The main idea of this research, which is based on the case study of the Lehman Brothers Holdings Incorporated bankruptcy proceeding, is an examination to which extent the bankruptcy legislation, considering its protective function was effective and „resistant“ in the context of the distressed economy and what steps were undertaken to improve this effectiveness. This issue is especially relevant while talking about the default of financial conglomerates, so called “too big to fail? non-bank investment institutions. Their complicated corporate structure (integrated business with separate entities, including crossborder affiliates), as well as a highly complicated consolidated accounting make the handling of the bankruptcy proceeding of non-bank investment corporations a big challenge.
The main aim of this research thus was to examine how bankruptcy professionals in different jurisdictions, i.a. to which extent do international nonbinding legal instruments, e.g. cross-border insolvency protocol on the multilateral basis work in practice, handle the nexus of issues that arise in a crossborder insolvency case like Lehman Brothers Holding Incorporated? Furthermore, which new approaches were created to make the bankruptcy proceeding of the financial conglomerate more efficient?
SchlagworteAmerikanisches Insolvenzrecht Bankruptcy Chapter 11 Cross-border Insolveny Protocol Insolvency Insolvenz Internationales Insolvenzrecht Lehman Brothers Reorganization Plan
Ihr Werk im Verlag Dr. Kovač
Möchten Sie Ihre wissenschaftliche Arbeit publizieren? Erfahren Sie mehr über unsere günstigen Konditionen und unseren Service für Autorinnen und Autoren.