, hereafter identified as Keay's text, and Directors' Duties During Insolvency by Allens Arthur Robinson, hereafter identified as … considered an insolvency practitioner's guide. However, both texts contain elements of interest for academics and insolvency …

In the field of corporate insolvency law, European Union legislation has aimed to promote the availability and success … restructuring and insolvency, which contains provisions that specifically focus on early restructuring actions, as soon as there is … a likelihood of insolvency. When a company is in the pre-insolvency situation, directors must react to the relevant …

transactions in insolvency. Existing ‘best practice' guidance on the design of insolvency laws assumes that such avoidance rules … are best operationalised within collective insolvency procedures. But in many jurisdictions the commencement of collective … insolvency proceedings is value destructive; so much so that creditors may prefer to see firms fail outside such proceedings …