Commencement of Insolvency Proceedings (Oxford International & Comparative Insolvency Law)

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This is the first volume in the new Oxford International and Comparative Insolvency Law Series. The series will provide a comparative analysis of all important aspects of insolvency proceedings and domestic insolvency laws in the main economically developed and emerging countries, starting with the opening of proceedings.

This volume addresses the commencement of insolvency proceedings over business debtors and the conditions in which they may arise. It explains the types of proceedings available and the participants involved. The book also analyses the effect of such action on the various players, assets and liabilities concerned.

The detail and uniform nature of the treatment of topics helps practitioners to understand specific features of a foreign legal system and effectively brief foreign counsel. For all readers, the book provides access, through analysis in the detailed commentary, to material that was previously only available in a foreign language. Most major legal families (including various mixed legal systems) are covered to reflect the needs of the international insolvency community and intergovernmental
organizations.

This is the only book that offers a thorough comparative analysis of existing domestic insolvency laws concerning the opening of insolvency proceedings in the main economically developed and emerging countries.

Commencement of Insolvency Proceedings (Oxford International & Comparative Insolvency Law) Review

FROM 20 COUNTRIES, INCLUDING OTHERWISE INACCESSIBLE MATERIALS IN ENGLISH

An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers

Ideal for international insolvency practitioners, this book is the first of a new -- and certainly a pioneering -- series from the Oxford University Press, namely the Oxford International and Comparative Insolvency Law Series.

The aim of the series, as the publishers have aptly put it, is to provide practitioners with `a working background on the specific features of a foreign legal system when advising clients and engaging foreign counsel'. There are 20 legal systems examined in this book.

Such is the practical value of the series and, specifically of this book, which offers in one convenient volume, a learned and wide-ranging overview, (termed a `National Report') on commencement of insolvency procedures in each of 20 countries worldwide and there is quite a cross section -- from Australia, Belgium, Brazil, Cameroon and Canada, to Sweden, Tanzania and the United States (oh yes, and England too - `England', we take it, refers to England and Wales).

Some of the selected countries are economically developed; others are emerging - some with common law jurisdictions, others with civil, or mixed legal systems.

Two of the editors, Dennis Faber and Niels Vermunt (who are also the series editors) express the view that `this is the foundation of any future harmonization of insolvency law that would have a chance of widespread acceptance, and the series thus complements pending international projects on insolvency matters initiated elsewhere.'

Note that much of the previously inaccessible material provided in this volume now emerges conveniently in English The hoped for result, in the words of the editors, is that this book and those which follow will `(demystify) national perspectives on insolvency-related subjects... by illuminating divergences and common elements of national laws,' as well as inspiring innovative ideas and analysis and ultimately, criticism wherever appropriate.

For the sake of consistency and clarity, each article is similarly structured to facilitate - in the words of the preface --- meaningful comparisons without stripping national narratives of their richness.

We infer from another statement by the four editors that their approach is descriptive, rather than prescriptive and for the most part, non-judgmental. `We do not venture into the troubled waters of judicial independence,' they say, `or worse, corruption, even though lack of the former (and the presence of the latter) may obviously have massive influence'.

This research, they add, is better left to comparative legal sociologists, `hoping that they might perhaps find our conclusions of use in delineating the agenda for their work.'

Distinguished by its usability, as well as readability, this copiously footnoted book is a mine of scholarly information, not to mention numerous tools for further research.

It provides a detailed table of contents, extensive reading lists and massive tables of cases and legislation, plus a lengthy index at the back.

Practitioners, as well as academics involved in global business, would do well to add this useful and enlightening book to their professional libraries. The publication date is 2012.

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