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International Contributions to the Reform of Chapter 11 U.S. Bankruptcy Code

International Contributions to the Reform of Chapter 11 U.S. Bankruptcy Code
  • Year of publication 2015
  • 320 pages
Editor:Bob Wessels and Rolef de Weijs
Series:European and International Insolvency Law Studies (volume 2)
Category: Law Business and Commercial Law
Icon_printbook 978‐94‐6236‐606‐0 | hardcover | 1st edition | € 81.50 / $ 103.27 / £ 81.09
Icon_ebook 978‐94‐6274‐385‐4 | ebook | € 77.99 / $ 105.28 / £ 82.66

Chapter 11 U.S. Bankruptcy Code has served the US economy for over 35 years in providing possibilities for reorganizing failing companies. Since its inception in 1978, Chapter 11 has also functioned as a source of inspiration for other countries, all over the world. At a global level, there is now a strong convergence towards a more rescue oriented approach to business failure. After 35 years, Chapter 11 itself is up for a structural reform. This book is the result of a truly global collaboration of leading practitioners and academics from thirteen jurisdictions to provide a comparative law input on the current initiative of the American Bankruptcy Institute (ABI) to reform Chapter 11 U.S. Bankruptcy Code. Because of the targeted approach of answering specific questions formulated by ABI from the viewpoint of the selected jurisdictions, the book contains a structured and in depth overview of different legal systems on specific topics not to be found elsewhere.

The book details how recurrent topics in any reorganization procedure are dealt with, most notably governance in insolvency, financing of companies in a reorganisation procedure (DIP-finance), the use of surcharges in sales of encumbered assets, the status of IP licences in insolvency, claims trading and rules on adopting a reorganization plan. The book thereby provides a unique insight into the current state of affairs of reorganization laws across the globe. Contributions are included from Austria, Australia, Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, PR of China, South Africa and Spain. Furthermore, a highly accessible overview of the current revision process of Chapter 11 is included.

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Target group

Practitioners and academics in the field of insolvency.

Author's information

Bob Wessels is an independent legal counsel, advisor, and arbitrator. He is emeritus professor of International Insolvency Law, University of Leiden, Leiden Law School, the Netherlands. 

Rolef de Weijs is Professor of National and International Insolvency Law at the University of Amsterdam, the Netherlands, visiting professor at Riga Graduate School of Law (Latvia), chair of the INSOL Europe Young Academic Network for Insolvency Lawyers (YANIL), and associate at the law firm Houthoff Buruma, Amsterdam.