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Hindsight bias in insolvency law: foresight in retrospect

A mini-seminar hosted by Reinout Vriesendorp
Academiegebouw, Rapenburg 73, 2311 GJ Leiden, The Netherlands
Thursday 23 June 2016 - Now just two weeks away

Scholars and lawyers come across situations where insolvency office holders (court-appointed administrators/trustees) of insolvent/bankrupt companies chase the company’s directors, and sometimes shareholders, because the directors/shareholders did not prevent the insolvency/bankruptcy. In addition, the insolvency office holders may initiate proceedings against those parties, claiming mismanagement, damages or even the entire deficit, in order to ‘reconstruct’ (or reconstitute) the bankruptcy estate.
 
Occasionally, an insolvency office holder has an interest in the outcome of these proceedings or settlement because the proceeds will be used to cover his costs and salary. The sole fact that the company went bankrupt becomes a factor (and presumption) of wrongful acts by the directors and the burden of proof of the contrary shifts to them. Subsequently, a court from time to time seems to have difficulty in recognising and/or considering the risk of hindsight bias in its judgment regarding the behaviour of directors.
 
The hindsight bias issue with recent developments abroad will be the subject of a mini-seminar in English with contributions from various foreign jurisdictions, including Belgium, Germany, Italy, Netherlands, and UK, and potentially France and Spain.
 
The mini-seminar hopes to foster a debate about possible cross-border experiences and solutions. Consequently, INSOL Europe has adopted the seminar and labelled as an INSOL Europe Academic Forum event.

For further information and a full technical programme, visit our website here.

 

The Academic Forum is pleased to announce the generous sponsorship of 
Shakespeare Martineau and their support for group activities in 2014-2017.

INSOL Europe, P O Box 7149, Clifton, Nottingham. NG11 6WD. Tel/Fax : +44 115 8780584
www.insol-europe.org
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