Debt Restructuring de Rodrigo Olivares-Caminal

Debt Restructuring

Autor Rodrigo Olivares-Caminal, Randall Guynn, Alan Kornberg, Sarah Paterson, Eric McLaughlin, Dalvinder Singh

en Limba Engleză Hardback – 19 aug 2022

Subliniem autoritatea incontestabilă a acestui colectiv de autori, condus de Rodrigo Olivares-Caminal, un expert recunoscut în drept financiar și insolvență, a cărui experiență academică la University of Warwick și implicarea în consilii editoriale internaționale garantează o rigoare științifică de cel mai înalt nivel. În această a treia ediție a lucrării Debt Restructuring, descoperim o analiză juridică exhaustivă, adaptată realităților economice post-pandemice, care servește drept busolă pentru practicieni și factori de decizie în peisajul complex al datoriilor corporative și suverane.

Notăm cu interes modul în care volumul integrează schimbările legislative majore, precum adoptarea planurilor de restructurare Part 26A și a Directivei UE privind restructurarea. Dacă The Law and Practice of Restructuring in the UK and US de Christopher Mallon v-a oferit cadrul teoretic fundamental, această carte oferă instrumentele practice necesare pentru a naviga situații de criză, de la invocarea clauzelor de forță majoră până la provocările legate de instabilitatea pieței în confirmarea planurilor de reorganizare.

Această lucrare reprezintă o evoluție naturală față de titlurile anterioare ale autorului, precum Expedited Corporate Debt Restructuring in the EU, extinzând spectrul de la soluții rapide la mecanisme complexe de rezoluție bancară și insolvență pentru firmele de asigurări. Structura sa monumentală, de peste 800 de pagini, permite o explorare minuțioasă a tehnicilor moderne în datoria suverană, analizând inclusiv impactul sancțiunilor și tehnica „pac-man” în contextul clauzelor de acțiune colectivă. Este un instrument indispensabil pentru înțelegerea modului în care restructurarea datoriilor poate asigura stabilitatea financiară într-un context global imprevizibil.

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Specificații

ISBN-13: 9780192848109
ISBN-10: 0192848100
Pagini: 880
Dimensiuni: 175 x 252 x 51 mm
Greutate: 1.68 kg
Ediția:3rd edition
Editura: OUP OXFORD
Colecția OUP Oxford
Locul publicării:Oxford, United Kingdom

De ce să citești această carte

Recomandăm această lucrare profesioniștilor din domeniul juridic și financiar care gestionează portofolii de datorii neperformante sau procese de insolvență transfrontalieră. Cititorul câștigă o înțelegere profundă a noilor instrumente statutare din UK și UE, precum și soluții pragmatice pentru scenarii de dificultate financiară extreme. Este resursa definitivă pentru cei care au nevoie de precizie în aplicarea legislației financiare moderne.

Despre autor

Rodrigo Olivares-Caminal este profesor la University of Warwick, specializat în dreptul insolvenței și drept financiar. Expertiza sa este recunoscută la nivel global, fiind membru în numeroase asociații internaționale de drept comercial comparat. Autorul a publicat lucrări de referință precum Expedited Corporate Debt Restructuring in the EU și Antitrust Law amidst Financial Crises, demonstrând o capacitate analitică remarcabilă în intersectarea dreptului cu mecanismele economice de criză. Contribuția sa în această ediție este susținută de co-autori de prestigiu precum Randall Guynn și Alan Kornberg, specialiști de top în jurisdicțiile SUA și UK.

Descriere

The new third edition of Debt Restructuring offers detailed legal analysis of international corporate, banking, and sovereign debt restructuring, from the perspective of creditors and debtors. It provides practical guidance to help practitioners, policy-makers, and academics in the UK and US to understand current developments in debt restructuring, and provides solutions for creditors holding distressed debt and debtor options in a distressed scenario.The Corporate Debt section includes significant changes to highlight the impact of COVID-19 on restructurings, including: potential grounds for investors/lenders to modify or terminate commitments to fund or support restructurings by invoking material adverse effect or force majeure clauses; unprecedented relief granted by insolvency courts to aid ailing retailers; and challenges facing insolvency courts in making necessary confirmation findings regarding the feasibility of reorganization plans due to market instability. This section also includes the recent adoption of the Part 26A Restructuring Plans and the EU Restructuring Directive. Amendments to the Bank Resolution section reflect decisions by the Single Resolution Board, and national authority resolution decisions notified to the European Banking Authority. A new sub-section on domestic bank insolvency and liquidation covers the developments under the Deposit Guarantee Schemes Directive, and a new chapter on insolvency law relating to Insurance Firms addresses the international debate on a special resolution regime for insurance firms. Other updates include the 2017 code of practice, the 'third country' branch model after Brexit, non-equivalence regarding depositor protection arrangements, and the Resolvability Assessment Framework.In the Sovereign Debt section, there is detailed coverage of US and UK developments, examining the increased role of sanctions and the possibility of piercing the corporate veil in SoEs (Chrystallex), as well as the increased push for domestic laws to be used to curtail litigation. It also covers developments in re-designation and the emergence of the 'pac-man technique' in the context of collective action clauses, as a result of the recent restructurings of Argentina and Ecuador. The impact of COVID-19 on the adoption of the Debt Service Suspension Initiative and the Common Framework are also analysed.

Recenzii

This book makes impressive reading ... and will prove very useful for academics and students alike, bringing together a tremendous wealth of expertise in three distinct fields of study in a single volume.
The new second edition of Debt Restructuring ... gives us a detailed legal analysis of international corporate, banking, and sovereign debt restructuring, from the perspective of both creditors and debtors so the book has quite a wide reach and is heavy on detail. The authors set out practical guidance to assist practitioners, policy-makers, researchers and academics to understand current developments in debt restructuring, and provides solutions for creditors holding distressed debt and debtor options in a distressed scenario. We feel it should be compulsory reading for public servants and members Of the judiciary, too.
This impressive volume combines the efforts of leading academics and practitioners in examining the many facets of debt restructuring. It would not be an exaggeration to state that this is a truly magisterial work, advancing our understanding of both policy and minutiae of debt restructurings.

Notă biografică

Rodrigo Olivares-Caminal is Professor in Banking and Finance Law at the Centre for Commercial Law Studies at Queen Mary University of London. Prior to joining CCLS, he was a Senior Lecturer in Financial Law and the Academic Director at the Centre for Financial and Management Studies (SOAS), University of London and the School of Law, University of Warwick. He has acted as a Sovereign Debt Expert for the United Nations Conference on Trade and Development (UNCTAD), Senior Insolvency Expert for the World Bank / IFC and as a consultant to multilateral institutions in Washington DC and Europe, Central Banks and Sovereign States. He specialises in international finance and insolvency law, and is the author/editor of seven books.Randall Guynn is co-head of the Financial Institutions Group at Davis Polk & Wardwell. He is a leading bank regulatory and M&A lawyer, and has been ranked a Star Individual in bank regulation by Chambers. He was named Banking Lawyer of the Year and Most Highly Regarded Banking Lawyer in the World by Law Business Research (2014 & 2017). He advises on financial services, including on critical transactions, business opportunities, and corporate governance issues.Alan Kornberg is co-chair of the Restructuring Department at Paul, Weiss, Rifkind, Wharton & Garrison LLP. He received his J.D. from New York University School of Law after completing his A.B. at Brandeis University, where he graduated magna cum laude.Sarah Paterson is Professor of Law at the London School of Economics, researching corporate insolvency and restructuring law. Previously, Sarah was a partner in the Restructuring and Insolvency Group of Slaughter and May, where she retains a senior consultancy. She is editor of McKnight, Paterson and Zakrzewski on the Law of International Finance and author of Corporate Reorganization Law and Forces of Change (OUP, 2020). Sarah is a member of the Council of the Insolvency Lawyers' Association, the technical committee of the Insolvency Lawyers' Association III, and the General Technical Committee of R3.Eric McLaughlin is a partner in the Financial Institutions Group at Davis Polk & Wardwell. He provides bank regulatory advice to financial institutions. He has advised clients on the Bank Holding Company Act, the National Bank Act, the Home Owners' Loan Act, and other statutes and regulations applicable to financial institutions. He also advises on capital markets and M&A transactions, as well as on compliance, enforcement, and corporate governance matters, as well as on matters relating to digital assets and distributed ledger technology.Dalvinder Singh is Professor of Law at the University of Warwick. He has been Adjunct Professor, Alma Mater Studiorum (Università di Bologna), Department of Management since 2019. His research interests are in the fields of banking supervision and cross border banking. He is the editor of the Journal of Banking Regulation and a member of the Advisory Panel of the International Association of Deposit Insurers, Switzerland.