knowledge center

In today’s cosmopolitan world, borders are becoming more fluid as a growing number of people migrate for work to neighbouring and more distant countries where they encounter very different approaches to employment law. Similarly, investors extend their activities beyond the “safe” territories of their headquarters and established offices, and venture more and more often too far away countries offering new business opportunities. The opportunity to get basic information on employment legislation in individual countries in one publication and to be able to easily and quickly compare different jurisdictions is therefore nowadays very convenient. 

That is the purpose of this unique publication comprising information on employment regulation in 35 countries across the globe, which has been created thanks to the joint efforts and close cooperation of the members of The Law Firm Network and their partner law firms. The systematic structuring of texts will give the reader a comprehensive idea of employment regulation, human resource costing and national specifics in different jurisdictions. We strongly believe that this collection will serve its purpose well and will become a useful tool in the hands of employment lawyers.

This country-by-country guide aims at providing a practical introduction for all those re-sponsible persons dealing with cross-border contracts by giving a general description of the legal system at the beginning of each country chapter and dealing with certain issues often faced in (cross-border) contracts. While the emphasis is on the setting of a sales contract, the main issues covered may also become relevant in other settings. This guide may give an indication if and in which manner an issue is usually dealt with under local law in each of the jurisdictions. This may help the reader to achieve an appropriate out-come in its business negotiations.

It is important to note that the challenges faced by the parties of a cross-border contract may vary significantly. Therefore, the persons responsible are well advised to seek inde-pendent professional advice to identify potential pitfalls at an early stage.

In the today’s globalised economy, companies engage in business around the world, contracts are entered into with business partners across jurisdictions and the companies’ creditors and debtors are spread across the world and assets are located in more than one jurisdiction. The globalization of these business activities creates additional challenges for companies facing financial difficulties. On the other hand, insolvency and restructuring laws are mostly territorial which makes managing cross border insolvencies a challenging task.

This Directors Liability Guide focuses on the duties of the directors of distressed companies and is aimed at providing the members of the board of directors with guidance on how to best weather the storm. It is important to note that the challenges faced by companies in financial distress vary from company to company and from jurisdiction to jurisdiction. Therefore, the members of the board of directors are well advised to seek independent professional advice, to identify potential pit falls and director liability issues at an early stage.

Together we have provided a practical introduction to the real issues for distressed companies and their creditors, addressing commercial realities.

In the guide we have focussed on the following:
1. The issues arising for a company when it is in financial difficulty.
2. The available processes and necessary considerations for companies thinking of taking action to restructure or seek insolvency protection.
3. The issues for secured and unsecured creditors of companies in financial difficulty.
4. Financing options available and the necessary considerations for companies that wish to continue trading during a restructuring or insolvency process.
5. Alternative restructuring processes that can be undertaken without the need for court procedures.
6. The need for international interaction and the cross border issues affecting distressed companies and their creditors.

We hope it becomes your first point of reference. Should you need further advice or expertise then you should contact the relevant individual contributors.