Disclaimer: This course has been updated to the best of our knowledge at the current time of publishing. Due to the Covid 19 pandemic and the fluctuating changes in lock down regulations all information contained within this course description are subject to change up to 1 September 2021.
Due to the uncertainty of the Covid 19 virus after 1 September 2021, changes to the course description can only be made in the event of strict necessity and only in the circumstances where the interests of the students are not impinged. Should there be a need for any change during the duration of the course, this will be informed to all students on a timely basis and will not be to the prejudice of students. Modifications after 1 September 2021 may only be done with the approval and consent of the Faculty Board.
COURSE DESCRIPTION
The course on International Insolvency Law (IIL) aims to give students profound knowledge of and thorough insight in the legal theory and practice of restructuring and insolvency law in a transnational and comparative context. The importance of studying insolvency from an international perspective has increased significantly over the past decades, with globalisation of businesses which has turned insolvency into an international affair. This applies, in particular, in times of economic crisis, as with the current COVID-19 pandemic. With creditors as well as the company’s assets being located in different jurisdictions, the cross-border context of restructuring and insolvency proceedings has to be addressed. The international setting in which debtors as well as creditors operate has added complexity to both restructuring or insolvency proceedings and the ways for creditors to make their claims effective.
The concept of restructuring and insolvency will be studied in a broad sense. This includes out-of-court workouts, pre-packs, reorganisation, winding-up, but also bankruptcy. Furthermore it extends to the ways in which corporate restructuring and insolvency is regulated, both by hard law as well as soft law instruments.
The IIL course starts by exploring the principles of insolvency law, the main actors in restructuring an insolvency proceedings and the theoretical frameworks for dealing with cross-border insolvency proceedings, etc.. The understanding of these ‘insolvency basics’ creates the foundation for a more solid study of international (cross-border) insolvency law. Emphasis will be placed on corporate debtors and the effectiveness of mechanisms for dealing with cross-border restructuring and insolvency proceedings at a global level. The focus will be on the insolvency frameworks that have been developed by the United Nations Committee on International Trade Law (UNCITRAL), in particular, its Model Law on Cross-Border Insolvency (1997), as well as the European Union with its European Insolvency Regulation Recast (2015). In addition, several other international instruments on cross-border insolvency will be addressed during the course.
CONTACT
Programme Coordinator LLM (Adv) International Civil and Commercial Law
Office for International Education / Leiden Law School
E: iccl@law.leidenuniv.nl
COURSE COORDINATOR
Mr. Gert-Jan Boon
T: +31 71 527 7939
j.m.g.j.boon@law.leidenuniv.nl
METHOD OF INSTRUCTION
Lectures and case studies (combined with online components if necessary).
EXAMINATION
Written exam (75%)
Written assignment (25%)
The overall course grade should be at least 5,5 in order to complete the course successfully.
There will be one retake (100%) substituting all previous assessments. It will be up to the discretion of the examiner to decide on the form of the retake.
COURSE REQUIREMENTS
Full degree in law granting access to the legal profession (or equivalent).