Insolvency of Significant Non-Financial Enterprises: Lessons from Bank Failures and Bank Resolution

Kokorin, Ilya

doi:10.2139/ssrn.3609285

SSRN Journal

2020

DOI: 10.2139/ssrn.3609285

|View full text |Cite

Insolvency of Significant Non-Financial Enterprises: Lessons from Bank Failures and Bank Resolution

Ilya Kokorin

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...

Citation Types

Supporting

Mentioning

Contrasting

Year Published

2021

Publication Types

Select...

Article1

Relationship

Self Cite1

Independent0

Authors

Journals

Cited by 1 publication

(1 citation statement)

References 3 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“… 60 On the distinction between micro- and macro-prudential functions of insolvency law and bank resolution, see Kokorin ( 2021b ). …”

mentioning

confidence: 99%

The Rise of ‘Group Solution’ in Insolvency Law and Bank Resolution

Kokorin

2021

Eur Bus Org Law Rev

Self Cite

View full text Add to dashboard Cite

This article traces the emergence of the concept of ‘group solution’ and its manifestations in insolvency law and bank resolution as an alternative to the rigid entity-by-entity approach. The rise of this concept can be linked to the recognition of the specificity of problems related to the insolvency of multinational enterprise groups, arising from group operational and financial interconnectedness. This has not happened at once, but has resulted from the evolution of views and ideas, evident in hard and soft law instruments of the 2000s and the 2010s. In light of this important development the article explores the concept of a group solution, its rationale, scope of application and limitations. It concludes that despite the gradual acceptance of the group phenomenon, a group solution has not been formed as a coherent and well-defined legal principle. Instead, it represents a variety of approaches, tools and practices, which pursue different policy objectives underpinned by different societal values. Among them are asset value maximization, business rescue, the protection of financial stability and the preservation of banks’ critical functions. With all its flexibility, a group solution has one pervasive limitation—it cannot trump the interests of individual group members and their creditors. At the same time, in order to realize the full potential of a group solution, it is necessary to embrace the group-sensitive and forward-looking interpretation of creditors’ interest, facilitating commercially sensible and practical group solutions.

show abstract

“… 60 On the distinction between micro- and macro-prudential functions of insolvency law and bank resolution, see Kokorin ( 2021b ). …”

mentioning

confidence: 99%

The Rise of ‘Group Solution’ in Insolvency Law and Bank Resolution

Kokorin

2021

Eur Bus Org Law Rev

Self Cite

View full text Add to dashboard Cite

show abstract

scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.

Contact Info

customersupport@researchsolutions.com

10624 S. Eastern Ave., Ste. A-614

Henderson, NV 89052, USA

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Blog Terms and Conditions API Terms Privacy Policy Contact Cookie Preferences Do Not Sell or Share My Personal Information

Made with 💙 for researchers

Part of the Research Solutions Family.

Insolvency of Significant Non-Financial Enterprises: Lessons from Bank Failures and Bank Resolution

Cited by 1 publication

References 3 publications

The Rise of ‘Group Solution’ in Insolvency Law and Bank Resolution

The Rise of ‘Group Solution’ in Insolvency Law and Bank Resolution

Contact Info

Product

Resources

About