The Persistent and Pernicious Abuse of Insolvency Law: What’s Next after Virgin Atlantic?

Image by skeeze Dr. Eugenio Vaccari, Lecturer in Law, University of Essex England is no stranger to strategic or – at times – abusive use of insolvency provisions. In the early 2000s, a mechanism frequently used by debtors to retain the control of distressed companies at the expense of their creditors was pre-packaged administration. Following … Continue reading The Persistent and Pernicious Abuse of Insolvency Law: What’s Next after Virgin Atlantic?

The Crown Preference is Law (Again): Spinning the Clock Back to Early-2000s?

Image by Steve Buissinne Dr. Eugenio Vaccari, Lecturer in Law, University of Essex The Pari Passu Principle In corporate insolvency procedures, not all creditors are alike. This is despite the pari passu principle. The pari passu principle is often said to be a fundamental rule of any corporate insolvency law system. It holds that, when … Continue reading The Crown Preference is Law (Again): Spinning the Clock Back to Early-2000s?

The New Corporate Insolvency and Governance Act 2020 – An Extraordinary Act for Extraordinary Times? A Quick Look at the Act’s Time-Restricted Measures

Image by Elliot Alderson Dr. Eugenio Vaccari, Lecturer in Law, University of Essex I. The Corporate Insolvency and Governance Act 2020 On 25 June 2020, the Corporate Insolvency and Governance Act 2020 (‘the Act’) completed its progress in the Parliament and received Royal Assent. The Act has unanimously been hailed by the insolvency community as … Continue reading The New Corporate Insolvency and Governance Act 2020 – An Extraordinary Act for Extraordinary Times? A Quick Look at the Act’s Time-Restricted Measures

The New Corporate Insolvency and Governance Act 2020 – An Extraordinary Act for Extraordinary Times? A Quick Look at the Act’s Long-Term Statutory Reforms

Image by Markus Winkler Dr. Eugenio Vaccari, Lecturer in Law, University of Essex I. The Corporate Insolvency and Governance Act 2020 On 25 June 2020, the Corporate Insolvency and Governance Act 2020 (‘the Act’) completed its progress in the Parliament and received Royal Assent. The Act has unanimously been hailed by the insolvency community as … Continue reading The New Corporate Insolvency and Governance Act 2020 – An Extraordinary Act for Extraordinary Times? A Quick Look at the Act’s Long-Term Statutory Reforms

Is (More) Fairness Needed in the English Insolvency Framework?

Image by Sasin Tipchai Dr. Eugenio Vaccari, Lecturer in Law, University of Essex recently published an article in the Journal of International Banking Law and Regulation (Volume 35, Issue 4, pp. 135-147). The publication, titled ‘Broken companies or broken system? Charting the English insolvency valuation framework in search for fairness’, adopts a normative approach to … Continue reading Is (More) Fairness Needed in the English Insolvency Framework?