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Publisher: University of London
Journal: IALS Student Law Review
Languages: English
Types: Article
Subjects: K1-7720, Law, Law in general. Comparative and uniform law. Jurisprudence, K
In this paper Akpareva Aruoriwo aims to evaluate the adequacy of the framework available for the financing of corporate rescues in the UK. She examines the legal provision made for prioritising creditors who get involved after an insolvency has been declared, with reference to examples from America and Canada. Without post-insolvency funding, companies may find it very difficult to survive, and without protection for post-insolvency creditors, those creditors may not wish to provide this sort of funding. The author examines the arguments for and against this kind of creditor protection, looking at past calls for reforms to the law and the preparedness of the UK to adopt any reforms.
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    • 43 Ibid.
    • 54 The Insolvency Service, 'Encouraging Company Rescue - a Consultation' (2009) proposal C, para 60
    • 09.pdf accessed 30th October 2012. 56 Ibid. 57 M Graziadei, 'Comparative Law as the Study of Transplants and Receptions' in M Reimann & R Zimmermann
    • (eds.) Oxford Handbook on Comparative Law (Oxford, 2008). 64 Ibid. 65 RJ Mokal, 'Administrative Receivership and Administration- an Analysis' in Current Legal Problems (Oxford
    • University Press, 2005) pg. 355-392. 66 J Sarra, 'Governance and Control: The Role of Debtor-in possession Financing under The CCAA @ ANNUAL
    • Review of Insolvency Law, 2004 (Carswell, 2005) pg 118- 172. 67 Department of Trade and Industry & HM Treasury, 'A Review of Company Rescue and Business Mechanisms'
    • (MAY 2000) NO 133
    • _doc_register/con_doc_archive/consultation/condoc/condocreport.htm accessed 31st October 2013.
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