Title Going for Broke
Subtitle Insolvency Tools to Support Cross-Border Asset Recovery in Corruption Cases
Author Jean-Pierre Brun, Molly Silver
ISBN 9781464814389
List price USD 39.95
Price outside India Available on Request
Original price
Binding Paperback
No of pages 148
Book size 178 x 254 mm
Publishing year 2020
Original publisher The World Bank
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
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Description:

The cost of official corruption is high: it degrades public trust, impedes economic development, and undermines the rule of law. Countries around the world are increasingly using asset recovery measures to pursue justice in official corruption cases and restore funds to public use. Successful application of bankruptcy or insolvency law can make or break a corruption case.

Going for Broke: Insolvency Tools to Support Cross-Border Asset Recovery in Corruption Cases is intended as a guidebook for asset recovery practitioners for the use of bankruptcy proceedings in their work. It is offered as a complement to our prior texts: Public Wrongs, Private Actions and Asset Recovery Handbook.

Going for Broke offers practical advice to inform insolvency representatives, law enforcement officials, policy makers, and those entrusted with recovering their nations’ stolen assets about the ways in which insolvency can be effectively be employed—either to complement an existing civil or criminal asset recovery action or as a stand-alone procedure for recovery. It may also serve as a quick reference for other practitioners, including auditors, accountants, and others who deal with corruption and asset recovery.


Contents:

Acknowledgments

About the Authors

Abbreviations

Glossary

Introduction • Objective • Scope • Methodology • Overview of Chapters • Notes • References

Chapter 1. Insolvency Proceedings and Representatives • Moratorium • Appointment of an Insolvency Representative • The Different Authorities that May Appoint Insolvency Representatives • Specific Rules and Practices for an Insolvent Bank • Effects of the Appointment of an Insolvency Representative • Cross-Border Recognition and Conducting Insolvency Actions Abroad • Powers of Insolvency Representatives in Asset Recovery • Tools Available to Collect Information and Evidence • Legal Actions that Authorize Insolvency Representatives to Claim Assets • Notes • References

Chapter 2. Investigative Measures Potentially Available in Insolvency and Civil Cases • Extrajudicial Investigative Tools • Discovery Databases as a Source of Information • Examination of Witnesses under Standard Insolvency Practices • Targets of Examination • Range of Examination • Use of Information • Costs of Examination • Discovery • Nonstatutory Tools • Anton Piller (Search and Seizure) Orders • Norwich Pharmacal (Disclosure) Orders in Common Law Jurisdictions • Ancillary Sealing and Gagging Orders • Other Investigative Tools • Mareva Injunctions and Mareva by Letter in Common Law Jurisdictions • Freezing Orders in Civil Law Jurisdictions • Discovery in Aid of Foreign Proceedings • Notes • Reference

Chapter 3. Identifying Insolvency and Receivership Targets and Other Liable Persons in Corruption Cases • Bribe Takers and Related Entities • Bribe Payers and Related Entities • Agents and Other Facilitators • Strategic and Tactical Considerations • Claims against Corporate Officers, Agents, and Third-Party Facilitators • The Duties of Directors and Managers of Companies • Personal Liability Actions against Directors • Proceedings for Fraudulent or Wrongful Trading • Preferences and Transactions at Undervalue • Other Breaches of Duty • Derivative Actions • Piercing the Corporate Veil • Notes • References

Chapter 4. Privilege • Privilege in England • Forms of Privilege at Common Law • Common Interest Privilege • Which Law Applies? • Waiver • Insolvency • Privilege in the United States • Corporate Insolvency • Personal Insolvency • Professional Secrecy in France • Scope and Application of the Professional Secret • Sanctions for Violation of Professional Secrecy by an Attorney • Issues Relating to Corporate Insolvency and Bankruptcy Proceedings • Issues Relating to Individual Insolvency • Conclusion • Notes

Chapter 5. Further Issues on the Use of Insolvency for Asset Recovery • Major Challenges for Asset Recovery in Developing Jurisdictions • Commencement Obstacles • Unregulated or Insufficiently Regulated Insolvency Representatives • Ineffective or Nonexistent Anti-Avoidance System • Slow, Unresponsive, or Inexperienced Judicial Systems and Lawyers • Ineffective or Nonexistent Collateral Registry Systems • Impediments to Enforcement • Transparency and Accountability of Legal Insolvency Frameworks • Recognition and Use of Laws and Proceedings in Cross-Border Insolvency • The UNCITRAL Model Law on Cross-Border Insolvency • United Kingdom Cross-Border Insolvency Regulations 2006 • International and Institutional Considerations • International Considerations • The Conflict between State Confiscation of Criminal Assets and Insolvency Proceedings • Notes • References

Appendix A. Country-Specific Regulations for Insolvency Representatives

Appendix B. Website Resources

Boxes


About the Authors:

Jean-Pierre Brun is a senior financial specialist at the World Bank. He worked as a prosecutor and investigative judge in France and as a director of forensic and fraud investigations at Deloitte Finance in Paris. In 2008, he joined the World Bank, where he works on anti–money laundering, terrorist financing, illicit financial flows, and stolen asset recovery, providing technical assistance and training to investigators, prosecutors, and judges dealing with financial crime. He is the lead author of various publications, including Asset Recovery Handbook: A Guide for Practitioners, Public Wrongs–Private Actions: Civil Lawsuits to Recover Stolen Assets, and Identification and Quantification of the Proceeds of Corruption.

Molly Silver is a consultant in the Finance, Competitiveness, and Innovation Group at the World Bank. She previously served as a presidential management fellow in the departments of Treasury and Defense. She then worked on international policy strategy at technology companies, including Facebook, Inc., and Palantir Technologies. Molly studied political science as an undergraduate at New York University and American foreign policy as a graduate student at the Johns Hopkins School of Advanced International Studies.


Target Audience:

This book is for the people interested in asset recovery practitioners, law enforcement officials, policy makers, auditors and accountants.

 
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