Full Description
'Cash is king' - and, presumably, will remain king for a long time to come. This viewpoint is even more relevant since the 2008 international financial crisis. Banks are still hesitant to provide credit lines to companies, whether national or cross-border. High interest rates are charged on debt but hardly any interest is paid on credit amounts. More than ever before, companies need to limit both debit and credit amounts. Pooling cash within a corporate group or among a number of companies enables the best use of the funds available at as little cost as possible, thus strengthening the financial position of the companies involved. Cash pooling is thereby a means of reducing the risk of insolvency during difficult economic times.
The first edition of this book, published in 2012, was very well received. Since then, there have been a number of reasons to update the information it contains: new case law, new national legislation and recent EU initiatives. Furthermore, chapters on Estonia, Latvia and Lithuania have been added to the already impressive number of jurisdictions covered.
This title, published in association with the International Bar Association, draws together leading practitioners from a wide range of countries, who together provide detailed analysis on the provisions in their jurisdiction for cash pooling and insolvency. Each chapter follows the same template for ease of reference; topics featured include specific legal requirements from various perspectives, the liability of company directors, banking requirements, regulatory requirements and tax.
This practical handbook is an essential guide for any insolvency professional, in-house counsel or adviser in banking and finance.
Contents
Introduction 7
Marcel Willems
Kennedy Van der Laan NV
Cash pooling and the EU Insolvency Regulation 9
Bart de Man
Jeroen Postma
Kennedy Van der Laan NV
Argentina 17
Tomás M Araya
M&M Bomchil Abogados
Mario Benjamín Terán
Lawyer
Daniela A Bianchi
Marval, O'Farrell & Mairal
Austria 35
Arno Brauneis
bkp Rechtsanwälte
Australia 45
Ian Walker
Minter Ellison
Belgium 59
Tom Geudens
Yves Lenders
Pieter Meeus
Lydian
Canada 75
Mary Arzoumanidis
Jeffrey Carolan
Royal Bank of Canada
China 89
Rogier van Bijnen
Kathleen Cao
R&P China Lawyers
Cyprus 105
Venetia Argyropoulou
Alexandra Pelaghias-Christodoulou
Pelaghias, Christodoulou, Vrachas LLC
Czech Republic 121
Ernst Giese
Mária Piacˇková
Giese & Partner, vos
Denmark 135
Carsten Ceutz
Thomas Frøbert
Morten Krogsgaard
Bech-Bruun
England 151
Charles Kerrigan
Olswang LLP
Estonia 173
Martin Mäesalu
Raino Paron
Tõnis Vahesaar
Raidla Ellex
Finland 185
Pekka Jaatinen
Anna-Kaisa Remes
Castrén & Snellman Attorneys Ltd
France 199
Amélie Dorst
Anja Droege Gagnier
BMH Avocats
Germany 213
Daniela Mader
Kirsten Schümann-Kleber
GÖRG
Greece 229
Constantinos N Klissouras
Christina K Papachristopoulou
KP Law Firm
Hungary 243
Melinda Pelikán
Zsófia Polyák
János Tóth
Wolf Theiss
Ireland 257
Daragh Bohan
Frank Flanagan
Mayson Hayes & Curran
Italy 281
Flavio A Acerbi
5Lex
Silvio Cavallo
Domenico Gioia
Paolo Manganelli
Paul Hastings
Cosimo Pennetta
RCC Lex
Japan 323
Naoya Ariyoshi
Maya Ito
Shinsuke Ushirobira
Nishimura & Asahi
Latvia 339
Dia¯na Balkena
BDO Legal
Lithuania 347
Liudgardas Maculevicˇius
Rödl & Partner
Luxembourg 355
Franz Fayot
Laurent Fisch
FischFayot
Mexico 371
Darío U Oscós
Oscós Abogados
Netherlands 379
Marcel Willems
Kennedy Van der Laan NV
Norway 395
Børge Grøttjord
Kari Amalie Pettersen
Grette DA
Portugal 417
Miguel de Avillez Pereira
Gómez-Acebo & Pombo
Hugo Teixeira
Abreu Advogados
South Korea 429
Sang-Jin Ahn
Keum-Ho Lee
Steve Sunghwa Song
Kim and Chang
Spain 441
Maria Luisa de Alarcón
Agustín Bou
Carlos Pol
Jausas
Sweden 459
Kristina Einarsson
Mathias Winge
Setterwalls
Switzerland 471
Benedict F Christ
David Jenny
Nadia Tarolli Schmidt
VISCHER AG
United States 483
Judith Elkin
Judith Elkin PLLC
Kourtney P Lyda
Arsalan Muhammad
Kelli Stephenson Norfleet
Haynes and Boone, LLP
About the authors 505
