the law and practice of restructuring in the uk and us

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The Law And Practice Of Restructuring In The Uk And Us

Author : Christopher Mallon
ISBN : 9780199583775
Genre : Law
File Size : 62. 33 MB
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The Law and Practice of Restructuring in the UK and US is a practical guide to the restructuring of corporate debt and associated restructuring issues such as employees and pensions, from the perspective of both UK and New York law, the dominant systems of law in the world commercial and financial markets. At a time when many companies are looking at renegotiating and restructuring their debt agreements, this book provides a timely analysis of current techniques and likely developments in the field of corporate restructuring. An expert contributor team from both the US and UK combine their practical experience to cover all aspects of corporate restructuring. Through vivid exposure of the differences between the two jurisdictions, this book considers likely developments in the corporate restructuring landscape, for example the US Chapter 11 paradigm, as well as addressing lessons learned from past issues which are likely to feed into future develompents With coverage of techniques available to both stressed and distressed companies, as well as looking at specialist markets and key stakeholders, The Law and Practice of Restructuring in the UK and US is an invaluable guide for banking, finance and insolvency practitioners and their clients, both financial institutions and companies looking to restructure debt, as well as global accountancy firms and law and business schools worldwide.

Corporate Rescue Law An Anglo American Perspective

Author : Gerard McCormack
ISBN : 9781848445109
Genre : Law
File Size : 86. 77 MB
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. . . a highly readable and informative text and an excellent addition to insolvency scholarship. . . In their entirety, the chapters of Corporate Rescue Law An Anglo-American Perspective represent one of the most incisive and relevant treatments of comparative insolvency regimes to date. . . This book is an absolute boon: it provides the reader with a mass of legal and practical insights into the workings of two ostensibly divergent systems and challenges received wisdom in a fluent and persuasive manner. Not only are legal differences examined through the lens of practice, but also commercial, philosophical and social responses to failure are considered and highlighted as possible drivers of those real distinctions that do exist. Professor McCormack has produced an exceptional work that should be required reading for academics, practitioners and policy makers alike, and is to be warmly congratulated. Sandra Frisby, Banking and Finance Law Review The issues are well chosen. They are easily the most important aspects of any corporate rescue law. The careful analysis of the technical provisions, the incorporation of the extensive scholarship on the two corporate rescue regimes and the reference to practice in the real world all help to make these chapters an indispensable tool for any scholar wishing to gain a better understanding of the similarities and differences of English and American corporate rescue laws. . . This monograph could not have come at a better time. . . The comparative account in this book will help law reformers, judges and scholars to have a better grasp of the issues and appreciate better how the two systems have dealt with them. . . Comparative law has a critical role to play in promoting mutual understanding and respect. It is hoped that this monograph will help in that respect. Wee Meng Seng, Singapore Journal of Legal Studies This book offers an unprecedented and detailed comparative critique of Anglo-American corporate bankruptcy law. It challenges the standard characterisation that US law in the sphere of corporate bankruptcy is pro-debtor and UK law is pro-creditor , and suggests that the traditional thesis is, at best, a potentially misleading over-simplification. Gerard McCormack offers the conclusion that there is functional convergence in practice, while acknowledging that corporate rescue, as distinct from business rescue, still plays a larger role in the US. The focus is on corporate restructurings with in-depth scrutiny of Chapter 11 of the US Bankruptcy Code and the UK Enterprise Act, and offers other comparative oversights. Integrating theoretical and practical insights, this book will be of great interest to academics and practitioners, and also to policymakers in the DTI, Insolvency Service and regulatory bodies.

Toward A Statutory Approach To Sovereign Debt Restructuring

Author : Mr. Patrick Bolton
ISBN : 9781452759388
Genre : Business & Economics
File Size : 26. 42 MB
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This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization institutions: a stay on debt collection efforts to prevent a costly run for the assets, broad enforcement of absolute priority, majority voting among creditors on the proposed reorganization plan, and new higher priority financing to keep the firm going while its liabilities are restructured. The paper argues that these components ought to be present in any sovereign debt restructuring procedure.

Restructuring The Professional Organization

Author : David Brock
ISBN : 9781134651948
Genre : Business & Economics
File Size : 23. 74 MB
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In recent years the professions have undergone radical transformation. With the advent of rapidly changing markets, more sophisticated and demanding clients, deregulation and increased competition, the generalist professional partnerships have given way to larger, more corporate forms of organization, comprising increasingly autonomous specialist business units. This volume critically examines these changes through an examination of the archetypes which characterize accounting, health care and law practitioners. With examples drawn from Australia, Canada, the UK and the USA, Restructuring the Professional Organization will be of interest to all students of organization studies seeking to understand the issues and problems confronting the professions as they move to the new millennium. Topics covered include: * a review of the models of professional organization *drivers of change in professional organizations * internal dynamics of changes in these organizations * new organizational forms and archetypes.

Global Insolvency And Bankruptcy Practice For Sustainable Economic Development

Author : Dubai Economic Council
ISBN : 9781137561756
Genre : Business & Economics
File Size : 62. 23 MB
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This book is a comparative study of international practices in bankruptcy law, providing perspectives from a variety of specialisms including practitioners, lawyers, bankers, accountants and judges from the United Arab Emirates, the UK and Singapore.

Bond Restructuring And Moral Hazard

Author : Mr. Törbjörn I. Becker
ISBN : 9781451897425
Genre : Business & Economics
File Size : 89. 89 MB
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Many official groups have endorsed the wider use by emerging market borrowers of contract clauses which allow for a qualified majority of bondholders to restructure repayment terms in the event of financial distress. Some have argued that such clauses will be associated with moral hazard and increased borrowing costs. This paper addresses this question empirically using primary and secondary market yields and finds no evidence that the presence of collective action clauses increases yields for either higher- or lower-rated issuers. By implication, the perceived benefits from easier restructuring are at least as large as any costs from increased moral hazard.

Martindale Hubbell International Law Directory

Author :
ISBN : IND:30000064483740
Genre : Lawyers
File Size : 58. 37 MB
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Corporate Finance

Author :
ISBN : CORNELL:31924074769823
Genre : International finance
File Size : 40. 85 MB
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Restructuring Territoriality

Author : Christopher K. Ansell
ISBN : 0521532620
Genre : Political Science
File Size : 87. 87 MB
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The bundling of political authority into mutually exclusive territorial boundaries - territoriality - is a fundamental principle of modern political organization. Indeed, it provides the foundation for other cherished institutions - national sovereignty, citizenship, the modern welfare state, and democracy. Are globalization, internationalization, and Europeanization conspiring to unbundle territoriality? If so, are sovereignty, citizenship, the welfare state, and democracy unravelling as well? Is a new post-national, non-territorial form of political organization, heralded by the European Union, being born? With a focus on Europe, this volume explores these issues from various substantive and theoretical perspectives. The authors find evidence of the diffusion of authority both within and beyond the state, producing novel institutional arrangements and new modes of governance. But the United States may provide more useful insights into the new dispensation than the idea of a post-national, non-territorial politics. Interest in contemporary challenges to democracy run throughout this volume.

Expedited Corporate Debt Restructuring In The Eu

Author : Rodrigo Olivares-Caminal
ISBN : 0198706502
Genre :
File Size : 66. 13 MB
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This is the first book to provide a complete comparative analysis of expedited corporate debt restructuring alternatives in the European Union. The work considers the different options available to a company facing a distress scenario and focuses on the options that provide expedited solutions to these issues. The techniques considered in full include: (1) out-of-court reorganization or (non-insolvency process-related) private workouts; (2) pre-packaged reorganization plans; and, (3) pre-arranged or pre-negotiated reorganization plans. The merits and suitability of each technique are considered and case studies are used to illustrate these points in each chapter. A considerable feature of the work is the jurisdiction analysis which allows the reader to compare the law and practice related to each method in each of the EU member states. Each country chapter sets out the relevant legal framework, illustrates its practical application and highlights potential problems through the use of case studies. The aim of the book is to work as a toolkit, a first point of reference for anyone dealing with companies in distress in the EU. In addition to the jurisdictional analysis, the thematic chapter provide an introduction to the techniques discussed and cover common issues for all EU jurisdictions.

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