As part of his extensive research work, Anthony Lizárraga Vera‐Portocarrero, a legal practitioner specialized in financially distressed companies, insolvency law, and bankruptcy, puts in our hands the book entitled “Clawback Regime in the Peruvian Insolvency and Bankruptcy System: A Doctrinal and Case‐Law Study”, which once more shows his significant contribution to the study of these matters, especially to the development of one of the most important institutions of insolvency systems everywhere in the world: Insolvency Clawback.

Accordingly, this book reflects, on the one hand, a deep, analytical, yet instructive and systematic doctrine‐based and law‐based research work on Clawback actions, expounding the theoretical and conceptual aspects of Clawback regimes both within the Peruvian legal system and from comparative doctrine; and, on the other hand, it provides a practical view grounded on multiple cases on the matter filed with Peruvian courts. We have to remark that the essence of this work is to show a rigorous analysis of the implications of the current regulations under the Peruvian Clawback regime, without leaving aside a comparative‐law approach.

The work starts with a description of the Peruvian insolvency system, based on clear, direct and concise methodological devices, ushering the reader into the effects that result from a debtor's insolvency situation, in which the subject under study, namely Clawback, takes place. This extensive work has detailed bibliographical material both on doctrine and on case law, making the language of the text easy to understand and handle by readers. In this regard, the work is divided into five chapters, with Appendices being included at the end of the book, in addition to a bibliography with a complete description of all the information used in the research.

The first chapter addresses how the debtor's default on payments leads inexorably to financial distress, which is at the inception of the bankruptcy or insolvency system, as insolvency is the company owner's inability to pay its debts. It also describes the universal principles of insolvency law, the development of the pre‐insolvency and insolvency stages in the Peruvian legal system, and the assets that make up the bankruptcy estate. In this chapter, the author rigorously and thoroughly describes the participation of the various actors involved in an insolvency proceeding such as debtors, creditors, administrators and/or liquidators, in addition to the government agency that serves as the insolvency authority in Peru—the National Institute for the Defence of Competition and Intellectual Property (INDECOPI).

The second chapter discusses the effects of the declaration of bankruptcy, both for the debtor and for its creditors, such as an “automatic stay” which suspends the enforcement of the debtor's obligations, protects the debtor's assets against court, arbitration, or administrative enforcing actions, or administrative enforcing actions, and clawback actions. The author describes the antecedents in the Peruvian law of the insolvency clawback regime and its various modifications and adjustments over the years. This chapter includes an important and outstanding aspect of this work, as the author meticulously examines Insolvency Clawback from a comparative law perspective applied to the two main existing legal systems: Civil Law (Germany, Argentina, Brazil, Chile, Colombia, Italy, Mexico and Uruguay) and Common Law (the United States of America and the United Kingdom). Such comparable insolvency regulations under research are dissected, developed, and analysed in a clear, direct and schematic manner.

The third chapter describes the essence of Insolvency Clawback as regulated by the Peruvian insolvency law. It begins with a definition of Insolvency Clawback and with details of the methods for determining the so‐called suspect period. Furthermore, the author makes an interesting comparison between Insolvency Clawback and Paulian action. Finally, in this chapter, he thoroughly addresses the suspect period and unrestricted clawback, analysing each concept in a detailed and descriptive manner.

The fourth chapter contains important recommendations from the author, based on the problems he identified in his in‐depth research. Accordingly, he minutely shows in 14 comparative tables the shortcomings of the Peruvian Clawback regime as currently regulated. In this regard, various issues are discussed, such as the length of time of a lawsuit on insolvency clawback actions, the claimants who file clawback‐related lawsuits, and whether the debtor's assets can be correctly reintegrated into the bankruptcy estate in case the claim is declared grounded by the courts. In this chapter, the author explains each comparative table and provides detailed case law in the Appendices of the book, in order to provide grounds for his position on each point addressed.

The fifth—and last—chapter of the book elaborates on and analyses the nine conclusions reached by the author from his research, taking “the importance of insolvency proceedings in the financial crises of companies” as fundamental premise and starting point. Anthony thus establishes in each conclusion the aspects of the Clawback Regime that need to be changed in the Peruvian insolvency law in order to meet its main objective, namely to reconstitute, reintegrate, preserve, and determine the bankruptcy estate of the debtor under insolvency proceedings.

It is important to point out that the arguments made have been included in order to better examine clawback actions in the Peruvian legal system; such arguments are properly examined and supported throughout this work. In addition, the final part of the book includes a section of Appendices, which consist mostly of court and administrative case law on insolvency clawback actions, a feature that undoubtedly makes this work extraordinary due to the thorough information on court and administrative proceedings included in such Appendices. In that regard, such case law includes summaries of court rulings that show in detail the criteria currently held by judges on the various aspects to which insolvency clawback applies in our country.

Indubitably, this work proves to be a great contribution to the study of the insolvency clawback regime in our legal system and provides a rigorous and thorough treatment of clawback actions in the Peruvian insolvency system.

作为其广泛研究工作的一部分，专门研究财务困境公司，破产法和破产的法律从业者AnthonyLizárragaVera-Portocarrero将《秘鲁的破产和破产系统中的回扣制度：教义和案例研究”，这再次显示了他对这些问题的研究的重要贡献，特别是对世界各地最重要的破产制度机构之一的发展：破产回扣。

因此，这本书一方面反映了关于回扣行为的深入，分析性，但有启发性和系统性的基于理论和法律的研究工作，阐述了秘鲁法律体系内以及来自秘鲁的回扣制度的理论和概念方面。比较主义 另一方面，它提供了一个实用的观点，基于在秘鲁法院提起的有关该案件的多个案件。我们必须指出，这项工作的实质是要对秘鲁的回扣制度下现行法规的含义进行严格的分析，而不要抛开比较法的方法。

这项工作首先以清晰，直接和简洁的方法论方法对秘鲁破产制度进行描述，使读者领会到债务人破产情况所造成的影响，在这种情况下，正在研究的主体即克劳贝克（Clawback）。这项详尽的著作在理论和判例法上都有详尽的书目材料，使文本的语言易于读者理解和处理。在这方面，该工作分为五章，书目末还包括附录，此外，参考书目还对研究中使用的所有信息进行了完整描述。

第一章论述了债务人的拖欠还款方式如何不可避免地导致财务困境，这是在破产或破产制度开始之时，因为破产是公司所有者无力偿还债务。它还描述了破产法的普遍原则，秘鲁法律体系中破产前和破产阶段的发展以及构成破产财产的资产。在本章中，作者严格而透彻地描述了参与破产程序的各种行为者的参与，例如债务人，债权人，管理人和/或清算人，以及在秘鲁作为破产管理机构的政府机构。竞争与知识产权保护研究所（INDECOPI）。

第二章讨论了宣布破产对债务人及其债权人的影响，例如“自动中止”可中止债务人义务的执行，保护债务人的资产免受法院，仲裁或行政强制措施的侵害，或行政强制措施和回撤措施。作者介绍了秘鲁的破产清偿制度的前身及其多年来的各种修改和调整。本章包括这项工作的一个重要而突出的方面，因为作者从比较法的角度认真地研究了适用于两种主要现有法律体系（民法（德国，阿根廷，巴西，智利，哥伦比亚，意大利，墨西哥和乌拉圭）和普通法（美利坚合众国和联合王国）。研究中的此类可资比较的破产法规以清晰，直接和示意的方式进行了剖析，制定和分析。

第三章介绍了秘鲁破产法规定的破产回扣的实质。它从破产清算的定义开始，并从确定所谓的可疑期的方法的细节开始。此外，作者在破产清算和保利行动之间进行了有趣的比较。最后，在本章中，他彻底解决了可疑时期和不受限制的回扣，并以详细和描述性的方式分析了每个概念。

第四章根据作者在深入研究中发现的问题，提出了重要的建议。因此，他在14个比较表中详细显示了目前受到监管的秘鲁回扣制度的缺点。在这方面，讨论了各种问题，例如对破产回扣行动提起诉讼的时间长短，提起与回拨相关的诉讼的索赔人以及在索赔人提出索赔的情况下是否可以将债务人的资产正确地重新纳入破产财产中。宣布被法院搁浅。在本章中，作者将解释每个比较表，并在本书的附录中提供详细的判例法，以便为其在每个要点上的立场提供依据。

该书的第五章（也是最后一章）详细阐述并分析了作者从其研究中得出的九个结论，并以“破产程序在公司财务危机中的重要性”为基本前提和出发点。因此，安东尼在每个结论中都确立了秘鲁破产法中需要修改的“回扣制度”的各个方面，以实现其主要目标，即在破产程序下重新构成，重新整合，保存和确定债务人的破产财产。

必须指出的是，为了更好地研究秘鲁法律体系中的回扣行动，已经包括了所提出的论点；在整个工作过程中，对此类论点进行了适当的检查和支持。此外，该书的最后一部分包括附录部分，该部分主要包括有关破产回拨行动的法院和行政判例法，这一功能无疑使这项工作变得非凡，这是因为该书中包含了有关法院和行政诉讼程序的详尽信息。附录。在这方面，这种判例法包括法院裁决的摘要，这些摘要详细显示了法官目前对我国适用破产清算的各个方面所持有的标准。

毋庸置疑，这项工作被证明为研究我国法律体系中的破产回扣制度做出了巨大贡献，并为秘鲁破产制度中的回扣行为提供了严格而彻底的对待。