Insolvency within Multinational Enterprise Groups
Wydawnictwo: Oxford University Press
In order to deal with this issue the work provides a theoretical framework, suggesting a balance between Entity-Enterprise issues (drawn from company law theory and the problem of enterprise groups) and Universality-Territoriality issues (drawn from cross-border insolvency and conflict of laws theory). This is further assisted by a taxonomy describing prototypical scenarios of MEGs and their insolvency.
The theoretical framework and prototypical scenarios are the basis for critical analysis of various tools for 'linking' between different components of MEGs in the course of their insolvency and the degree to which they fit with a series of insolvency goals.
The book suggests a clear model for dealing with insolvency within MEGs which can be used not only within the current cross-border insolvency frameworks (e.g., UNCITRAL Model Law, EC Regulation) but also as a definitive guideline for future reform.
It argues that a global group-wide perspective for MEG insolvencies is desirable if applied in appropriate types of cases and if it does not unduly defeat entity law and territoriality concerns.