Vulnerable Transactions in Corporate Insolvency

(Hardback)

Publishing Details

Classifications

Physical Properties

Description

This text examines powers and remedies available to a liquidator or administrator that render "vulnerable" the company's prior contractual commitments or proprietary dispositions so as to enhance the asset pool available to creditors. In the process, it does two things. First, it offers comprehensive accounts of the relevant causes of action: undervalue transactions, preferences, late floating charges, unregistered charges, transactions defrauding creditors, gratuitous corporate transactions and post-petition dispositions in liquidation. Secondly, it seeks to raise issues about the context and purpose of these causes of action. These are considered through a discussion of their relationship to the pari passu principle; a restitutionary analysis of the remedial provisions; and issues arising specifically in cross-border and international insolvency proceedings. The book is thus a source of reference both for insolvency litigators and for transactional lawyers seeking advice on potential vulnerability. The thematic approach and rigorous analysis should also make it of interest to an academic readership.

Reviews

The standards of production match the excellence of the text in this impressive work. Both the publisher and editors can reflect with pride on their work. -- David Milman * Insolvency Lawyer *

Author Bio

John Armour is a Senior Research Fellow at the Centre for Business Research in Cambridge University. Howard Bennett is Hind Professor of Commercial Law at the University of Nottingham.