2021 CROSS BORDER INSOLVENCY: IMPACT AND STRATEGIES (MAR)

DATES: MAR 15 - 19, 2021 
   
         
VENUE: LIVE ONLINE COURSE    apply now button  
       
TUITION: $2245    
       

 

 Overview

Inadequate cross-border insolvency policies negatively impact a country's financial and institutional stress and security. It inhibits foreign direct investment; burdens judicial systems; leads to asset outflow; and increases recovery time of financial downturns. Comprehensive legal frameworks that target domestic and international proceedings can counteract these consequences and attract investments and minimize lending risks. This one-week seminar on advanced cross-border insolvency will compare insolvency regimes, analyze model laws, discuss domestic needs and limitations, and introduce the latest developments in the field. Through this course, participants will be able to consider current and potential reforms addressing their country's bankruptcy policies.

 

Format

The seminar will be delivered through 5 live online sessions via videoconferencing platform. Each session will last approximately 3.5 hours and will start at a time to be announced closer to the seminar, but the starting time will be within a time window of 7:00 am – 8:30 am Washington DC time (Eastern Standard Time). We expect the classes to be highly interactive and will include presentations, case studies and exercises.

 

Course Outline

 

Core Principles for Insolvency

  • Fairness; transparency; accountability
  • Minimizing asset wastage
  • Maximizing recoveries by creditors
  • Minimizing loss of employment
  • Reorganizing businesses

Impact of Inadequate Domestic and Cross-Border Insolvency Laws

  • Economic Impact
  • Cross-border investment
  • Personal liability of officers and directors
  • Off-shoring of Cash Assets
  • Impact on Institutional Lending and Banking; Distress and Rescue Financing
  • Judicial Efficiency
  • Impact on fairness

Relationship between Domestic and Cross-Border Insolvency Laws

  • Stakeholders: Debtor; Banks; Trade Creditors; Employees; Insolvency Representative; Government
  • Regulators; Judiciary; other stakeholders
  • Types of Insolvency Proceedings: Liquidation; Reorganization
  • Extraterritoriality

Review of Cross-Border Insolvency Regimes

  • UNCITRAL Model Law Provisions
  • EC Regulation on Insolvency Proceedings 2015
  • Other robust country-specific laws
  • Comparison of advantages and disadvantages

Discussions on Specific Provisions and Their Impacts

  • Access
  • Application and commencement
  • Eligibility and jurisdiction
  • Commencement standards and applicable laws

Treatment of assets upon commencement

  • Assets included and excluded
  • Protection and preservation of estate
  • Use and disposal
  • Post-commencement finance
  • Treatment of contracts
  • Avoidance proceedings

Conduct of insolvency proceedings: domestic and cross-border (cross-jurisdictional asset recovery)

  • Treatment of creditor claims
  • Priorities and distribution of proceeds
  • Treatment of corporate groups
  • Judicial procedure
  • Fraud, asset tracking and recovery

Cooperation and coordination

  • Judiciaries; inter-court communications and interaction Insolvency professionals

Conclusion, discharge and closure of Insolvency Proceedings

Specific Issues

  • Forum shopping
  • Recognition and Enforcement of Insolvency-Related Judgments
  • Buying and selling creditors’ claims against debtor
  • Third party funding of litigation cross-border insolvency of multinational enterprise groups

Program will be infused with case studies and updates on international bankruptcy policies