Riz Mokal

Riz Mokal

PhD (UCL, 2002), BCL (Oxon, 1998), LLB (UCL, 1996), BSc (Pb, 1993), Barrister (Gray’s Inn, 1997)

Professor of Law and Legal Theory

+44 (0)20 3108 8358

riz.mokal@ucl.ac.uk

Riz Mokal holds the Chair of Law and Legal Theory at University College London, is a Visiting Professor at the University of Florence, and has previously held a research position at Cambridge University. His scholarship — which ranges over financial sector regulation, bankruptcy, property and trusts, and legal theory — has influenced law reform in the UK, and has been cited with approval by several courts, including the House of Lords, the Australian High Court, and the Courts of Appeal of England & Wales, New Zealand, Ontario, and Victoria.

From 2009 to 2013, Riz was Senior Counsel to the World Bank, and headed the Bank’s Global Initiative on Insolvency and Creditor/Debtor Regimes. Since then, he has served as Senior Law Reform Consultant to the Bank. In these capacities, he has advised the governments of some twenty countries in Africa, Asia, and Europe on reform of insolvency and creditor/debtor systems. His work involves policy analyses of national legal and regulatory regimes, helping national authorities to rewrite legislation and strengthen judicial capacity, and engagement with the full range of stakeholders.

As part of the World Bank’s delegation to the United Nations Commission on International Trade Law from 2009 to 2013 and of the United Kingdom delegation since, Riz has been an active participant in the Commission’s work on insolvency law. His particular focus has been on the bankruptcy of cross-border enterprise groups, the duties of directors in the period approaching bankruptcy, and the enforcement of bankruptcy-derived orders and judgments.

Riz is a member of the editorial boards of the journals Current Legal Problems, International Corporate Rescue, and the International Journal of Law in Context. He has taught on programmes related to London University’s External LLB, and at Brunel University. He has also practised as a barrister from South Square Chambers in London, advising on insolvency, restructuring, trust and property law issues in England and several British Commonwealth jurisdictions.

Riz has been teaching at the Faculty since October 1996, joined it full-time in March 2001, and was a Reader from 2004 to 2008. He graduated from the Faculty with an LLB in 1996 and a PhD in 2002, and is the recipient of numerous academic prizes, scholarships and awards. He has co-chaired the UCL Colloquium on Legal and Social Philosophy, and was the founding chair of the UCL Laws Postgraduate Board of Examiners.

Policy Documents prepared for National Governments

Reports on the Observance of Standards and Codes (‘ROSCs’)

As part of his work at the World Bank, Riz co-authored several IMF/World Bank Reports on the Observance of Standards and Codes (‘ROSCs’) on Insolvency and Creditor/Debtor Regimes. These diagnostic reports, usually confidential to the Government requesting them, provide analysis and recommendations for legislative and regulatory reform. ROSCs are based on analysis of legal and regulatory texts complemented by information derived from surveys and a comprehensive range of meetings with key public and private sector stakeholders, including those from the Ministries of Justice, Finance, and Economy; the Central Bank; senior judiciary; credit history and security interest registries; financial institutions; chambers of commerce and industry; and legal, in-solvency, audit, and financial consultancy professionals. ROSCs are peer-reviewed by World Bank specialists and international and/or national experts. The ROSCs co-authored by Riz include:

  • Vietnam (2013)
  • Romania (2013)
  • Kenya(2013)
  • Bangladesh (2013)
  • Kosovo (2012)
  • Russia (2012)
  • Kuwait (2012)
  • Mongolia (2012)
  • Saudi Arabia (2010)

 

Other Co-authored Policy Documents

  • Vietnam – Restructuring of banking and state-owned enterprise sectors (2013)
  • Ukraine – Assessment of and input into several draft statutes on debtor/creditor issues (2013)
  • Kenya – Assessment of and input into Insolvency and Company Bills (2012)
  • Croatia – Assessment of draft statute on credit claim enforcement (2012)
  • Belarus – Restructuring of state-owned enterprise sector (2012) – Winner, World Bank Team Award
  • Latvia – Assessment of debt resolution legal and regulatory framework (2012)
  • Pakistan – Assessment of draft Corporate Rehabilitation Bill (2010-2011)
  • Turkey – Assessment of enterprise insolvency framework (2010)
  • Egypt – Assessment of debt resolution legal and regulatory framework (2009)

 

Publications

The abstracts and ‘working paper’ versions of several of the following can be found on the Social Science Research Network.

Books or Book Chapters:

Corporate Insolvency Law – Theory and Application (Oxford: OUP, 2005)

Rizwaan Jameel Mokal and Daniel Lightman, ‘Duties and Liabilities of Administrators’, in Sir Gavin Lightman, Gabriel Moss, Ian Fletcher and Richard Snowden QC (eds.), The Law of Receivers and Administrators of Companies (London: Sweet & Maxwell, 2007)

Daniel Lightman and Rizwaan Jameel Mokal, ‘Duties and Liabilities of Administrative Receivers, in Sir Gavin Lightman, Gabriel Moss, Ian Fletcher and Richard Snowden QC (eds.), The Law of Receivers and Administrators of Companies (London: Sweet & Maxwell, 2007)

Robin Dicker QC, Adam Goodison, and Rizwaan Jameel Mokal, ‘Voluntary Arrangements (Companies)’, in Peter Totty and Gabriel Moss (eds.), Insolvency (London: Sweet & Maxwell, 2005)

‘The Floating Charge – An Elegy’, in Sarah Worthington (ed), Commercial Law and Commercial Practice (Oxford: Hart, 2003), 479-509

 

Articles:

‘Liquidity, Systemic Risk, and the Bankruptcy Treatment of Financial Contracts’ (2016) 10(1) Brooklyn Journal of Corporate, Financial and Commercial Law (forthcoming)

‘What Liquidation Does for Secured Creditors, and What it Does for You’ (2008) 71(5) Modern Law Review 699

‘At the Intersection of Property and Insolvency’ (2008) 20 Singapore Academy of Law Journal 495

‘Encumbered Assets and the Statutory Trust’ (2008) 21(9) Insolvency Intelligence 129

Look Chan Ho and Rizwaan Jameel Mokal, ‘Barber v CI: Preference Equals Undervalue?” (2006) 22(5) Insolvency Law & Practice 183-186; arguments discussed in the Court of Appeal, and approved obiter by Lady Justice Smith, in Re Sonatacus Ltd [2007] EWCA Civ 31

Michael Crystal QC and Rizwaan Jameel Mokal, ‘The Valuation of Distressed Companies: A Conceptual Framework – Part II’ (2006) 3(3) International Corporate Rescue 123-131

Michael Crystal QC and Rizwaan Jameel Mokal, ‘The Valuation of Distressed Companies: A Conceptual Framework – Part I’ (2006) 3(2) International Corporate Rescue 63-68

Stephen Atherton QC and Rizwaan Jameel Mokal, ‘Charges over Chattels – Issues in the Fixed/Floating Jurisprudence’ [2005] Company Lawyer 10-18; cited by Lord Walker in Re Spectrum Plus Ltd; National Westminster Bank plc v Spectrum Plus Ltd and others [2005] UKHL 41

Rizwaan Jameel Mokal and Look Chan Ho, ‘The Pari Passu Principle in English Ancillary Proceedings: Re Home Insurance Company’ (2005) 21(6) Insolvency Law & Practice 207-210

‘Administrative Receivership and Administration – An Analysis” [2004] Current Legal Problems 355-392

John Armour and Rizwaan Jameel Mokal, ‘Reforming the Governance of Corporate Rescue: The Enterprise Act 2002’ [2005] Lloyd’s Maritime and Commercial Law Quarterly 28-64

‘Liquidation Expenses and Floating Charges — The Separate Funds Fallacy’ [2004] Lloyd’s Maritime and Commercial Law Quarterly 387-404; reprinted at (2005) 21(2) Insolvency Law & Practice 46-55; cited with approval by the Court of Appeal of New Zealand in In re Strategic Finance Ltd [2013] NZCA 357

‘The Harm Done by Administrative Receivership’ (2004) 1(5) International Corporate Rescue 248-256

Rizwaan Jameel Mokal and John Armour, ‘The New UK Corporate Rescue Procedure — The Administrator’s Duty to Act Rationally’ (2004) 1(3) International Corporate Rescue 136-142

‘Interplay of Administration, Liquidation, and CVA – Part II’ (2004) 25(2) Company Lawyer 35-40

Look Chan Ho and Rizwaan Jameel Mokal, ‘Interplay of Administration, Liquidation, and CVA – Part I’ (2004) 25(1) Company Lawyer 3-8

‘On Fairness and Efficiency’ [2003] Modern Law Review 452-467

‘The Search for Someone to Save: A Defensive Case for the Priority of Secured Credit’ [2002] Oxford Journal of Legal Studies 687-728

‘Priority as Pathology: The Pari Passu Myth’ [2001] Cambridge Law Journal 581-621; a central argument approved and adopted by Kirby J (dissenting, though not on this point) in the High Court of Australia in International Air Transport Association v Ansett Australia Holdings Limited [2008] HCA 3. Several of the arguments in this paper were also approved and adopted by the majority of the Court of Appeal of the Supreme Court of Victoria in Ansett Australia Holdings v International Air Transport Association [2006] VSCA 242. Also cited with approval by the Court of Appeal of Ontario in Re Nortel Corporation (2015) ONCA 681

Rizwaan Jameel Mokal and Look Chan Ho, ‘Characterisation, Consideration, Evaluation: Transactions at an Undervalue After Phillips v Brewin Dolphin’ [2001] Journal of Corporate Law Studies 359-379

‘The Authentic Consent Model: Contractarianism, Creditors’ Bargain, and Corporate Liquidation’ [2001] Legal Studies 400-443

Look Chan Ho and Rizwaan Jameel Mokal, ‘Blowing Hot and Cold: Phillips v Brewin Dolphin’ (2001) 6 Journal of International Banking and Financial Law 263-266

‘An Agency Cost Analysis of the Wrongful Trading Provisions: Redistribution, Perverse Incentives, and the Creditors’ Bargain’ [2000] Cambridge Law Journal 335-369; excerpts in Grantham and Rickett, ‘Company and Securities Law: Commentary and Materials’ (Wellington: Brookers, 2002), 584-7

‘Resolving the MS Fashions ‘Paradox’’ [1999] Company Financial and Insolvency Law Review 106-113

 

Other publications:

Letsas, G., Mokal,R. (2007), End of a Golden Era? An Interview with Prof. Ronald Dworkin – UCL Laws Newsletter. Series edited by Dyson, J., Penfold, L., Schofield, P.

Mokal, R. (2007), An Interview with Dawn Oliver – UCL Laws Newsletter. Series edited by Dyson, J., Penfold, L., Schofield, P.

Mokal, R. (2006), Making Law Work: An Interview with Jeffrey Jowell QC – UCL Laws Newsletter. Series edited by Dyson, J., Penfold, L., Schofield,P.

Mokal, R. (2005), A True Renaissance Man: An Interview with Andrew Lewis – UCL Laws Newsletter. Series edited by Dyson, J., Penfold, L., Schofield,P.

Mokal, R. (2004), Law Cases, Wine Cases, and the Case of Mistaken Identity: An Interview with Rodney Austin – UCL Laws Newsletter. Series edited by Dyson, J., Penfold, L., Schofield, P.

Mokal, R. (2003), A Man for All Seasons: An Interview with Michael Freeman – UCL Laws Newsletter. Series edited by Dyson, J., Penfold, L., Schofield, P.

 

Current Teaching and PhD Supervision


  • Amber Darr, Comparative Competition Law
  • Alexander Green, Philosophy of Public International Law
  • Alfonso Nocilla, Comparative Bankruptcy Law