Rights of Secured Creditors -- 3.7.2. Retention of Title Claimants -- 3.7.3. Other Priorities -- 3.7.4. Procedure -- 3.8. Disposing of the Debtor's Assets -- 3.9. Contracts -- 3.9.1. Introduction -- 3.9.2. Decision to Terminate the Contract -- 3.9.3. Decision to Continue the Contract -- 3.9.4. Risks to Counterparties -- 3.9.5. Assignment of Contracts -- 3.9.6. Procedure -- 3.9.7. Special Contracts -- 3.9.8. Leases -- 3.9.9. Setoff, Netting, and Derivatives -- 3.10.Avoiding Pre-Proceeding Transfers -- 3.10.1. Generally -- 3.10.2. Intentional Fraud -- 3.10.3. Transactions at an Undervalue -- 3.10.4. Preferential Transfers -- 3.10.5. Defenses -- 3.10.5.1. Defenses to Avoidance Other Than Preferential -- 3.10.5.2. Defenses to Preferential Transfer Avoidance -- 3.10.6. Suspect Periods -- 3.10.7. Security Interests -- 3.10.8. Procedure -- 3.11.Avoiding Post-Insolvency Transfers.

3.12. Special Treatment of Partnerships -- Chapter Four: Corporate Rehabilitation Proceedings -- 4.0. Introduction -- 4.1. History and Key Issues -- 4.1.1. Formal and Informal Rescue and Rehabilitation Regimes -- 4.1.2. Survival of the Business and Liquidation -- 4.1.3. A Single or a Dual Gateway? -- 4.2. Structural Features of Rehabilitation Statutes -- 4.2.1. Access -- 4.2.2. Timely and Efficient Administration of the Proceedings -- 4.2.3. Protection of Secured Parties -- 4.2.4. Providing a Structure to Facilitate Fair Negotiation of a Plan -- 4.2.5. Judicial or Other Supervision -- 4.2.6. Shareholders' Interests -- 4.3. Stabilizing and Sustaining Business Operations -- 4.3.1. Financing -- 4.4. Disclosure of Information -- 4.4.1. Who Gathers the Information? -- 4.4.2. What Information andHow Obtained? -- 4.5. Plan: Formulation, Consideration, and Voting -- 4.5.1. Formulation -- 4.5.2. Sponsorship and Negotiation -- 4.5.3. Voting and Classes -- 4.5.4. Pre-packaged Plans -- 4.5.5. Plan Approval -- 4.5.6. Plan: Implementation and Amendment -- 4.5.7. Plan: Discharge and Binding Effects -- 4.6. Conclusion -- Chapter Five: InformalWorkouts and Restructuring -- 5.0. Introduction -- 5.1. What is an Informal Rescue? -- 5.2. Key Elements of a Rescue -- 5.3. Preventive Action -- 5.4. TheMain Aspects of an InformalWorkout -- 5.4.1. Commencing the Process -- 5.4.2. Engaging Advisers -- 5.4.3. Coordinating the Participants -- 5.4.4. Stabilizing the Business -- 5.4.5. Ensuring Adequate Cash Flow -- 5.4.6. Securing Access to Complete and Accurate Information on the Business -- 5.4.7. Negotiating, Agreeing to, and Implementing the Restructuring Plan -- 5.4.8. Dealing with Outside and Dissenting Creditors -- 5.4.9. The Restructuring Agreement must be Legally Binding on all Creditors -- 5.5. SomeWell-Known Informal Rescue and Restructuring Procedures.

5.5.1. Receivership -- 5.5.2. The London Approach -- 5.5.3. The Post-1997 Adaptation for Asia -- 5.5.4. The Pre-Packaged Insolvency Procedure -- 5.6. Conclusion -- Chapter Six: Employee Rights in Insolvency -- 6.0. Introduction -- 6.1. Special Status of Employees -- 6.2. Protecting Employees as Creditors -- 6.2.1. Wages and Benefits -- 6.2.2. Pensions -- 6.3. Personal Liability of Officers and Directors -- 6.4. Employees, Consultation, Participation, and Business Rescue -- 6.4.1. Employee Participation in Large Corporations -- 6.4.2. Employees in the Management of the Insolvency Proceeding -- Chapter Seven: Judicial and Administrative Institutions -- 7.0. Overview -- 7.1. Judiciary -- 7.2. Administrators -- 7.3. Comparative Approaches -- 7.3.1. General Remarks -- 7.3.2. Australia -- 7.3.3. Canada -- 7.3.4. Finland -- 7.3.5. United Kingdom -- 7.3.6. United States -- 7.3.7. Slovakia -- 7.3.8. China -- 7.4. Competence of Insolvency Administrators -- 7.5. Integrity of Administrators -- 7.6. Rules of Compensation of Professionals -- 7.7. Periodic Reports -- Chapter Eight: Cross-Border Considerations -- 8.0. Overview -- 8.1. Fundamental Issues -- 8.1.1. Basic Terminology and Concepts -- 8.1.1.1. Territoriality vs. Universality -- 8.1.1.2. Unitary vs.Multiple Proceedings -- 8.1.2. Jurisdiction -- 8.1.2.1. Determination of theMain Proceeding -- 8.1.2.2. Minimum Requirements for a Non-Main Proceeding -- 8.1.3. Choice of Law -- 8.1.4. Recognition of Foreign Proceedings -- 8.1.4.1. Meaning of Recognition -- 8.1.4.2. Forms of Recognition -- 8.1.4.2.1. No Trust, No Recognition -- 8.1.4.2.2. General Trust -- 8.1.4.2.3. Mid-GroundModifications -- 8.1.4.2.4. Speed and Efficiency of Recognition -- 8.1.4.2.5. Access and Assistance (Effects of Recognition) -- 8.1.4.2.6. International Cooperation -- 8.1.4.2.6.1. General Meaning -- 8.1.4.2.6.2. Modern Meaning.

8.2. International Initiatives -- 8.2.1. UNCITRAL Model Law on Cross-Border Insolvency -- 8.2.1.1. A Global Impact -- 8.2.1.2. The Basic Ideas -- 8.2.1.3. Universality Principle -- 8.2.1.4. Incompleteness of theModel Law -- 8.2.2. Latin American States -- 8.2.2.1. Contents -- 8.2.2.2. Deficiencies -- 8.2.3. Nordic European States -- 8.2.3.1. Contents -- 8.2.3.2. Achievements and Deficiencies -- 8.2.4. European Union Regulation on Cross-Border Insolvency -- 8.2.4.1. Basic Elements -- 8.2.4.2. Universality Principle -- 8.2.4.3. Restrictions of the Universality Principle -- 8.2.4.4. Deficiencies of the Regulation -- 8.2.5. American Law Institute's Transnational Insolvency Project -- 8.2.5.1. The Approach -- 8.2.5.2. Basic Considerations -- 8.2.5.3. Universality Principle -- 8.2.6. OHADA -- 8.2.6.1. The Project -- 8.2.6.2. Coordination of Several Proceedings -- 8.2.6.3. Recognition and its Consequences -- 8.2.6.4. Incompleteness of the Act -- 8.3. Possible Future Developments -- Bibliography -- 1. Articles -- 2. Books -- 3. Institutional Authors -- Index.