International Insolvency and Finance Law: Legal Constants in Times of Crises

This book examines the discourse on risk and uncertainty in the markets through the lens of financial crises, such as the Global Financial Crisis 2007-2010 and the new emerging Covid-19 crisis in 2020. It argues that crises impose a dramatic reformulation of the law and that new out-of-law instances such as moratorium agreements and private workouts have become essential to preserve businesses. It also demonstrates the role of comparative law in formulating legal constants using Covid-19 and the complexity of modern financial markets as the criterion to introduce the reader to this new theory, which claims a new role for comparative law in policy-making processes within the framework of international economic law.

Format: Paperback / softback
Length: 88 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

The book delves into the discourse on risk and uncertainty in the markets, particularly during the Global Financial Crisis (GFC) of 2007-2010 and the subsequent emergence of the Covid-19 crisis in 2020. These crises serve as a failure of the law to regulate, providing an opportunity to introduce a new theory of legal constants in comparative law. The crises impose a significant restructuring of the law, with the Covid-19 pandemic further confirming this trend. Additionally, new out-of-law mechanisms such as moratorium agreements and private workouts have become essential for businesses to survive. It is evident that the role of the law has undergone a profound transformation, and this book argues that constants outside of the law are emerging as new avenues to promote an "uncodified-codification" of the law.

The Covid-19 crisis presents a compelling case for uncodified uncertainty, highlighting the importance of out-of-law instances in the legalmaking process. This book explores how this approach influences the harmonization of international economic law between national insolvency regimes and international agreed frameworks. It demonstrates the role of comparative law in formulating legal constants using the Covid-19 crisis as a criterion, highlighting the complexity of modern financial markets as the framework for introducing this new theory. The book asserts that comparative law has a vital role to play in policy-making processes within the framework of international economic law.

In conclusion, the book offers a comprehensive examination of the discourse on risk and uncertainty in the markets, particularly during financial crises. It advocates for a new theory of legal constants in comparative law, highlighting the importance of out-of-law instances and the role of comparative law in shaping legal norms in the face of evolving financial markets. The book provides valuable insights for scholars, policymakers, and practitioners interested in understanding the dynamics of risk and uncertainty in the global economy.

Weight: 180g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032243795