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Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Financial law > Banking law
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The Legal Aspects of Bank Insolvency - A Comparative Analysis of Western Europe, the United States and Canada (Hardcover)
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The Legal Aspects of Bank Insolvency - A Comparative Analysis of Western Europe, the United States and Canada (Hardcover)
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Until recent years, formal bank insolvency proceedings were rare
occurrences, with governments more often than not coming to the
rescue of failing banks. As a result, few studies relating to bank
failure have paid much attention to the regulatory framework for
failing banks and the conduct of formal bank insolvency
proceedings. However, in the aftermath of the Asian financial
crisis, more attention has been focused on issues of bank
insolvency. Structural reforms in the banking sector of various
Asian countries, in particular the implementation of effective exit
rules to expel insolvent and non-viable banks from the market, have
been considered of primary importance to restoring confidence in
the troubled banking sector. In addition, the ability of
governments within the European Union to rescue insolvent banks has
been significantly limited by strict rules on competition,
suggesting that failing banks will become increasingly subject to
insolvency proceedings. This text compares the legal framework for
dealing with insolvent banks in Western Europe, the United States
and Canada, identifying the distinctive features of each regime and
discussing the main issues and choices in dealing with failing
banks. It also examines the implications of a cross-border bank
insolvency, and considers different approaches to the problems it
raises, including the supranational approach of the proposed
European Directive on the Reorganization and Winding-up of Credit
Institutions. This work should be of value to lawmakers, to
consultants and scholars engaged in technical assistance work, and
to those who advise the legislators and officials involved in
devising a legal framework for bank insolvency. It should also be
of interest to practitioners and in-house counsel working in the
field of banking and corporate law.
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