A Review of the Libyan Insolvency and Restructuring Laws Informed by Insolvency Law Theory and Inter...

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" A Review of the Libyan Insolvency and Restructuring Laws Informed by Insolvency Law Theory and International Benchmarks "
Hosen, Emad-edden Rajab A. Parry, Rebecca

Document Type	:	Latin Dissertation
Language of Document	:	English
Record Number	:	1057495
Doc. No	:	TL56612
Main Entry	:	Hosen, Emad-edden Rajab A.
Title & Author	:	A Review of the Libyan Insolvency and Restructuring Laws Informed by Insolvency Law Theory and International Benchmarks\ Hosen, Emad-edden Rajab A.Parry, Rebecca
College	:	Nottingham Trent University (United Kingdom)
Date	:	2020
Degree	:	Ph.D.
student score	:	2020
Note	:	342 p.
Abstract	:	The research aims to evaluate the adequacy of the insolvency system in Libya to support the national desires and objectives identified in the country to enhance the national economy and to maintain social stability. The thesis considers the need for reform in the current business insolvency and rescue framework taking into account the country’s domestic circumstances. To conduct this evaluation, the research reviews the Libyan insolvency law by examining the theoretical approaches to corporate insolvency laws in order to understand the role that should be played, or the goal that should be reached, by the insolvency law. This is important to identify whether the insolvency and rescue laws should be concerned only about maximising economic interests or should be concerned also about wider societal interests and objectives. The study also undertakes an in depth evaluation of the current business insolvency and rescue framework by using the international benchmarks with particular reference to the UNCITRAL Legislative Guide on Insolvency Law. The thesis establishes that the current insolvency law is insufficient to promote the economic and social goals of the country because of both the deficiency of the legislative framework and inefficient institutions. The investigation reveals also that an application of the social justice theory as traditionally perceived by the Civil Code 1953 (as manifested in property law and contract law) that is primarily designed to achieve social goals (for example, the priority given to the wide-ranging category of privileged creditors over secured creditors) prevents the insolvency law from achieving the sought-after objectives leaving much to be desired for a reform. The research builds on these foundations to identify challenges and impediments to the development of the insolvency and rescue regime of Libya.
Descriptor	:	International law
	:	International relations
	:	Law
	:	Political science
	:	Public policy
Added Entry	:	Parry, Rebecca
Added Entry	:	Nottingham Trent University (United Kingdom)