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Insolvency Regulation (EC) 1346 2000
The Insolvency Regulation is an EU Regulation concerning the rules of jurisdiction for opening insolvency proceedings in the European Union. It determines which member states' courts have jurisdiction. History EU member states concluded the Convention on Insolvency Proceedings in 1995, however it never entered into force as ratification by all member states was required and the United Kingdom did not sign within the timelines specified in the Convention. Content The EC Regulation on Insolvency Proceedings 2000 was passed on 29 May 2000 and came into effect on 31 May 2002. It replaced the substance of the 1995 Convention. The Regulation applies between all member states of the European Union, with the exception of Denmark which has an opt-out from the EU's Area of freedom, security and justice, and focuses upon creating a framework for the commencement of proceedings and for the automatic recognition and co-operation between the different member states. Unusually for a European ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EU Regulation
A regulation is a legal act of the European Union which becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law. Regulations can be adopted by means of a variety of legislative procedures depending on their subject matter. Despite their name, Regulations are primary legislation rather than regulatory delegated legislation; as such, they are often described as "Acts" (e.g. the Digital Services Act). Description The description of regulations can be found in Article 288 of the Treaty on the Functioning of the European Union (formerly Article 249 TEC). Article 288 To exercise the Union's competences, the institutions shall adopt regulations, directives, decisions, recommendations and opinions. A regulation shall have general application. It shall be binding in its entirety and directly applicable in all Member States. A directive shall be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UNCITRAL Model Law On Cross-Border Insolvency
The UNCITRAL Model Law on Cross-Border Insolvency was a model law issued by the secretariat of UNCITRAL on 30 May 1997 to assist states in relation to the regulation of corporate insolvency and financial distress involving companies which have assets or creditors in more than one state. At present 23 jurisdictions have substantially adopted the Model Law. Purpose The to the Model Law provides: The Model Law is designed to provide a model framework to encourage cooperation and coordination between jurisdictions. Despite earlier proposals to do so, it does not attempt to unify substantive insolvency laws, and the Model Law respects the differences among the substantive and procedural laws of states. The Model Law defines a cross-border insolvency is one where the insolvent debtor has assets in more than one state, or where some of the creditors of the debtor are not from the state where the insolvency proceeding is taking place. UNCITRAL published the Model Law in respons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While Bankruptcy in the United Kingdom, UK bankruptcy law concerns the rules for natural persons, the term ''insolvency'' is generally used for companies formed under the Companies Act 2006. ''Insolvency'' means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is liquidated, meaning that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (SI 1986/1925, replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 (SI 2016/1024) – see #Cha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cross-border Insolvency
Cross-border insolvency (sometimes called international insolvency) regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country. Typically, cross-border insolvency is more concerned with the insolvency of companies that operate in more than one country rather than bankruptcy of individuals. Like traditional conflict of laws rules, cross-border insolvency focuses upon three areas: choice of law rules, jurisdiction rules and enforcement of judgment rules. However, in relation to insolvency, the principal focus tends to be the recognition of foreign insolvency officials and their powers. Theories of cross-border insolvency There are, broadly, three approaches to the administration of cross-border insolvency: * The territorial approach, whereby each country exercises its own domestic insolvency laws in relation to all the debtor's property and all of the creditors located within its jurisdiction. This approach does ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Court Of Justice
The European Court of Justice (ECJ), officially the Court of Justice (), is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Union, it is tasked with interpreting EU law and ensuring its uniform application across all EU member states under Article 263 of the Treaty of the Functioning of the European Union (TFEU). The Court was established in 1952, and is based in Luxembourg. It is composed of one judge per Member State – currently – although it normally hears cases in panels of three, five or fifteen judges. The Court has been led by president Koen Lenaerts since 2015. The ECJ is the highest court of the European Union in matters of Union law, but not national law. It is not possible to appeal against the decisions of national courts in the ECJ, but rather national courts refer questions of EU law to the ECJ. However, it is ultimately for the national court to apply the resulting interpre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rebuttal
In law, rebuttal is a form of evidence that is presented to contradict or nullify other evidence that has been presented by an adverse party. By analogy the same term is used in politics and public affairs to refer to the informal process by which statements, designed to refute or negate specific arguments (see Counterclaim) put forward by opponents, are deployed in the media. In law, special rules apply to rebuttal; rebuttal evidence or rebuttal witnesses must be confined solely to the subject matter of the evidence rebutted. New evidence on other subjects may not be brought in rebuttal. However, rebuttal is one of the few vehicles whereby a party may introduce surprise evidence or witnesses. The basic process is as follows: both sides of a controversy are obliged to declare in advance of trial what witnesses they plan to call, and what each witness is expected to testify to. When either a plaintiff (or prosecutor) or defendant brings direct evidence or testimony Testimo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Presumption (law)
In law, a presumption is an "inference of a particular fact". There are two types of presumptions: rebuttable presumptions and irrebuttable (or conclusive) presumptions. A rebuttable presumption will either shift the burden of production (requiring the disadvantaged party to produce some evidence to the contrary) or the burden of proof (requiring the disadvantaged party to show the presumption is wrong); in short, a fact finder can reject a rebuttable presumption based on other evidence. Conversely, a conclusive/irrebuttable presumption cannot be challenged by contradictory facts or evidence. Sometimes, a presumption must be triggered by a predicate fact—that is, the fact must be found before the presumption applies. History The ancient Jewish law code, the Talmud, included reasoning from presumptions (''hazakah''), propositions taken to be true unless there was reason to believe otherwise, such as "One does not ordinarily pay a debt before term." The same concept was found ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e., by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue share capital, stock, or whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this articl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Area Of Freedom, Security And Justice
The area of freedom, security and justice (AFSJ) of the European Union (EU) is a policy domain concerning home affairs and migration, justice as well as fundamental rights, developed to address the challenges posed to internal security by collateral effects of the free movement of people and goods in the absence of border controls or customs inspection throughout the Schengen Area, as well as to safeguard adherence to the common European values through ensuring that the fundamental rights of people are respected across the EU. Scope Over the years, the EU has developed a wide competence in the area of home affairs and migration, fundamental rights and justice. As internal borders have been removed within the EU, cross-border police cooperation has increased to counter cross-border crime. Some notable projects related to the area are the European Arrest Warrant, the Schengen Area and Frontex patrols. Fields covered include the harmonisation of private international law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opt-outs In The European Union
In general, the law of the European Union is valid in all of the twenty-seven European Union member states. However, occasionally member states negotiate certain opt-outs from legislation or treaties of the European Union, meaning they do not have to participate in certain policy areas. Currently, three states have such opt-outs: Denmark ( two opt-outs), Ireland (two opt-outs) and Poland (one opt-out). The United Kingdom had four opt-outs before leaving the Union. This is distinct from the enhanced cooperation, a measure introduced in the Treaty of Amsterdam, whereby a minimum of nine member states are allowed to co-operate within the structure of the European Union without involving other member states, after the European Commission and a qualified majority have approved the measure. It is further distinct from the Mechanism for Cooperation and Verification, whose lifting is conditional on the relevant member states meeting certain benchmarks, and temporary derogations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denmark
Denmark is a Nordic countries, Nordic country in Northern Europe. It is the metropole and most populous constituent of the Kingdom of Denmark,, . also known as the Danish Realm, a constitutionally unitary state that includes the Autonomous administrative division, autonomous territories of the Faroe Islands and Greenland in the north Atlantic Ocean.* * * Metropolitan Denmark, also called "continental Denmark" or "Denmark proper", consists of the northern Jutland peninsula and an archipelago of 406 islands. It is the southernmost of the Scandinavian countries, lying southwest of Sweden, south of Norway, and north of Germany, with which it shares a short border. Denmark proper is situated between the North Sea to the west and the Baltic Sea to the east.The island of Bornholm is offset to the east of the rest of the country, in the Baltic Sea. The Kingdom of Denmark, including the Faroe Islands and Greenland, has roughly List of islands of Denmark, 1,400 islands greater than in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
