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Contents
- Preliminary Material
- Preface
- Contents—Summary
- Contents
- Table of Cases
- Tables of Legislation
- Argentina
- Australia
- Austria
- Belgium
- Brazil
- Canada
- Chile
- China
- Czech Republic
- Denmark
- England
- Finland
- France
- Germany
- Hong Kong
- Ireland
- Italy
- Japan
- Luxembourg
- Mexico
- Netherlands
- New Zealand
- Poland
- Portugal
- Romania
- Russian Federation
- Singapore
- South Africa
- South Korea
- Spain
- Sweden
- Switzerland
- Turkey
- United States of America
- EU Legislation
- International Legislation
- List of Contributors
- Summary of Set-Off Law in the Countries Covered in this Book
- Main Text
- 1 Introduction
- 2 Argentina
- 3 Australia
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- D Cross-border Issues
- 3.64
- 1 Choice of law
- 2 Set-off in insolvency
- 3 Effect of these proceedings on set-off
- E Summary
- 4 Austria
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- D Cross-border Issues
- E Summary
- 5 Belgium
- 6 Brazil
- 7 Canada
- 8 Chile
- 9 China
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- 1 Introduction
- 2 Requirements for insolvency set-off
- 3 Procedures for exercising insolvency set-off rights
- 4 Set-off right in the context of close-out netting in OTC derivatives
- 5 Restrictions on unfair preference for creditors and set-off
- 6 Restrictions on banks’ set-off rights against deposits
- 7 Set-off vis-à-vis clearing houses
- 8 Pending developments
- D Cross-border Issues
- E Summary
- 10 Czech Republic
- 11 Denmark
- 12 England
- 13 Finland
- 14 France
- 15 Germany
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- 1 Introduction to the German Insolvency Statute, ‘InsO’
- 2 Acquisition of the right to set off before insolvency proceedings are opened
- 3 Set-off between two insolvency administrators
- 4 Acquisition of the right to set-off after insolvency proceedings are opened
- 5 Prohibition of set-off (section 96 InsO)
- 6 Set-off and contestation in insolvency proceedings
- 7 Cash pooling in insolvency proceedings
- 8 Burden of proof
- D Cross-border Issues
- E Summary
- 16 Hong Kong
- 17 Ireland
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- D Cross-border Issues
- E Summary
- 18 Italy
- 19 Japan
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-Off against Insolvent Parties
- D Cross-border Issues
- E Summary
- 20 Luxembourg
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- D Cross-border Issues
- 20.27
- 1 Cross-border set-off between solvent parties
- 2 Cross-border set-off against insolvent parties
- Cross-border set-off against insolvent parties where the EU Insolvency Regulation or the Recast Insolvency Regulation, as applicable, or another sector-specific European insolvency legislation, applies
- Cross-border set-off against insolvent parties where neither the EU Insolvency Regulation or the Recast Insolvency Regulation, as applicable, nor any other sector-specific European insolvency legislation applies
- E Summary
- 21 Mexico
- 22 The Netherlands
- 23 New Zealand
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- 1 Current-account set-off (or the banker’s right of combination)
- 2 Independent set-off (or legal set-off)
- 3 Transaction set-off (or equitable set-off)
- 4 Contractual set-off
- 5 Contractual set-off and competing security interests under the PPSA
- 23.17
- 23.18
- 23.19
- 23.20
- 23.21
- Application of PPSA to right of set-off
- PPSA does not exclude rules at common law and of equity
- Section 102 of the PPSA contains rules for priority of interests on assignment of account receivable
- Which types of set-off do section 102(1)(a) and section 102(1)(b) deal with?
- Do knowledge of assignment and defences or claims accruing after notice of assignment play any role in section 102(1)(a)?
- What is the effect under section 102 of contractual prohibition on creation of assignments?
- C Set-off against Insolvent Parties
- 23.40
- 1 Set-off in liquidation
- 2 Set-off in voluntary administration
- 3 Insolvency set-off and competing security interests under the PPSA
- 4 Is a subordinated debt eligible for insolvency set-off in liquidation?
- 5 Netting insolvency set-off in liquidation and voluntary administration
- 6 Statutory management set-off
- 7 Designated payment systems
- D Cross-border Issues
- E Summary
- 24 Poland
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- D Cross-border Issues
- E Summary
- 25 Portugal
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- D Cross-border Issues
- E Summary
- 26 Romania
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- 1 Legal set-off
- Requirements for a legal set-off
- First requirement: mutual claims
- Second requirement: certain, liquid, and mature claims
- Third requirement: interchangeable items of the same kind and type
- Fourth requirement: the parties have not waived the application of the set-off
- Exceptions and restrictions to a legal set-off
- Effects of a legal set-off
- 2 Contractual set-off
- 1 Legal set-off
- C Set-off against Insolvent Parties
- D Cross-border Issues
- E Summary
- 27 Russian Federation
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off between Insolvent Parties
- D Cross-border Issues
- E Summary
- 28 Singapore
- 29 South Africa
- 30 South Korea
- 31 Spain
- Preliminary Material
- A Introduction
- B Set-off between Solvent Parties
- C Set-off against Insolvent Parties
- 1 General rule: prohibition of set-off against an insolvent debtor
- 2 Set-off is allowed if its requirements were satisfied prior to the declaration of insolvency
- 3 Are there exceptions to the prohibition of set-off?
- 4 Set-off in financial transactions subject to RDL 5/2005
- 5 Other exceptions to the prohibition of set-off
- D Cross-border Issues
- E Summary
- 32 Sweden
- 33 Switzerland
- 34 Turkey
- 35 United States of America
- Further Material
