A behavioural law and economics perspective on EU restructuring and insolvency law
- The article discusses the relevance of behavioural insights in policy making by the European legislator when drafting the European Union Directive on restructuring and insolvency. The Directive imposes an obligation on the Member States to arrange for preventive restructuring frameworks, which will incentivize debtors in sight of distress but with a viable business model to renegotiate with creditors at an early stage. Early negotiations for restructuring would preserve these viable businesses instead of liquidating them through insolvency, thereby benefitting the Member States’ national economies as well as the European internal market.
| Author: | Annika WolfORCiD |
|---|---|
| DOI: | https://doi.org/10.4337/9781786437471.00040 |
| ISBN: | 9781786437471 |
| Parent Title (English): | Research Handbook on Corporate Restructuring |
| Publisher: | Edward Elgar Publishing |
| Place of publication: | Cheltenham |
| Editor: | Paul J. Omar, Jennifer L. L. Gant |
| Document Type: | Part of a Book |
| Language: | English |
| Year of Completion: | 2021 |
| Release Date: | 2025/03/05 |
| Tag: | behavioural law; economics perspective; insolvency law |
| First Page: | 513 |
| Last Page: | 524 |
| Institute: | Fachbereich Wirtschaft |
| Research Focus Area: | Ressourcenorientierung im Spannungsfeld von Individuum und Gesellschaft (ROSIG) |