Group of companies: common solutions for common problems. A comparative perspective
Lorenzo Benedetti , Lucilla Galanti , Rúben Jesus , Joanna Kruczalak-Jankowska , Anna Machnikowska , Monika Maśnicka
AbstractCorporate groups regardless of their structure are a common phenomenon in conducting business activity, therefore there was a need to address the problem of insolvency of such groups by legislators. The following paper presents regulations regarding corporate insolvency provided in both supranational acts (UNCITRAL Legislative Guide on Insolvency, EU Regulation 2015/848 on insolvency proceeding and European Law Institute recommendations), as well as in national laws of four EU Member States – Italy, the Netherlands, Poland and Portugal. As the study shows, each of the above mentioned countries allows conducting insolvency proceedings with respect to corporate groups, however there are some differences as to its basis (legal acts or legal practise), scope (coordination, procedural consolidation or substantial consolidation) and implementation (court jurisdiction and appointment of supervisory judges or insolvency practitioners). In the paper we compare the regulations adopted by said states and point some obstacles for effective proceedings. Although we find some differences, most of the solutions are similar, as they allow consolidation or coordination of cases, and they are in line with the European law on insolvency.
|Journal series||European Business Organization Law Review, ISSN 1566-7529, e-ISSN 1741-6205, (N/A 70 pkt)|
|Publication size in sheets||1.45|
|Keywords in English||corporate insolvency, Group insolvency, Italy, the Netherlands, Poland, Portugal|
|ASJC Classification||; ;|
|Score||= 70.0, 28-01-2020, ArticleFromJournal|
|Publication indicators||: 2018 = 0.817; : 2017 = 0.723 (2) - 2017=0.832 (5)|
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