This Editorial introduces the PLC multi-jurisdictional guide to restructuring and insolvency law. For a full list of jurisdictional Q&As visit www.practicallaw.com/restructurehandbook.
The tenth edition of the PLC Cross-border Restructuring and Insolvency Handbook brings together information on current cross-border issues and country-specific Q&A guides.
The cross-border chapters focus on topical issues in the restructuring and insolvency sector. The turmoil of the financial markets in 2007 and 2008 resulted in the two major Swiss banks suffering significant loss. Against this background, we include a chapter on banking rehabilitation and insolvency reform in Switzerland. The chapter concerns the recent amendments and proposed amendments to the Swiss bank rehabilitation and insolvency regime, including proposals to regulate the "too big to fail" banks to mitigate the risk of insolvency.
The development of the Brazilian economy over the past decade has turned Brazil into one of the most attractive emerging markets for investors who have been traditionally investing in Europe, US and Asia. When deciding whether to invest in the Brazilian market, investors should be aware of several important issues. We include a chapter discussing the transactions that may be regarded as void or ineffective in the event of the other party's insolvency (for example, fraudulent transactions), the forms of security and guarantees available to offer protection, and whether foreign judgments and arbitral awards against debtors are recognised and enforced in Brazil.
The country-specific Q&A chapters provide practical information on national insolvency laws and regulations in 32 jurisdictions. The chapters focus on the most common forms of security granted over immovable and movable property; creditors' and shareholders' ranking on a company's insolvency; mechanisms to secure unpaid debts; mandatory set-off of mutual debts on insolvency; state support for distressed businesses; rescue and insolvency procedures; stakeholders' roles; liability for an insolvent company's debts; setting aside an insolvent company's pre-insolvency transactions; carrying on business during insolvency; additional finance; multinational cases; and proposals for reform.
The Q&A format provides in-house counsel doing business in a jurisdiction other than their own with easy-access summaries of the principal legal issues that they are likely to encounter.
The PLC Which lawyer? section of the Handbook identifies the recommended private practice lawyers and law firms in restructuring and insolvency law across 57 jurisdictions. This should be read alongside the Lawyer profiles section, which contains more detailed biographies of some individuals.
This Handbook is available online as part of PLC Cross-border. This is a unique online service that provides know-how and market intelligence for in-house counsel and private practitioners operating across borders. The service includes practice guidance notes, standard documents and checklists, as well as the online archive of PLC Cross-border Quarterly, featuring comparative regulatory and transaction guides, and law firm management reviews. Visit www.practicallaw.com/aboutcrossborder for more information.
Other Handbooks in the series include: Arbitration, Capital Markets, Competition, Construction and Projects, Corporate Governance and Directors' Duties, Corporate Real Estate, Data Protection, Dispute Resolution, Doing Business in…, Employee Share Plans, Environment, Finance, Insurance and Reinsurance, Investment Funds, IP in Business Transactions, Labour and Employee Benefits, Leniency, Life Sciences, Media and Communications, Mergers and Acquisitions, Outsourcing, Private Client, Private Equity, Structured Finance and Securitisation, Tax on Transactions and Venture Capital.
This Handbook has been co-published with the contributors. We would like to thank all the firms involved for their excellent contributions and their attention to deadlines.