This course focuses on the concept of insolvency (reorganisation, work-out, winding-up, bankruptcy) and the ways in which corporate insolvency is regulated by legislation or by other means of regulation, including instruments of soft law. Emphasis is placed on insolvency law in corporate practice and the effectiveness of mechanisms for dealing with cross-border insolvency, both within the European Union as on a global scale.
Recent results of cross-border collaboration will be dealt with on a general, introductory level. In addition, practical case studies will be examined, for example the EU Insolvency Regulation that came into force May 2002 and the recast of this Regulation (848/2015) that will become effective in June 2017; the United Nations Committee on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency of 1997 and its enactment in several countries around the world, including the USA (October 2005) and the UK (April 2006); the World Bank’s Principles for Effective Insolvency and Creditor/Debtor Regimes (2011); and the American Law Institute/International Insolvency Institute’s Global Principles for Cooperation in International Insolvency Cases (2012). Court cases applying the EU Insolvency Regulation will be discussed, these being mainly from the UK, Germany, France, Italy, Belgium, the Netherlands and the European Court of Justice. Furthermore the economics and dynamics of insolvency proceedings will be examined. Specifically, reconstitution of the estate using avoidance powers by the trustee and director’s liability option will be discussed.
Professor Reinout Vriesendorp, Professor of Insolvency Law at the Company Law Department and Business Studies Department, partner De Brauw Blackstone Westbroek (Amsterdam)
Professor Bob Wessels, em. Professor of International Insolvency Law, Leiden University and Scientific Fellow at the Max Planck Institute Luxembourg for International, European and Regulatory Procedural Law
Programme Coordinator LLM (Adv) International Civil and Commercial Law
Office for International Education / Leiden Law School
T: +31 (0)71 527 1228
METHOD OF INSTRUCTION
Interactive lectures and case studies.
Written exam and case study
Full degree in law granting access to the legal profession (or equivalent).