By Wolf-Georg Ringe, Louise Gullifer, Philippe ThÃÂ©ry
Contemporary case-law and laws in ecu corporation and insolvency legislations have considerably furthered the mixing of ecu enterprise rules. specifically, the case-law of the ecu court docket of Justice and the creation of the ecu Insolvency legislation have supplied the stimulus for present reforms in a variety of jurisdictions within the fields of insolvency and fiscal legislations. the united kingdom, for example, has followed the firm Act in 2002, designed, inter alia, to augment firm and to reinforce the UK's method of financial ruin and company rescue. In the same vein, contemporary reform in France has modernized French insolvency legislations and has even brought a device just like the profitable English 'company voluntary association' (CVA). This publication offers a suite of stories via a few of the best English and French specialists at the present time, studying present views of insolvency and fiscal legislations in Europe, either at the nationwide point in addition to at the eu point.
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Extra info for Current Issues in European Financial and Insolvency Law: Perspectives from France and the UK (Studies of the Oxford Institute of European and Comparative Law)
A sensible fixed chargee, however, on seeing a prior registered floating charge, would make enquiries of the floating chargee and, on discovering the negative pledge clause, would come to an arrangement with the floating chargee. It is thought that this is the reason why there are few cases on this particular point, although for a recent case see ABN Amro Bank NV v Chiyu Banking Corp Ltd  2 HKLRD 175 (HK HC). 24 See RM Goode, Legal Problems of Credit and Security (3rd edn, London, Sweet & Maxwell, 2003) 146–7; G Lightman and G Moss, The Law of Receivers and Administrators of Companies (3rd edn, London, Sweet & Maxwell, 2000) 3-081–3.
89 At this point these were just debts owed to employees. 90 Companies Act 1883 s 4. 91 Preferential Payments in Bankruptcy Act 1888 s 1(1). 92 Ibid s 1(3): ‘Subject to the retention of such sums as may be necessary for the costs of administration or otherwise, the foregoing debts shall be discharged forthwith so far as the . . assets of the company . . ’ 93 Re Marine Mansions Co (1867) LR 4 Eq 601; Re Oriental Hotels Co (1871) LR 12 Eq 126; Regent’s Canal Ironworks Co, Re, ex p Grissell (1875) 3 Ch D 411 (CA); Richards v Overseers of Kidderminster  2 Ch 212 (Ch); Re Waverley Type Writer  1 Ch 699 (Ch).
122 Insolvency Practices Council, Annual Report 2005; City of London Law Society Insolvency Law Committee report 13 March 2006. 123 See text above at n 67. 124 This is a particular problem in whole-business securitisations, where there are likely to be tax or other outside liabilities. 125 The detail of these controls will be in the Rules governing the operation of s 1282, which are still in the process of being drafted. 126 S 1282 introduces a new s 176ZA into the Insolvency Act 1986 which reads: (1) The expenses of winding up in England and Wales, so far as the assets of the company available for payment of general creditors are insufficient to meet them, have priority over any claims to property comprised in or subject to any floating charge created by the company and shall be paid out of any such property accordingly.