CREDITS 2 (LV) 3 (ECTS) - 24 Contact Hours

The course International Insolvency Law provides a thorough introduction to the working of the European Insolvency Regulation. Particular attention will be paid to the issue of bankruptcy migration (transferring assets and activities in order to have the insolvency proceedings opened in a different Member State with more favourable rules for parties involved). In addition to questions of private international law (jurisdiction, applicable law, recognition and enforcement), the course will also deal with substantive insolvency law in different Member States in the European Union. A comparison will be made with regard to the rules on transaction avoidance in insolvencies (actio pauliana), the issue of shareholders and subordination of shareholders loans (equitable subordination) and rules on reorganisation procedures. The course will also deal with harmonization of European Insolvency Law, with topics that have already been harmonized such as protection of depositors and workers in case of insolvency, and topics which are currently being harmonized, most notably the rules on bank insolvency which seek to end the problems related to TBTF (Too Big To Fail).