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Durham University

Durham Law School

Staff profile

Publication details for Ms Lana Ashby

Ashby, Lana (2014). Priority and rescue financing in the Commonwealth Caribbean: lessons from the United States of America, United Kingdom and European Union. Commonwealth Law Bulletin 40(2): 317-340.

Author(s) from Durham


In investigating the operation of the rescue culture in the Commonwealth Caribbean as compared to the United Kingdom administration regime and Chapter 11 of the United States Bankruptcy Code, this paper laments that the Commonwealth Caribbean and the USA fail to consider key issues of post-petition priority for finance. It also delves into a critical, but overlooked, pillar of strong rescue frameworks: access to finance. Taking guidance from the European Union framework on state aid and the UK Funding for Lending and National Loan Guarantee, the author proposes a fair, transparent and efficient framework encompassing state involvement and state-driven private sector engagement.