Cross Border Insolvency: Order Out of Chaos
Benefits
After completing all training podcasts in this bundle you will:
- Understand the cross-border insolvency regime operating within the EU and how it fits within the UK’s system
- Understand what implications the US Chapter 11 Code has for insolvency professionals in the UK
- Understand the differences between Chapter 11 and the UK's insolvency procedures
- Know about the successes and failures of attempts to harmonise insolvency law across the European Union
- Be aware of the trend towards out of court restructuring across Europe and what options are available in an insolvency situation
Training Bundle Overview
Are you interested in cross-border restructuring in the EU? Listen to our selection of BSB and SRA accredited CPDcasts providing you with in-depth analyses of the regimes involved to help you navigate clients to the best solution.
- CPD Points:
- This bundle can provide up to 8 points details »
- Price:
- £325 (includes unlimited access until the end of 2013!)
- Suitable for:
- Solicitors
- Barristers
- Insolvency Practitioners
- Practice Area:
- European Law
- Insolvency & Restructuring
- Contributors:
What is a CPDcast Bundle?
CPDcast training bundles contain a hand-picked selection of our CPDcasts that together will provide you with a discrete in-depth analysis of specific legal developments from scrutiny of the statutes and case law to practical application.
Contents
Cross Border Insolvency contains the following CPDcasts:
- with Ben Griffiths from Erskine Chambers
This podcast is aimed at practitioners or all levels wanting to learn about the European regime in relation to cross border insolvencies under the relevant EC Regulation.
After completing this course you will:
- Understand the applicable regime for cross border insolvencies within the EU;
- Understand the key factors in determining where insolvency proceedings can be commenced in cross border cases;
- Understand the concept of the centre of main interest and its significance;
- Understand the difference between main proceedings, secondary proceedings and territorial proceedings in cross border insolvencies within the EU.
- with Ben Griffiths from Erskine Chambers
This podcast explains the international cross border insolvency regime and how the English courts will apply it and is aimed at insolvency practitioners or those with an interest in the area.
After completing this course you will:
- Understand the key provisions of the UK Cross Border Insolvency Regulations 2006;
- Understand when the Regulations will apply to cross border insolvencies;
- Understand the aims behind the UNCITRAL Model Law;
- Know when insolvency proceedings commenced in a foreign jurisdiction will be recognised in the English courts.
- with Ben Griffiths from Erskine Chambers
This podcast explains the international cross border insolvency regime and how the English courts will apply it and is aimed at insolvency practitioners or those with an interest in the area.
After completing this course you will:
- Understand the consequences of recognition of foreign insolvency proceedings by the English courts;
- Understand the procedure for making an application for recognition of foreign insolvency proceedings;
- Understand how section 426 of the Insolvency Act 1986 fits in the cross border insolvency regime under the 2006 Regulations;
- Understand how the courts will exercise their discretion under section 426 of the Insolvency Act 1986.
- with Elspeth Talbot Rice QC and Edward Cumming from XXIV Old Buildings
This podcast aims to flag up the difficulties experienced by administrators and liquidators when managing the affairs and property of a company who’s assets are based overseas. It will look at the issue posed by aggressive creditors in foreign countries and how they might be restrained to ensure an orderly winding down of the company’s affairs.
After completing this course you will:
- Understand the function of the moratorium against a company in administration or liquidation;
- Understand the role of a liquidator or administrator;
- Be aware of the rationale behind the moratorium in either scenario;
- Understand the jurisdiction of the court to grant an injunction to restrain the actions of a creditor against the company in distress;
- Understand the circumstances in which an injunction to restrain a creditor in a foreign country will be appropriate;
- Understand the approach the court’s take to injuncting actions overseas;
- Be aware of the distinction between European proceedings and non-European proceedings.
- with Lynn Hiestand from Skadden
This podcast gives an overview of the Chapter 11 regime in the US and looks at the differences between the US and UK approaches to restructuring a company. It explains the terms that are used in relation to a Chapter 11 administration. It also looks at when a company must file a Chapter 11 and the obligations and restrictions on a company during Chapter 11.
After completing this course you will:
- Be aware of the US Chapter 11 procedure;
- Understand the difference between the US and UK approaches to restructuring a company;
- Know the jargon associated with a Chapter 11 filing;
- Know when a Chapter 11 would be appropriate;
- Appreciate the restrictions and obligations on a company during the Chapter 11 process.
- with Lynn Hiestand from Skadden
This podcast looks at the key parties to a Chapter 11 proceeding, the order of priority creditors take in a Chapter 11 administration and the concept of DIP financing. It looks at the exit route from Chapter 11. The podcast also explores international administration regimes and compares them to the Chapter 11 process.
After completing this course you will:
- Know the key parties for a Chapter 11;
- Be aware of the order of priority creditors take;
- Understand the concept of DIP financing;
- Be aware of the exit route from Chapter 11;
- Appreciate the range of insolvency regimes in other jurisdictions.
- with James Roome from Bingham McCutchen
This podcast aims to give the listener an overview of the current European restructuring model and looks at the incentives for out-of-court restructurings. It focuses on the new insolvency procedures in Europe and the trend for out-of-court actions before examining the balance between the two and the obstacles to out-of-court restructurings. the podcast concludes with a look at the different regimes in Europe.
After completing this course you will:
- Appreciate the origins of the current European restructuring and insolvency legislation;
- Know the recent legislative reforms in Europe;
- Be aware of the incentives for an out-of-court restructuring;
- Know the current out-of-court trends;
- Recognise the obstacles to an out-of-court restructuring;
- Appreciate the contrast between the US and European approaches to this area.
- with David Marks QC from South Square
This podcast aims to give the listener an update on the latest developments in the harmonisation of EU insolvency law. It looks at the benefits and pitfalls of a cross-borer insolvency regime before discussing the INSOL Europe report. In particular, the podcast focuses on key areas such as the differences between member states with regard to opening an insolvency proceeding, the ranking of creditors, the process of filing and verifying claims and annulment and clawback. The podcast concludes with a discussion on the areas least and most appropriate for harmonisation in the EU.
After completing this course you will:
- Appreciate the benefits of a cross-border insolvency regime;
- Be aware of the issues discussed in the INSOL Europe report;
- Know the differences in the opening and management of insolvency proceedings in the different member states;
- Understand issues raised by the creditor ranking in different member states;
- Be aware of the effect of the various other differences in the insolvency regimes of the EU member states;
- Appreciate the biggest obstacles to harmonising insolvency law;
- Know the most appropriate areas for harmonisation.
Contributors
Cross Border Insolvency features the following legal experts:
Cumming, Edward (XXIV Old Buildings)
Edward has a broad practice, welcoming instructions in all areas of chancery and commercial work.
He frequently appears in trials before the High Court, County Courts and other tribunals and also has extensive experience of interlocutory hearings as well as hearings of petitions and other applications. He is regularly asked to give advice, both orally and in writing, to settle pleadings and to draft other documents as part of his busy practice.
Griffiths, Ben (Erskine Chambers)
Ben Griffiths has practiced from Erskine Chambers since completing his pupillage. Ben has a broad practice in company law and corporate insolvency and appears in the High Court and County Court on litigation in the company law, insolvency and commercial litigation fields. He has experience of winding up petitions, both opposed and unopposed, and all elements of the conduct of liquidations and other insolvency procedures.
Ben has also advised on a wide range of company law disputes, from shareholder disputes to claims for breach of fiduciary duty. He has also started to make headway into the corporate advisory field and is building experience in that area.
Hiestand, Lynn (Skadden)
Lynn Hiestand is the co-head of the European Corporate Restructuring group at leading bankrupcy law firm Skadden. Lynn has over 25 years experience in advising clients on distressed M&A and complex cross-border financial restructurings. She has been involved in a number of significant cases in this area including Delphi Corporation, Refco Inc., Eurotunnel and Lehman Brothers Holdings Inc., to name a few. Lynn is ranked by all the major legal directories as a leader and pioneer amongst restructuring and insolvency lawyers.
Marks QC, David (South Square)
David Marks QC is a barrister at the premier insolvency set 3-4 South Square where he advises clients on both international and domestic insolvencies, fraud, company law and commercial litigation. He has been involved with all the major insolvencies that have taken place over the last 20 years, where he has acted for clients ranging from state bodies and high net worth individuals to hedge funds and FTSE listed corporations. Mr Marks was appointed Queen’s Counsel in 2009 and is admitted to practice in the United States and Ireland in addition to England and Wales.
Roome, James (Bingham McCutchen )
James Roome is managing partner at Bingham's London office and co-chairs the firm's global restructuring team. James specialises in cross-border insolvencies and restructurings. He handles litigation in this field and has acted on numerous high-profile and international matters. James also represents lenders in LBO restructurings and acts for clients on distressed M&A transactions and restructuring distressed bonds and notes. He is admitted as a solicitor in both Hong Kong and England & Wales and is a licensed insolvency practitioner.
Talbot Rice QC, Elspeth (XXIV Old Buildings)
“A fantastic all rounder", "an extremely forceful and accomplished advocate" Chambers & Partners (2009).
Elspeth's recent cases include resisting an English liquidator's application for an anti suit injunction against a German creditor in relation to maritime proceedings in New York, representing a hedge fund in the BVI in relation to issues arising out of redemptions and whether a redeming shareholder had the right to wind up the hedge fund and leading multi-jurisdictional litigation to recover substantial trust assets which moved through a number of counties before ending up (in part) in, and being sucessfully recovered in, the USA.
She acted for the RSPCA in the very high profile Gill v RSPCA disputed will/proprietary estoppel case, for the children in the well publicised Sherrington disputed will case and for the sculpture-owner in the high profile claim against a well known fine arts logistic and storage company for loss of a valuable Anish Kapoor sculpture.
