Universiteit Leiden

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Business Studies

Insolvency Law: Chair

Within the Department of Business Studies, the chair ‘Insolvency Law’ is also aimed at research in the field of restructuring and insolvency, but more from a legal perspective.

Insolvency law covers procedural issues concerning individuals and legal entities in financial difficulties on the one hand and substantive questions and assessment of the (legal) positions of the debtor and its creditors on the other hand.

The chair ‘Insolvency Law’ is intended to connect the strict legal doctrinal component (such as director’s and shareholder’s liability) with business aspects (such as the concept of mismanagement). The aim of the research conducted in the field of insolvency law is to use social science methodology in order to solve legal doctrinal issues in relation to companies in financial distress to further knowledge and insight in effectivity and efficiency of the various (inter)national insolvency proceedings.

Consequently, our research is practical in nature without losing the focus on fundamental and existential issues concerning insolvency law: what are the objectives and functions of insolvency proceedings? Why do we need trustees and administrators? Why would a director be liable for the deficit in an insolvency? Does the concept of director’s liability have a positive or a negative effect on his behavior? How efficient is remuneration of the trustee/administrator from the estate or is another financing structure more appropriate/effective etc. etc?

The combination of the chair ‘Insolvency Law’ with the chair ‘Turnaround Management’ has created an ideal part of the Department of Business Studies in its research of companies in financial difficulties and restructuring processes and the opportunities to improve their performance or to liquidate in an efficient and effective manner without unnecessary damage.

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