This tool enables subscribers to search the Country Q&A in the PLC Cross-border Restructuring and Insolvency Handbook by question and jurisdiction. Simply select the questions and the jurisdictions that you are interested in and click the "submit" button.
Please note that the law stated dates for each jurisdiction covered may not be the same. To check the law stated dates for each jurisdiction, please visit the individual article.
What is its objective and, where relevant, what are the prospects for recovery?
How is it initiated, when, by whom and whom and which companies can it be applied to?
Can the company obtain any protection from its creditors during the procedure?
What substantive tests apply?
How long does it take?
What consents and approvals are required?
Who supervises the procedure and controls the company's affairs (for example, an independent accountant or the court)?
How does it affect the company, shareholders, employees, trading partners and creditors?
How is the procedure formally concluded and what happens to the company on conclusion?
Who can challenge these transactions, when and in what circumstances?
Are third parties' rights affected?
Who has the authority to supervise or carry on the company's business?
What restrictions apply?
Do local courts recognise insolvency and rescue procedures in other jurisdictions, and court judgments made during these procedures? Is recognition given under specific legislation or under case law (for example, principles of comity)?
Do courts co-operate where there are concurrent proceedings in other jurisdictions?
Is your jurisdiction party to any international treaties, model laws or EU legislation (if applicable)?
Are there any special procedures that foreign creditors must comply with when submitting claims in local insolvency proceedings?