Symposium: Business Rescue Law Reform in Australia and the EU

ROCIT Research Unit, Adelaide Law School, in conjunction with EU Centre for Global Affairs

National Wine Centre, Adelaide on Thursday 16 March 2017, 8.45am-3pm

Are our business rescue laws still fit for purpose? How can they better assist directors to preserve value before it’s too late, but still protect other stakeholders including the public interest? Does one size fit all? Australia’s corporate rescue laws are 23 years old and recent reform have prompted the Federal Government to propose initiatives towards early intervention and more effective corporate restructuring, and these are likely to be implemented in 2017.

We all face similar challenges in maximising business value in distress situations, despite variations between law, practice and culture. Moreover, these days financial distress of major companies and groups  rarely stops at domestic borders. Therefore international and regional structures for harmonisation and cooperation need to be facilitated and enhanced.  In the EU, the Insolvency Regulation 2000 on cross-border insolvency was recast in 2015, fully effective from June 2017. In 2014, as part of its Capital Markets Union Action Plan, the Commission recommended a new approach to business failure, and commissioned a comparative report from a team at Leeds University, which reported in 2016. In late 2015 an Expert Group was appointed to assist the EC in preparation of detailed recommendations, which are expected to be published in late 2016.

This timely symposium in Adelaide will examine the current law reforms in both the EU and Australia, expected to be implemented in 2017. Our speakers are leading experts involved in putting existing laws through their paces, as well as shaping proposals for their improvement.

Soak up some Adelaide sun, wine at the symposium’s dedicated venue, or drive to our world-famous wine regions;  catch international arts week at the Adelaide Festival (adelaidefestival.com.au), and still be in Sydney the next week for the world INSOL Congress (insol.org – 19-22 March)

Professor Gerard McCormack, Professor of International Business Law, University of Leeds- ‘Business Restructuring in Europe: Making a Fresh Start’
Gerard is a leading international academic in the fields of insolvency, commercial law and property rights, with a particular research interest in international and European harmonisation and regulation. He has been Principal Investigator on a number of recent major European Commission projects in the areas of insolvency and secured transactions.

David Proudman, Partner, JWS, Sydney- Reviewing the Tool Box- the Arrium Experience
David is a leading Australian restructuring and insolvency lawyer, former member of CAMAC, and past national (and South Australia) Chair of the Law Council of Australia’s Insolvency and Restructuring Committee. Formerly working out of the Adelaide JWS office, David is now based in Sydney.

Professor Dr. Michael Veder, Radboud University, Nijmegen – Proposed pre-insolvency restructuring laws: is Europe on the Right Track?
Michael is also an adjunct professor at Nottingham Trent University, and an attorney at RESOR NV, Netherlands. He is currently a member of the European Commission Expert Group on Business Rescue Law and has been an adviser to the IMF and the Netherlands government.

Associate Professor Jason Harris, Faculty of Law, UTS, Sydney- The efficacy of Voluntary Administration- an empirical approach
Jason is a leading scholar and author in insolvency, corporate and commercial law. He is Director of ARITA’s Restructuring and Insolvency Certificate delivered by UTS. Jason is a PhD candidate at the University of Adelaide, and will share some of his research findings on VAs.

Associate Professor David Brown, Adelaide Law School, Co-Director ROCIT (Regulation of Corporations Insolvency and Taxation) Unit- commentator
David is a well-known academic in insolvency, property and secured transactions and has worked in several countries. David was an adviser to the New Zealand government and New Zealand Law Commission on insolvency law reform and author of a major work on Corporate Rescue.

Where: National Wine Centre, Adelaide

When: Thursday, 16 March 2017, 8.45am – 3pm

Registration: Please click here to register

Ticket Type:
Early Bird: ends 15 December $165
Standard: after 15 December $220
Full Time Students or Adelaide Law School Academics: $165

Lunch and refreshments included.

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