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Inventory Report on International Recommendations from Standard-Setting Organisations: Correspondent: Gert-Jan Boon

in Rescue of Business in Europe: A European Law Institute Instrument

Various instruments referred to in this Report also include a set of definitions. Therefore, when reference is made to specific recommendations in this Report, these definitions still apply. In ... More

Various instruments referred to in this Report also include a set of definitions. Therefore, when reference is made to specific recommendations in this Report, these definitions still apply. In addition, the following definitions are provided: Business rescue: Except where specified otherwise, references to business rescue should be understood as encompassing both the rescue of the debtor (such that the entity itself survives) and the rescue of the debtor’s business on a going-concern basis (whether or not the business continues to 1090 be carried on in the same entity). Less

The Role of International Institutions

Alan M. Rugman and Jonathan P. Doh

in Multinationals and Development

This chapter examines the international institutions—such as the World Trade Organization (WTO), the World Bank, and the International Monetary Fund (IMF)—that are central players in the economic ... More

This chapter examines the international institutions—such as the World Trade Organization (WTO), the World Bank, and the International Monetary Fund (IMF)—that are central players in the economic development of developing economies. It reviews the historic evolution of the multilateral institutions established in the post-Bretton Woods environment—the World Bank, the IMF, the WTO, and the United Nations—and assesses their contribution to development. The chapter then reviews the role of regional institutions—the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank, and the Asian Development Bank—and agreements, for example, the North American Free Trade Agreement, and assesses their contribution to development. It also focuses on two initiatives—the Doha Development Round of the WTO and the Millennium Development Goals—as concrete examples of efforts by the multilateral system to focus specifically on contemporary development challenges.Less

The Rise, Fall, and Return of Promotional Banking in Greece

Jens Bastian

in The Reinvention of Development Banking in the European Union: Industrial Policy in the Single Market and the Emergence of a Field

This chapter studies the case of Greece as one of the few countries in which a fully-fledged development bank is still lacking at the time of writing. While a Hellenic Development Bank is in the ... More

This chapter studies the case of Greece as one of the few countries in which a fully-fledged development bank is still lacking at the time of writing. While a Hellenic Development Bank is in the making, development finance took a contested trajectory over the past thirty years. Beginning with the conglomeration and then privatization of the former industrial development bank, ETBA, Greece became familiar with a fragmented and crowded field of development finance domestically, populated by Greek, foreign, and multilateral development actors. In the context of severe crisis and stark political tensions over the past decades, it is unclear what success a new national development institution will have.Less

Public Procurement in Global and Regional Trade Agreements: Lessons Learned in Armenia

Eliza Niewiadomska and Astghik Solomonyan

in The Internationalization of Government Procurement Regulation

The EBRD-UNCITRAL Public Procurement Reform Initiative is a technical cooperation program of the European Bank for Reconstruction and Development (EBRD) and the United Nations Commission for ... More

The EBRD-UNCITRAL Public Procurement Reform Initiative is a technical cooperation program of the European Bank for Reconstruction and Development (EBRD) and the United Nations Commission for International Trade Law (UNCITRAL). The Initiative promotes the modernization of national public procurement systems and supports reform projects in transition countries designed to develop modern public procurement policies. This chapter explains the EBRD-UNCITRAL Initiative’s unique technical cooperation concept and discusses the challenges faced by the Initiative’s experts’ team working in Armenia, in particular how the 2011 UNCITRAL Model Law is used as a regulatory tool to bridge the gap between the regional and global trade agreements, that is, the Eurasian Economic Union Treaty (EEUT) and the WTO’s Agreement on Government Procurement (GPA) and their respective requirements for public procurement policies.Less

Actors and Procedural Design

Bob Wessels and Stephan Madaus

Bob Wessels and Stephan Madaus (eds)

in Rescue of Business in Europe: A European Law Institute Instrument

This chapter covers the procedural foundation of restructuring processes and insolvency proceedings. It starts off with defining the roles of the key actors in such processes and proceedings (para ... More

This chapter covers the procedural foundation of restructuring processes and insolvency proceedings. It starts off with defining the roles of the key actors in such processes and proceedings (para 55ff) before setting out conditions for out-of-court workouts and supporting frameworks (para 224ff), the conditions for formal restructuring and insolvency proceedings (para 264ff), as well as termination of unsuccessful rescue attempts, including their conversion into another proceeding (para 318ff). Less

US Hegemony for What?: From Accountability as Control to Accountability as Justice for the MDBs

Susan Park

in The Good Hegemon: US Power, Accountability as Justice, and the Multilateral Development Banks

This chapter examines how providing recourse to people harmed by MDB financed projects was promulgated by donor shareholders, pivotally the United States. It traces how the demand for accountability ... More

This chapter examines how providing recourse to people harmed by MDB financed projects was promulgated by donor shareholders, pivotally the United States. It traces how the demand for accountability resulted from dissatisfaction with MDB performance and activist campaigns revealing large-scale harm. The US history of using accountability as control for the MDBs is articulated, to which concerns of justice were added. The design of the World Bank’s Inspection Panel reflected US demands for accountability as justice. The United States used its power of the purse, vote, and voice to press for the accountability as justice norm in the Inter-American Development Bank, the Asian Development Bank, and the World Bank Group, the European Bank for Reconstruction and Development, and the African Development Bank. The banks sought to compromise over the norm. Outside the high-profile campaigns against the World Bank and World Bank Group, the MDBs designed accountability mechanisms with limited independence.Less