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Implementing An Efficient Insolvency Framework For Micro And Small Firms, Aurelio Gurrea-Martinez
Implementing An Efficient Insolvency Framework For Micro And Small Firms, Aurelio Gurrea-Martinez
Research Collection Yong Pung How School Of Law
Micro, small and medium-sized enterprises (MSMEs) represent about 90% of businesses and more than 50% of employment worldwide. Despite the economic relevance of MSMEs in most countries around the world, and even more in emerging markets, most insolvency jurisdictions do not address adequately the insolvency of MSMEs. In a recent article, entitled ‘Implementing an Insolvency Framework for Micro and Small Firms’ (International Insolvency Review, forthcoming), I seek to contribute to the existing literature on the insolvency treatment of MSMEs. After analysing the particular problems and features of MSMEs, as well as the insolvency reforms for MSMEs recently implemented in various …
Insolvency Law In Times Of Covid-19, Aurelio Gurrea-Martinez
Insolvency Law In Times Of Covid-19, Aurelio Gurrea-Martinez
Research Collection Yong Pung How School Of Law
The international spread of the coronavirus is not only generating dramatic consequences from a social perspective but it is also heavily affecting the global economy. For this reason, governments, financial regulators and international organizations are responding to this pandemic with a package of legal, economic and financial reforms. Among the legal measures included in these packages of reforms, many countries, including Australia, Germany, Spain, India, Singapore, the United Kingdom and the United States, have proposed or implemented several changes to their insolvency frameworks.
Directors’ Duties Of Financially Distressed Companies In The Time Of Covid-19, Aurelio Gurrea-Martinez
Directors’ Duties Of Financially Distressed Companies In The Time Of Covid-19, Aurelio Gurrea-Martinez
Research Collection Yong Pung How School Of Law
Unlike other jurisdictions around the world, several European countries require corporate directors to file for bankruptcy once a company becomes insolvent. For instance, under German law, corporate directors are required to file for bankruptcy within three weeks since they know, or ought to have known, that the company became insolvent on a balance-sheet or a cash-flow basis. Failure to comply with this duty may expose the directors to both civil and criminal liability. In Spain, a similar duty is imposed. However, instead of exposing directors to criminal liability, they can be subject to other sanctions (including disqualification and liability for …