Search results for "Insolvency law."
showing 5 items of 5 documents
Data as an asset in an insolvency procedure
2021
When a business becomes insolvent, assets that has selling value prevails within the insolvency process. Understanding if personal data can be classified as an asset and whether it can be sold when facing insolvency proceedings is determined in this Thesis. General Data Protection Regulation safeguards personal data of the EU data subjects including processing of such data. This regulation protects the EU data subjects also outside of the EU or EEA. Processing that includes sale of personal data is made possible if full compliance with the Regulation is applied. Legal basis for such processing that is required for the processing to be legal includes legal obligation arising from insolvency.…
Blockchain Securities, Insolvency Law and the Sandbox Approach
2018
Blockchain is a new technology that is based on an algorithm which allows participants of an IT network to process, store and share data across multiple points without the need for any intermediary, at least in order to ensure the integrity of the data dealt with. This technology is simplifying financial markets—many organizations are launching initial coin offerings to facilitate the financing of new business ventures; moreover, ‘securities’ that are issued in such a digital form can be bought and sold in the secondary market without the intervention of the traditional intermediaries. However, this use of blockchain could give rise to many problems which, in this article, will be analysed …
European Cross-Border Insolvency Law
2022
The first edition of this textbook was published in 2016, but since then the legal and factual scenario of European cross-border insolvency law has changed dramatically. In particular, three main events have occurred. First, the prescriptions of Regulation (EU) 2015/848 (Recast) have become applicable; second, the UK has left the European Union, without this completely reducing the meaning of the regulation for the UK though; and third, the European Union has enacted Directive (EU) 2019/1023 on preventive restructuring and insolvency. Moreover, since 2016, the Court of Justice of the European Union (CJEU) has delivered significant new judgments, albeit regarding the Regulation (EU) 1346/200…
Path Dependence and Paradox in Harmonizing Out-of-court Procedures across Europe. The Evidence from Italy
2018
This paper focuses on the impact that the ‘new approach to business failure’ has had on Italian out-of-court procedures. It will demonstrate that in 2005 Italian law started to embrace the rescue culture of out-of-court procedures by means of a series of reforms; initially, this movement facilitated the incorporation of the ‘new approach to business failure’, but – and this is the paradox – the more law makers and courts remove the old paradigms and introduce new ones, which in principle could make the procedures smoother, cheaper and more efficient, the more the law in the book and the law in action appear to be overloaded with additional prerequisites which make the procedures cumbersome…
Cryptocurrencies, Cybersecurity and Bankruptcy Law: How Global Issues Are Globalizing National Remedies
2020
The market for cryptocurrencies is interspersed with cases of loss, theft and fraud and a new transnational practice in bankruptcy law is emerging whereby cryptocurrency exchanges compensate the injured users on a collective basis. This paper will argue: first, that this trend has transplanted into Asia and Europe the US idea according to which bankruptcy law can be employed to avoid mass litigation; secondly, that this trend has transcended the debate about the characterization of digital assets, including the concerns of those scholars who maintain that digital coins cannot be objects of property; and thirdly that – since this practice follows the pattern of so-called restorative justice …