A Commentary on the UNCITRAL Model Law, Fourth Edition
This new edition provides an in-depth, article-by-article analysis of the local enactment and application of the model law in each of the jurisdictions concerned, alongside consideration of the relationship between the model law and any existing cross-border insolvency jurisprudence.
Written by specialists from each jurisdiction, this new edition provides an in-depth, article-by-article analysis of the local enactment and application of the model law in each of the jurisdictions concerned, alongside consideration of the relationship between the model law and any existing cross-border insolvency jurisprudence. Each chapter adopts essentially the same format for ease of reference, addressing key concepts such as the centre of main interests, court-to-court communication, enforcement of security interests and the protection of debtors and creditors.
New to the fourth edition are chapters on Chile and the Philippines with an expanded South African chapter to include the OHADA countries.
This major new edition is an invaluable guide to the local application and comparative analysis of the model law for anyone dealing with cross-border insolvency issues. Lawyers in private practice or in-house, insolvency practitioners, government authorities, academics and students will find this expanded edition an essential addition to their library.
Table of Contents
|Table of contents||4|
|Preface Look Chan Ho Freshfields Bruckhaus Deringer||6|
|Overview Look Chan Ho Freshfields Bruckhaus Deringer||8|
|Australia Scott Atkins Henry Davis York||18|
|British Virgin Islands Phillip Kite Harneys||70|
|Canada Steven Golick Patrick Riesterer Marc Wasserman Osler, Hoskin & Harcourt LLP||88|
|Cayman Islands Tony Heaver-Wren Paul Kennedy Appleby (Cayman) Ltd||118|
|Chile Antonio López Javiera Muñoz Baker McKenzie||134|
|Colombia Luis Alfredo Barragán Susana Hidvegi-Arango Brigard & Urrutia Abogados||140|
|England Look Chan Ho Freshfields Bruckhaus Deringer||164|
|Greece Dimitris Passas Vassilis Saliaris Moratis Passas||290|
|Japan Shin-ichiro Abe Kasumigaseki International Law Office||322|
|Mauritius Malcolm Moller Appleby||334|
|Mexico Pablo Perezalonso Ritch, Mueller, Heather y Nicolau, SC||360|
|New Zealand Sean Gollin Minter Ellison Rudd Watts||374|
|Philippines Catherine Diño-Padlan Gilberto D Gallos Francis Ed Lim Accra Law||392|
|Poland Michał Barłowsk iWardyn´ski & Partners||442|
|Romania Denise Diaconeasa Iulia Dobre Alexandru Lefter Laurentiu Pachiu Pachiu & Associates||468|
|Scotland Hamish Patrick Shepherd and Wedderburn LLP||480|
|Serbia and Montenegro Tamara Bubalo Vojislav Janicijevic Milan Novakov Bojan Vuckovic Karanovic´ & Nikolic´||486|
|Singapore Andrew Chan Alexander Yeo Nigel Yeo Allen & Gledhill||498|
|South Africa and OHADA member states Claire van Zuylen Bowmans||558|
|South Korea Chiyong Rim Kim & Chang||580|
|United States Craig Martin DLA Piper LLP (US)||598|
|Table of contents||741|
|Table of European Council Directives and Regulations||777|
|Model Law on Cross-Border Insolvency||779|
|Appendix 1: UNCITRAL Model Law on Cross-Border Insolvency and Guide to Enactment (1997)*||783|
|Appendix 2: UNCITRAL Model Law on Cross-Border Insolvency with Guide to Enactment and Interpretation(2013)*||855|
|About the authors||953|
Review for previous edition: The book is a must-read for judges.
Professor Bob Wessels
In summary, this is an invaluable reference text on how the Model Law has thus far been adopted. It serves as a useful aide-mémoire to the status of the text in the jurisdictions covered and is thus of great utility to a range of potential users.
Founder, Kasumigaseki International Law Office
Shin-ichiro Abe is one of Japan's leading specialists in Japanese and international corporate restructuring and insolvency law. He is highly respected as an adviser for transactions (including M&A) and structures requiring insolvency protection and solutions. Shin-ichiro has also contributed to numerous publications and spoken at various seminars and events. Shin-ichiro is a visiting professor at Chuo Law School. He established his law firm in 2016. Shin-ichiro is a member of various professional affiliations. including: chair of the insolvency committee of the International Pacific Bar Association; board member of the International Insolvency Institute; board member of the Japanese Association for Business Recovery (affiliation of Insol); and board member of the Japanese Association of Turnaround Professionals.
Shin-ichiro's recent publications include: coauthor, A Revised Corporate Law, Yachiyo Shuppan, 2016 and Creditor Reorganization Procedure Strategy, Final Results of Reorganization, Shoji Homu, February 2015.
Chair of the board and partner, Henry Davis York
Scott Atkins is an inaugural fellow and board member of INSOL International. Scott is chair of the board of Henry Davis York and is a partner in its internationally acclaimed restructuring, insolvency and banking practice, located in the firm's Sydney office.
Scott's practice straddles the globe a reflection of his wide-ranging expertise in crossborder insolvency. He has unique experience advising nations on insolvency and restructuring law reform, including the systemic and structural reforms required across economies to facilitate and support the effective operation of such laws. Scott is responsible for drafting new insolvency, restructuring and corporate rescue laws for the Republic of the Union of Myanmar. He has previously advised the government of the Republic of Nauru in relation to the reform of its insolvency and restructuring laws and its sovereign investment fund. Scott was a member of the American Bankruptcy Institute's Commission to Study the Reform of Chapter 11 of the United States of America Bankruptcy Code, resulting in the publication of a landmark report proposing extensive law reform. He plays a leading role in shaping Australian insolvency and restructuring law reform as vice-president of ARITA the main Australian restructuring and insolvency professional association.
Scott is a visiting lecturer at the University of Sydney, teaching cross-border insolvency at both undergraduate and post-graduate level.
Senior counsel, Wardynski & Partners
Michał Barłowski is a senior counsel at Wardynski & Partners. For 15 years he was a senior partner of the firm where among others he headed the restructuring and bankruptcy practice and coheaded the M&A department. He has a degree from the London School of Economics and Political Science (BSc Econ) and the Warsaw University (MA Law). Since 1993 he has been a legal adviser in Warsaw.
Mr Barłowski deals with insolvency and restructuring, mergers and acquisitions as well as corporate law matters and advises international as well as local clients. He acted as a member of a group of experts to the European Commission first on change of Regulation 1346/2000 on insolvency which resulted in recast Regulation (EU) 2015/848 on insolvency proceedings and secondly on the preparation of a draft Directive on Preventive Restructuring Frameworks etc. He holds various executive functions in international and local organisations.
Luis Alfredo Barragán
Partner, Brigard & Urrutia Abogados
Luis Alfredo Barragán heads the litigation, arbitration and insolvency department at Brigard & Urrutia Abogados. He graduated from Colegio Mayor de Nuestra Señora del Rosario University in Bogotá DC before obtaining an LLM in commercial law from the University of California, and a specialisation degree in corporate law from Pontificia Javeriana University, Bogotá DC. Mr Barragán has been an arbitrator in International Chamber of Commerce cases and is a member of the panel of arbitrators at the chambers of commerce at Bogotá, Medellin and Cali. He has advised and represented creditors and debtors in landmark insolvency and restructuring cases, sales and acquisitions of companies subject to restructuring agreements, and settlements of disputes in connection with distressed companies, and has advised clients on the structure of collateral in complex finance projects.
Intellectual property practice group, Karanović & Nikolić
Tamara Bubalo is a member of the intellectual property department and advises on all aspects of intellectual property law, including trademark, design and patent registration, general IP counselling, IP enforcement, cybercrime and antipiracy work.
She is currently engaged in fighting against software piracy in the BSA (Business Software Alliance) project in Serbia and Montenegro. Tamara also has extensive experience in advising clients on commercial law, particularly in the field of competition law and telecommunications.
She is a court-certified interpreter for French language and a member of the International Bar Association (IBA). She has been working in cooperation with Karanovic & Nikoli since 2008.
Partner, Allen & Gledhill
Andrew Chan is a partner of Allen & Gledhill LLP specialising in the law of restructuring and insolvency. Andrew has been consistently recognised as a leading restructuring and insolvency lawyer in The Legal 500 Asia Pacific, Best Lawyers International, Chambers Global and Chambers Asia-Pacific, Who’s Who Legal for Insolvency and Restructuring, and IFLR1000. Andrew is also the general editor of the leading local practitioner’s book entitled Law & Practice of Corporate Insolvency, consultant editor of the Halsbury’s Law of Singapore volume on insolvency, and co-author of Butterworths Annotations of the Singapore Bankruptcy Act and Law and Practice of Bankruptcy in Singapore and Malaysia. Andrew is a fellow of the Insolvency Practitioners Association of Singapore, vice-president and director of the Turnaround Management Association Singapore and South East Asia Ltd. In 2011 Andrew received the Minister of Law Outstanding Volunteer Award, based on his involvement in providing expertise in, and helping to shape, insolvency law and practice.
Junior associate, Pachiu & Associates
Denise Diaconeasa is a junior associate with Pachiu & Associates and a member of the litigation practice group. Her practice mainly covers the areas of civil and commercial advice and litigation.
Denise is a graduate in Judicial Career at the University of Bucharest and a member of the Bucharest Bar. She speaks fluent English.
Senior associate, Accra Law
Catherine Diño-Padlan is a senior associate at the Angara Abello Concepcion Regala & Cruz Law Offices (Accra Law) in Manila, Philippines. She obtained her Juris Doctor degree from the Ateneo de Manila University in 2011 and was admitted to the Philippine Bar in 2012.
Junior associate, Pachiu & Associates
Iulia is a junior associate with Pachiu & Associates and a member of the corporate/M&A practice group. She specialises in competition, intellectual property, corporate, IT and data protection. She is a graduate of the Faculty of Law at the University of Bucharest and of the University of Paris I Pantheon-Sorbonne and holds a Maîtrise degree in European and International Business Law with the latter. She speaks fluent English and French.
Gilberto D Gallos
Partner, Accra Law
Gilberto Gallos is a partner at the Angara Abello Concepcion Regala & Cruz Law Offices (Accra Law). He obtained his BA in Economics from the University of the Philippines in 1987, and his JD degree from the Ateneo de Manila University College of Law in 1993.
Retired partner, insolvency and restructuring
Osler, Hoskin & Harcourt LLP
Steven Golick is a retired partner in the insolvency and restructuring group and practised in the areas of bankruptcy, insolvency, debtor/creditor rights, secured transactions, workouts and restructurings. Prior to his retirement, he advised financial institutions, trustees, receivers, secured and unsecured creditors, debtors and purchasers. He acted as an adviser to the federal government on amendments to the Bankruptcy and Insolvency Act in 1992 and 1997. Steven authored a number of publications and prior to his retirement was also a regular contributor to a number of publications and a speaker and panelist at events and seminars.
Partner, Minter Ellison Rudd Watts
Sean Gollin is a partner in the litigation and the insolvency and restructuring teams at Minter Ellison Rudd Watts in Auckland, New Zealand, and leads the firm’s national dispute resolution division. He holds degrees in law and arts, and a Master’s degree in commercial law. Mr Gollin has specialised in contentious and non-contentious insolvency and restructuring assignments for over 25 years.
Mr Gollin has acted for all major banks and insolvency practitioners in New Zealand. He has been involved in some of New Zealand’s largest and most complex receiverships and insolvent administrations and restructurings, as well as various trans-Tasman insolvency assignments working with MinterEllison’s Australian offices. He is listed in all leading directories as one of New Zealand’s leading insolvency and restructuring lawyers.
Mr Gollin is a member of INSOL and is the contributing author for chapters on cross-border insolvency and the UNCITRAL Model Law in New Zealand’s leading insolvency publication.
Partner, Appleby (Cayman) Ltd
Tony Heaver-Wren is a partner and a member of the Cayman dispute resolution department. He qualified in 1994 and joined Appleby in 2007, having been a senior associate at leading firms in England and Australia.
Tony works primarily in the areas of corporate restructurings, insolvent liquidations, dissenting shareholder merger disputes and insolvency litigation, having represented major lenders, liquidators, administrators, receivers and boards of private and publicly listed companies in all aspects of corporate governance, contentious and non-contentious insolvency and corporate restructuring. Tony also provides advice on a range of funds, insurance and cross-jurisdictional matters and has a rich cross-discipline practice, working extensively with banking and finance, structured finance and funds colleagues. Tony has a vibrant Far East practice, including appraisal rights claims in respect of PRC management buyout and corporate restructuring through schemes of arrangement. Tony recently led the Cayman Islands restructuring of CHC Group Ltd in support of a plan pursuant to Chapter 11 of the US Bankruptcy Law.
Director, Brigard & Urrutia Abogados
Susana Hidvegi-Arango is a director in the litigation, arbitration and insolvency department of Brigard & Urrutia Abogados. She graduated from Colegio Mayor de Nuestra Señora del Rosario University in Bogotá DC, from where she also obtained a specialisation degree in finance law. She also holds an LLM in business law and bankruptcy from the University of California, Los Angeles, United States. She is admitted to practise law in Colombia and the state of New York. Ms Hidvegi-Arango teaches Cross-border Insolvency at University of Los Andes, Colegio Mayor de Nuestra Señora del Rosario University, Sergio Arboleda University and Javeriana University (Cali). She has also participated in several panels and conferences regarding cross-border insolvency proceedings and has written various papers on this topic.
Ms Hidvegi-Arango focuses her practice on insolvency and restructuring, and has advised and represented clients in groundbreaking insolvency proceedings.
Look Chan Ho
Freshfields Bruckhaus Deringer
Look Chan Ho, MA, BCL (Oxon), LLM (Cantab), LLM (NYU), Attorney-at-Law (New York), Solicitor-Advocate (England and Wales) and Solicitor (Hong Kong), is Head of Restructuring and Insolvency in Asia at Freshfields Bruckhaus Deringer, based in Hong Kong. Mr Ho specialises in corporate insolvency, with a particular emphasis on cross- border insolvency. He has also published extensively in textbooks and legal journals on insolvency-related topics. He is a recognised scholar in the field of corporate insolvency and his publications are widely cited in legal literature.
Junior associate, Karanović & Nikolić
Vojislav Janicijevic is a junior associate in the corporate and real estate department, advising Serbian and multinational corporations on all aspects of corporate and real estate law. In 2014 he obtained his law degree from the Belgrade Faculty of Law. He joined Karanović & Nikolić in 2015 and since then has mainly focused on real estate and corporate-related matters.
Vojislav assists clients in a broad range of real estate transactions and general corporate matters within the industry, and is experienced in advising on the real estate aspects of infrastructure and transport projects. He is a member of the Belgrade Bar Association and the International Bar Association (IBA).
Senior associate, Appleby (Cayman) Ltd
Paul Kennedy is a senior associate in the Appleby dispute resolution practice group in the Cayman Islands specialising in contentious insolvency and litigation with a particular focus on hedge funds. He regularly acts for creditors, contributories and liquidators of distressed Cayman Islands funds. He has appeared before the Grand Court and Court of Appeal of the Cayman Islands, and the Privy Council as well as in the Irish courts. He is the author of the Cayman Islands chapter in the leading text: Cross-Border Judicial Cooperation in Offshore Litigation. Paul is admitted in Ireland, England and Wales and the Cayman Islands, and is a graduate of Trinity College, Dublin.
Phillip Kite is global head of litigation and insolvency at Harneys which is the oldest and largest firm in the British Virgin Islands (BVI). He qualified in England in 1992 but since 1997 has practised BVI law and has extensive experience of large international commercial and insolvency litigation. He has also written frequently on the laws of the BVI.
Partner, Pachiu & Associates
A lawyer with over 12 years of professional experience, Alexandru is the partner coordinating the firm’s Corporate and M&A Department. As head of the Corporate Practice Group (including the Labour Law, Competition, Insolvency and IP sub-practice areas), his practice covers corporate governance and restructuring (mergers, spin-offs, capital restructuring etc), intricate joint venture deals and takeover/ divestment procedures as well as private equity funds in complex transactions, including greenfield and brownfield developments. Alexandru has also been involved in financing and insurance matters and constantly advises on competition, insolvency, labour law and recently on several IT deals. Alexandru plays a key role in the core management team, being in charge of the smooth delivery of all projects in the Corporate Practice Group, supervising and coordinating client & internal practice development.
Alexandru is a graduate of the Faculty of Law of the University of Bucharest and holds an LLM awarded by Suffolk University Law School in Boston. He also holds a degree from the Institute of Business Law and International Cooperation “Henri Capitant” – a partnership of the Faculties of Law of the University of Bucharest and the University of Paris I Pantheon Sorbonne. He co-authored several Multi-Jurisdictional and International Comparative Legal Guides on topics such as Mergers & Acquisitions, Mining, Corporate Recovery & Insolvency, International Arbitration and Corporate Governance. Alexandru is constantly recognised as a leading individual in the Chambers and Legal 500 directories, in the Corporate/M&A Practice Area. He speaks fluent English and French.
Francis Ed Lim
Senior partner, Accra Law
Francis Lim is a senior partner at the Angara Abello Concepcion Regala & Cruz Law Offices (Accra Law) in Manila, Philippines. He was president and chief executive officer of the Philippine Stock Exchange from 2004 to 2010. Mr Lim is a professor of law at the Ateneo de Manila University and the Graduate School of Law of the San Beda College. He is the holder of the professorial chair in commercial law at the Philippine Supreme Court, Philippine Judicial Academy and the Metrobank Foundation Inc and another professorial chair at the Tan Yan Kee Foundation Endowed Fund and the Ateneo de Manila University College of Law.
Mr Lim graduated magna cum laude in Bachelor of Philosophy and cum laude in Bachelor of Arts from the University of Santo Tomas. He obtained his Bachelor of Laws degree (Second Honors) from the Ateneo de Manila University and his Master of Laws degree from the University of Pennsylvania, USA.
Senior associate, Baker McKenzie
Antonio López focuses his practice on litigation and domestic and international arbitration. He is highly knowledgeable in dispute resolutions including civil and commercial matters in industries such as construction, infrastructure projects, banking and consumer protection. He is currently leading the insolvency and bankruptcy practice group and participating in some of the most important reorganisation and liquidation proceedings in Chile. Antonio graduated from Catholic University School of Law in 2007 and joined the firm, in the Santiago office, in 2014.
Partner, DLA Piper LLP
Craig Martin is a partner in the restructuring group of DLA Piper LLP (US). He has spent his legal career working on complex distressed situations. Craig has represented numerous parties in a variety of cases, including equity committees, committees of unsecured creditors, bank groups, indenture trustees and debtors. He has also advised purchasers of assets in bankruptcy auctions and court-approved sales and frequently provides bankruptcy-specific advice in complex mergers and acquisition situations involving distressed entities.
While Craig has appeared in the bankruptcy courts all across the United States, his work frequently focuses on cross-border situations. He has acted as counsel in cases in Canada, Germany, Ireland, Hong Kong, Spain, Bermuda, the Dominican Republic, Africa, the United Kingdom and Argentina. Craig is the co-author of the American Bankruptcy Institute’s Chapter 15 for Foreign Debtors and often represents foreign representatives in the United States.
Managing partner, Appleby
Malcolm Moller is the managing partner of the Mauritius, Seychelles and Shanghai offices. He is a member of the corporate department and both the insurance and structured finance teams. He specialises in advising financial institutions on financial regulation, regulatory capital issues, financial institution M&A, and insurance-related transactions. He advises on private equity funds, hedge funds, derivatives transactions and securities offerings, as well as a range of corporate and corporate finance transactions. Malcolm has extensive experience representing corporations, financial institutions and other entities. His experience spans public and private M&A, credit, restructuring, bankruptcy, capital markets, fund formation and winding-up, and a variety of strategic and advisory corporate assignments. His experience in credit transactions has included representing both banks and borrowers in multi-billion-dollar secured, unsecured and commercial paper facilities for companies.
Prior to joining Appleby in January 2003, Malcolm worked for Hardings Solicitors, Sydney, Australia, and Heath International Holdings Insurance Ltd (HIH Insurance Ltd, formerly Winterthur International Insurance Ltd). He also worked at the London office of Clifford Chance, where he gained significant experience in corporate and insurance-related transactions.
Associate, Baker McKenzie
Javiera Muñoz focuses her practice on litigation and arbitration, and gave her admission exam on insolvency proceedings.
Javiera graduated from Catholic University School of Law and is currently in the process of being admitted to the Chilean Bar. She joined the firm, in the Santiago office, in 2016.
Junior associate, Karanović & Nikolić
Milan Novakov is a junior associate in the corporate and commercial department, as well as an active participant in the tax team. Besides the day-to-day advising of clients on corporate issues, he maintains a particular focus on the field of energy law and M&A transactions.
After graduating in 2015 at the Belgrade University Faculty of Law, Milan decided to continue his education by applying for Public finance and Tax Master’s programme, in which he is currently enrolled.
While still a student, Milan participated in the law clinic for anti-corruption and worked on pro bono cases. After graduation, he mainly worked on the enforcement proceeding at a local Law Office, and has been with Karanović & Nikolić since January 2016.
Managing partner, Pachiu & Associates
Laurentiu Pachiu is the Managing Partner and founder of Pachiu & Associates law firm, with policy and legal expertise in the field of energy, oil and gas and natural resources. He has over twentytwo years of expertise in business law, the academic environment and diplomacy, as a former diplomat with the Ministry of Foreign Affairs Romania. Laurentiu heads the Energy and Finance Practice Groups within Pachiu & Associates and provides legal advice with regard to domestic and cross-border transactions, regulatory compliance, energy and natural resources, concessions, project financing and banking, capital markets, tax and offshore structures, across a wide range of industries.
Laurentiu is a member of the Associated European Energy Consultants and of the Association of International Petroleum Negotiators, Board member of the Energy Policy Group and member of the Working Group on Energy Security, US-Romania Strategic Partnership. He has an extensive publishing activity, being present in high-profile Romanian publications with articles on various legal matters in the energy sector. Laurentiu also brought valuable contributions to several international comparative legal guides, focusing on the Romanian regulatory framework in the field of oil & gas, mining, as well as other sectors.
Laurentiu is a graduate of the Bucharest University School of Law and of the Diplomatic Academy of the German Federal Ministry of Foreign Affairs and holds a Master of Laws Degree in Transnational Oil, Gas and Energy Law from the University of Derby, UK. He speaks fluent English and German.
Managing partner, Moratis Passas Law Firm
Dimitris Passas is a lawyer admitted to practise in Athens (Supreme Court), and managing partner at Moratis Passas Law Firm in Athens, Greece. He holds a degree in law from the National and Kapodistrian University of Athens. He has vast experience in both commercial and civil litigation and in transactions both in Greece and abroad.
His professional experience spans all the fields of banking and finance, debt restructuring, consumer and corporate finance, securitisation, shipping, real estate, insurance and insolvency. He has been acting as an independent member of the Board of Credit Institutions. He also participates in the board of AEDBF Greece.
Partner, Shepherd and Wedderburn LLP
Hamish Patrick is a finance partner with Shepherd and Wedderburn in Edinburgh. He has had a broad practice in debt finance and recovery for over 25 years, including conventional banking, innovative funding structures, restructuring and insolvency. Dr Patrick is also involved in policy and opinion work for financial institutions and in legal reforms for clients, government bodies and other stakeholders. His clients include UK clearing bank groups and European, North American, Far Eastern and other financial institutions. Dr Patrick has a PhD in cross-border securities and insolvency and speaks and publishes on security and insolvency issues. His other publications include the Scottish chapter of Sweet & Maxwell’s European Cross-Border Insolvency. He is recognised as a leading finance lawyer by Chambers & Partners, Legal 500 and other directories.
Partner, Ritch, Mueller, Heather y Nicolau, SC
Pablo Perezalonso has been a partner of Ritch, Mueller, Heather y Nicolau, SC since 2000. Born in Mexico City in 1968, he obtained his law degree in 1991 from the Instituto Tecnologico Autonomo de Mexico where he graduated with honours. He obtained a Master in Laws from the University of Michigan in 1993. He was a recipient of Fulbright, Ford/McArthur and CONACYT Scholarships. Prior to joining Ritch Mueller in 1994, Mr Perezalonso participated in the negotiations of the NAFTA as part of the legal team of the Mexican government from 1991 to 1993. He worked as a foreign associate at Milbank, Tweed, Hadley and McCloy in New York from 1993 to 1994. Mr Perezalonso specialises in securities transactions, international banking and financing transactions, regulatory matters, derivatives and capital markets. Mr Perezalonso has been recognised as a leading practitioner by different publications. He has published several articles and contributed to specialised publications.
Associate, insolvency and restructuring
Osler, Hoskin & Harcourt LLP
Patrick Riesterer practises commercial law with an emphasis on insolvency, restructuring, bankruptcy, secured transactions and enforcement of debtor and creditor rights. He has been involved in complex cross-border restructurings and insolvencies. Patrick has also developed expertise in insolvency matters related to derivatives and securitisation transactions, including with respect to counterparty rights and non-consolidation opinions.
Attorney, Kim & Chang
Mr Chiyong Rim is an attorney at Kim & Chang. He practises in insolvency and restructuring areas, with a focus on corporate liquidation, M&A in reorganisation proceedings and cross-border insolvency cases. His last position was as a judge on the bankruptcy panel of the Seoul Central District Court. He is a member of the Insolvency Law Review Committee of the Department of Justice.
He has been listed in Legal 500 as a leading lawyer and has been recognised in Chambers Asia Pacific as a band one lawyer since 2007. Chambers & Partners in 2014 quotes: “He was noted among peers for his many years of experience in this field”, and cites him as a veteran bankruptcy lawyer. He has co-authored various publications in English, including “The International Insolvency Review: Korea chapter” (Law Business Research) and “Collier’s International Business Insolvency Guide: Korea chapter” (LexisNexis). He has published four volumes of The Study of Bankruptcy Research.
Partner, Moratis Passas Law Firm
Vassilis Saliaris is a lawyer admitted to practise in Athens (Supreme Court), and partner at Moratis Passas Law Firm in Athens, Greece. He holds a degree in law from the National and Kapodistrian University of Athens and an LLM from the Eberhard Karls University of Tübingen (Germany). As a member of the firm’s banking and financial law working group, he advises on banking regulatory matters and has been involved in securitisation and covered bond programmes, as well as in the licensing of financial institutions from the local regulator. His practice areas include banking and finance, securitisation, consumer finance, insurance, insolvency, corporate and M&A and competition and antitrust law matters.
Claire Van Zuylen
Claire van Zuylen is a partner and head of the restructuring and insolvency practice at Bowmans, largely regarded as a leading Pan-African law firm, with offices in South Africa, Tanzania, Kenya, Madagascar and Uganda. During the course of her practice, Ms van Zuylen has advised on all aspects of insolvency, ranging from cross-border insolvency and cross-border security arrangements, debt-restructuring, schemes of arrangement/compromise, through to the implications of insolvency on commercial transactions. Ms van Zuylen is an external member and research associate of the Centre for Corporate & Insolvency Law, Faculty of Law, University of Pretoria. She has been selected as one of the ‘recommended’ attorneys in South Africa in the field of insolvency and restructuring for 2007, 2008, 2009, 2010, 2011, 2012 and 2013 by the Practical Law Company (publication discontinued in 2013), and was nominated and selected to feature in Euromoney’s “Guide to the World’s Leading Women in Business Law” for two years running in 2015 and 2016. She was appointed to the editorial board of the quarterly journal published by INSOL (International Association of Restructuring, Insolvency and Bankruptcy Professionals) for 2008/2009. Her other publications, in the insolvency sphere, include the South African chapter of the international publication Insolvency and Restructuring (Getting the Deal Through), which compares insolvency regimes in 46 jurisdictions worldwide, 2004–2016.
Partner, Karanović & Nikoliić
Bojan Vuckovic graduated from the Faculty of Law, University of Belgrade in April 2000. Mr Vuckovic joined Karanović & Nikolić in February 2006. He is a registered attorney with the Belgrade Bar Association.
Mr Vuckovic has worked on a number of corporate and competition matters. He advises clients on all aspects of commercial law and is currently focused on competition law and general corporate law.
He has been a contributor to the first and second editions of Cross-Border Insolvency: A Commentary on the UNCITRAL Model Law. He is proficient in English and German.
Partner, national chair, insolvency and restructuring
Osler, Hoskin & Harcourt LLP
Marc Wasserman practises corporate and commercial law in the areas of corporate restructuring, financial services and private equity. He has been involved in many complex corporate recapitalisations, reorganisations and restructurings and related acquisitions, divestures, financings and governance matters. He has expertise in national, cross-border and international matters acting for major debtor corporations, bondholders, equity sponsors, senior lenders, monitors and acquirers. Marc also regularly provides strategic advice and risk analysis on structuring of corporate and lending transactions.
Senior associate, Allen & Gledhill
Alexander Yeo is a senior associate in Allen & Gledhill LLP. His practice spans a wide range of matters including major and high-profile crossborder restructuring and insolvency matters, contractual claims, employment claims, private banking and investment disputes, manufacturing and distributorship claims, landlord/tenant disputes, breaches of directors’ duties and computer software claims. Alexander has assisted with the writing of a leading local practitioner’s book entitled Law & Practice of Corporate Insolvency, and with the Singapore chapter of the Oxford University Press book entitled Set-Off Law and Practice. He was also part of the Secretariat which assisted with the Report of the Insolvency Law Review Committee 2013.
Associate, Allen & Gledhill
Nigel is an associate in the firm’s litigation practice, specialising in commercial and civil litigation. He has experience in a wide range of contentious as well as non-contentious matters, including those relating to contract, bankruptcy/insolvency, corporate governance, cross-border insolvency, medical negligence, building and construction, and anti-money laundering/counter-terrorism financing. Nigel is a member of the Young Lawyers’ Committee as well as the Public and International Law Committee of the Law Society of Singapore. Nigel graduated with a Bachelor of Laws (Second Class Honours (Upper)) from the National University of Singapore (NUS) in 2015 and was called to the Singapore Bar in 2016. During his time in NUS, Nigel was actively involved with the school community and held leadership positions in various committees. He was also part of the NUS team which emerged as semi-finalists in the 2015 International Criminal Court Moot Court Competition.