Harmonisation of European Insolvency Law and the Need to Tackle Two Common Problems: Common Pool and Anticommons

Abstract

Insolvency law has finally become a field of law for which harmonisation at a European level is considered both important and feasible. In deciding upon the content of such harmonised rules, there will need to be a common understanding about the goals of insolvency law and, therefore, a European debate on bankruptcy theory. Bankruptcy theory, and most notably the influential creditors' bargain theory, has long viewed insolvency law as a set of rules for overcoming common pool problems. Bankruptcy theory thus far has almost completely overlooked anticommons problems. Anticommons present themselves in a situation in which there are several owners or entitled parties, and each of the parties has it within its power to block the use by others. Should anticommons behaviour in insolvency procedures go unchecked, creditors as a whole will be harmed. Insolvency is a collective process, and this process may not be sabotaged by a single party. Four typical insolvency issues, each identified by INSOL Europe as a candidate for harmonisation at a European level, are discussed, analysing them in terms of common pool problems and anticommons: preferences, reorganisation/composition plans, claim validation and insolvency of a group of companies. Copyright © 2012 John Wiley & Sons, Ltd.

Análisis de la viabilidad empresarial en el preconcurso de acreedores

“…De ahí que sea necesario hacer un esfuerzo en la posible predicción de sus causas y consecuencias (Du Jardin, 2015;Bauweraerts, 2016). Por ejemplo, la resolución de los concursos de acreedores es diferente dependiendo del país del que se trate, ya que existen diferentes leyes concursales en función de cada enfoque (Weijs, 2012;Georgescu y Baciu, 2014). Por lo tanto, el tipo de regulación concursal que se establezca en un país no es una decisión baladí.…”