Zugl.: Rostock, Universiẗat, Diss., 2008.

International Insolvency Law Key words: COMI, Insolvency regulation, insolvency, bankruptcy, forum shopping In today's globalized world, proceedings with an international element have become more and more important. This work deals with an important sector of private international law - international insolvency law. Owing to the breadth of the topic, the author has chosen to focus specifically on issues surrounding COMI (Centre of Main Interests) in the European context in conjunction with Council Regulation (EC) no. 1346/2000 on insolvency proceedings dated 29 May 2000 and its amendment in 2015. In addition to the description of the general parameters of European insolvency regulations he refers to the discussion regarding the advantages and disadvantages of COMI as the main factor for the determination of a court's jurisdiction for the initiation and conduct of insolvency proceedings with an international element, and tries to show (with references to several judgments of the European Court of Justice and national courts - among them the Czech courts) both the development of its application in practice and the development of the definition of COMI itself and criteria for assessment. In first chapters author gives the overview of theoretical grounds of the cross- border insolvency and shows the...

Yes / Liberia’s 2017 elections represented a watershed moment in the country’s political history. In addition to completing the first democratic transfer of power from one president to another since 1944, it resulted in wide representation across many different parties and independents as well as high levels of legislative turn-overs. Additionally, these polls brought forward unprecedented numbers of party reconfigurations, increased levels of defections, and politicians/parties losing abysmally in presumed ethno-regional bases. In this article, we argue that Liberia currently exists in a post-war arena of “post-party” politics where a profound disregard for parties is the norm, and in which the electorate and politicians alike forum shop for candidates and/or political configurations they presume will deliver the best results at national, sub-national and local levels. Although literature exploring electoral trends in Africa tends to over-emphasize ethno-regionalism as a driver and constraint in the choices of voters and politicians, we demonstrate instead that Liberians make relatively informed, strategic decisions about political alliances and ballot casting thereby subverting allegiances to ethnicity and region. By further eschewing party loyalties, Liberians have gradually become astute forum shoppers in a political marketplace that makes running for office and voting complex undertakings.

This thesis explores three important issues in financial distress and corporate bankruptcy: bankruptcy venue choice and creditor recovery, the efficiency of Chapter 11 corporate bankruptcy and distressed exchanges, and the bankruptcy ripple effect on peer firms’ investment policy. / Dissertation / Doctor of Philosophy (PhD) / This thesis explores three important issues in financial distress and corporate bankruptcy: bankruptcy venue choice and creditor recovery, the efficiency of Chapter 11 corporate bankruptcy and distressed exchanges, and the bankruptcy ripple effect on peer firms’ investment policy.

Yes / Liberia’s 2017 elections represented a watershed moment in the country’s political history. In addition to completing the first democratic transfer of power from one president to another since 1944, it resulted in wide representation across many different parties and independents as well as high levels of legislative turn-overs. Additionally, these polls brought forward unprecedented numbers of party reconfigurations, increased levels of defections, and politicians/parties losing abysmally in presumed ethno-regional bases. In this article, we argue that Liberia currently exists in a post-war arena of “post-party” politics where a profound disregard for parties is the norm, and in which the electorate and politicians alike forum shop for candidates and/or political configurations they presume will deliver the best results at national, sub-national and local levels. Although literature exploring electoral trends in Africa tends to over-emphasize ethno-regionalism as a driver and constraint in the choices of voters and politicians, we demonstrate instead that Liberians make relatively informed, strategic decisions about political alliances and ballot casting thereby subverting allegiances to ethnicity and region. By further eschewing party loyalties, Liberians have gradually become astute forum shoppers in a political marketplace that makes running for office and voting complex undertakings.

Cette thèse a pour objectif de convaincre de la nécessité d’introduire des règles applicables aux groupes de sociétés au sein du règlement, et d’analyser, au moyen du droit comparé, les résistances que cette position impliquent et d’en tirer les conséquences qui lui sont attachées au regard de la sécurité juridique au sein de l’Union européenne.Alors que le texte prohibe - implicitement - l’application du règlement au groupe de sociétés, le juge anglais, inspiré par un certain pragmatisme, a très vite considéré que le renversement de la présomption en faveur du siège social statutaire des filiales permettrait la centralisation des procédures principales au sein d’un seul État membre pour le traitement unitaire des difficultés des groupes de sociétés (« la jurisprudence Daisytek »). La Cour de justice de l’Union européenne a dans son célèbre arrêt Eurofood tenté de limiter les interprétations extensives des critères de compétence dont les juridictions nationales s’étaient vite accommodées. Les jurisprudences nationales se sont ensuite diversifiées. Si certains juges ont accordé un poids déterminant à la présence d’une activité dans l’État membre sur le territoire duquel est situé le siège social statutaire des sociétés membres d’un groupe, d’autres juges ont tout simplement résisté à l’arrêt Eurofood. Examinant ensuite les propositions des institutions européennes visant à modifier le règlement 1346/2000, cette thèse souligne la volonté des autorités européennes d’insérer des règles applicables aux groupes de sociétés pour la mise en oeuvre du règlement. Au terme de cette étude de droit comparé, des solutions sont proposées pour favoriser un traitement transfrontière efficace des difficultés au sein d’un groupe de société tout en garantissant la sécurité juridique des tiers au sein de l’Union européenne. / On 12 December 2012, the European Commission published its proposals for the revision of the Insolvency Regulation which were followed by a draft Legislative Resolution from the European Parliament (20th December 2013). While these proposals’ main objective is to create a specific legal framework for corporate group insolvencies, this thesis aims to demonstrate that they are unlikely to achieve their goal because of the requirement of legal certainty requirement within the EU.Adopted on 29 May 2000, the Council Regulation (EC) No 1346/2000 on insolvency proceedings (the « Insolvency Regulation ») aims at establishing a uniform set of private international law rules on insolvency proceedings having cross-border effects within the EU. Since its entry into force (31 May 2002), its application by national courts has created debate, in particular with regard to its application to corporate groups. In order to maximise the value of groups’ assets or to achieve a global restructuration of groups, the national courts broadened the scope of the Insolvency Regulation by an extensive interpretation of the centre of main interest (« COMI ») criterion. In such a context, the Court of Justice of the European Union (« CJEU ») reinforced the rule that each legal entity should be treated separately (in its 2006 Eurofood case).However, the CJEU’s ruling did not solve the legal issues that national courts were facing when applying the Insolvency Regulation in respect of corporate groups insolvencies.In spite of the fact that the creation of rules for groups of companies has always raised complex legal (and political) issues, the European’s proposals constitute surely a solid basis for discussion and a great opportunity for European academics and practitioners to make their voices heard as well as to propose further amendments to the current Insolvency Regulation. This thesis aims to demonstrate that several issues are unresolved with regard to the whole structure of the revised Insolvency Regulation (e.g. no specific definition of COMI with regard to corporate groups) as well as with regard to the special regime introduced for corporate groups (e.g. no clear choice on the coordination system to be favoured for insolvent groups of companies).

La division du monde en États souverains favorise les stratégies des justiciables souhaitant bénéficier d’une législation conforme à leurs aspirations. Ces pratiques sont qualifiées de forum shopping et de law shopping. Les sujets de droit sont alors assimilés à des consommateurs, et le droit est alors réduit à un simple produit « commercialisé » par les différents ordres juridiques. Ces pratiques reposent sur la place grandissante accordée à la personne qui, compte tenu de la mondialisation, devient de plus en plus mobile. Les ordres juridiques nationaux sont alors placés en concurrence et encourent le risque de voir leurs législations les plus impératives évincées. En outre, le marché global de la justice favorise les manoeuvres les plus déloyales.Pour autant, ces pratiques ne font l’objet d’aucune réglementation spécifique. Le droit international privé doit donc trouver les remèdes permettant de contrôler l’exercice du forum shopping et du law shopping pour moraliser le contentieux international et préserver les intérêts étatiques. / The world division into sovereign states encourages persons answerable to the law to usestrategies as they seek to benefit from legislations consistent with their aspirations. These practices are called forum shopping and law shopping. Subjects of law are therefore compared to consumers when the law is reduced to a simple product « marketed » by different national legal orders. These practices take root in the ever growing space the subject of law is given, considering how much mobile they are becoming along with globalization. Consequently,national legal orders are competing against each other with the risk of seeing their most imperative legislation being ousted. Furthermore, world trade of justice fosters the most dishonest maneuvers. Meanwhile, these practices aren’t subjected to any specific regulation. Private international law must find the solutions that would allow control over exercising forum shopping and law shopping in order to reform international litigation and preserve state interests.

The present thesis is concerned with private international law for corporate and insolvency disputes in the context of freedom of establishment. First, it presents the traditional rules of conflict applicable to corporate disputes that have been implemented in some major jurisdictions. Second, it analyses the relevant leading judgments of the European Court of Justice and it demonstrates the way in which, contrary to popular belief, the real seat theory has not been held contrary to freedom of establishment. The thesis then deals with the concept of letter-box companies and examines the limitations that are being placed to the use of freedom of establishment. This is followed by a juxtaposition of the factors that have lead and could lead to regulatory competition for corporate law in the USA and the EU respectively. A modest approach is taken towards the possibility of the latter occurring in the EU. Third, the thesis examines the treatment of insolency disputes in this context. A substantial part of it is dedicated to the definition of the basis for international jurisdiction for the opening of insolvency proceedings, namely the centre of main interests. It argues in favour of an objective test for the identification of the centre of main interests (COMI) and the allocations of certain burdens on both the debtor and the creditors. It then focuses on the treatment of forum shopping in the context on international insolvencies. Based on considerations of consent and economic efficiency, it suggests a definition, according to which certain transfers of the COMI should not amount to forum shopping. Finally, the thesis examines the possibility of a regulatory competition for insolvencies in the EU and seeks to demonstrate that the conditions for such a competition are more analogous between US corporate law and EU insolvency, rather than company, law.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2016-08-22T19:26:32Z No. of bitstreams: 1 Vanessa de Oliveira Bernardi_.pdf: 856516 bytes, checksum: af8c7978683b7dce5f35c4a6b769a1d5 (MD5) / Made available in DSpace on 2016-08-22T19:26:33Z (GMT). No. of bitstreams: 1 Vanessa de Oliveira Bernardi_.pdf: 856516 bytes, checksum: af8c7978683b7dce5f35c4a6b769a1d5 (MD5) Previous issue date: 2016-06-27 / Nenhuma / Diante da concorrência de jurisdição entre dois ou mais países herdadas das facilidades advindas da globalização, o presente trabalho possui o objetivo de responder, principalmente a dois questionamentos: a) é possível à adoção da doutrina do forum non conveniens como um princípio comum a fim de harmonizar as normas de processo civil e evitar a ocorrência da litispendência internacional e do forum shopping; b) até que ponto o Instituto Internacional para Unificação do Direito Privado (UNIDROIT) e a Conferência de Haia sobre Direito Internacional Privado (HCCH), principais órgãos unificadores processuais, são adequados para, ao mesmo tempo, garantir um pluralismo jurídico e assegurar uma aproximação entre os diferentes sistemas. Assim, o estudo apresenta a teoria do pluralismo ordenado proposta pela jurista francesa Mireille Delmas-Marty, onde destaca-se a noção de mundialização do Direito e um certo número de técnicas para a coordenação de diferentes sistemas legais, tais como a Coordenação por entrecruzamento, da Harmonização por Aproximação e da Unificação por Hibridação. Num segundo momento, serão abordados os dois principais problemas decorrentes da concorrência de jurisdição; o forum shopping e a litispendência internacional. Ao final, serão estudados dois órgãos de unificação do Direito Internacional Privado, o UNIDROIT e a HCCH com a finalidade de averiguar se o método de trabalho utilizado pelos órgãos respeita a pluralidade jurídica existente. Por último, estudar-se-á a doutrina do forum non conveniens, a fim de analisar a possibilidade de inserção desta como um meio de harmonizar as normas processuais, abordando-se, também as alterações propostas à doutrina pela House of Lords Inglesa, a qual demonstra uma maior possibilidade de ser adotada como um princípio comum, avaliando-se se esta seria capaz de respeitar o pluralismo jurídico existente. A metodologia utilizada neste trabalho foi de natureza qualitativa, utilizando-se principalmente um levantamento bibliográfico, de jurisprudências nacionais e a análise de casos provenientes do sistema jurídico do common law. / Considering the competing jurisdiction of two or more countries arising from the conveniences brought by globalization, the present research is intended to answer mainly two questions: (i) it is possible to adopt the forum non conveniens doctrine as a common principle to harmonize the rules of civil procedure and prevent the occurrence of international lis pendens and forum shopping; (ii) to which extent the International Institute for the Unification of Private Law (UNIDROIT) and the Hague Conferences on Private International Law (HCCH), the two major procedural unifying institutions, are suitable to ensure legal pluralism and bring different systems closer at the same time. Thus, firstly the study presents the ‘ordered pluralism theory’ proposed by the French jurist Mireille Delmas-Marty, which comprises the idea legal internationalization and a number of techniques for coordinating differing legal systems such as ‘inter-crossing’, ‘harmonization through proximity’ and ‘unification through hybridization’. Subsequently, the two main problems arising from competing jurisdiction – forum shopping and the international lis pendens – will be addressed. Then, the two unification institutions of private international law before mentioned – UNIDROIT and HCCH – will be studied to determine whether the working method used by such bodies respect the existing legal pluralism. At the end, the doctrine of forum non conveniens will be discussed so that the possibility of including it as a means of harmonizing the existing procedural rules is examined. For this matter, the alterations proposed by the English House of Lords will be assessed in order to confirm that they respect the existing legal pluralism, as they indicate a greater chance for the forum non conveniens doctrine being adopted as a common principle. The methodology used in this research is of a qualitative nature, mainly basing itself on specialized literature, national jurisprudence and on common law case studies.

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