![]() (2006) ‘Overview of the Treatment of Stakeholders in UK Corporate Insolvency Law’ in H. (2005) ‘La Reforma de los Procedimientos de Recuperación de Empresas en Crisis en el Reino Unido’ 3 Revista de Derecho Concursal y Paraconcursal 403-412. Mokal (2005) ‘Reforming the Governance of Corporate Rescue: The Enterprise Act 2002′ Lloyds’ Maritime and Commercial Law Quarterly 28-64.Īrmour, J. (2006) ‘The Proceeds of Office-holder Actions under the Insolvency Act: Charged Assets or Free Estate?’ Lloyds’ Maritime and Commercial Law Quarterly 27-48.Īrmour, J. Walters (2006) ‘Funding Liquidation: A Functional View’ 122 Law Quarterly Review 303-334. ![]() (2006) ‘Evaluating the Impact of the Enterprise Act on Corporate Rescue’, mimeo, January, 20pp. ![]() Hsu (2006) ‘The Costs and Benefits of Secured Creditor Control in Bankruptcy: Evidence from the UK’, mimeo, June, 44pp. The net effect on recoveries for unsecured creditors appears to be neutral. These quantitative results were supplemented by qualitative research, consisting of interviews with practitioners and regulators.Īnalysis indicates (i) that gross recoveries in the administration cases, under the new law, are significantly higher than those in receivership cases, under the old law but (ii) that insolvency costs are also significantly higher in the administration cases than receivership cases. Work began in February 2006 and was completed by the end of July 2006. To investigate these issues, a new dataset of 348 cases of corporate insolvency commencing between 20 (153 receiverships under the old law and 195 administrations under the new law) was constructed using data from reports filed by practitioners at Companies House.
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