The future of reorganization procedures in the era of pre-insolvency law

The future of reorganization procedures in the era of pre-insolvency law

Several countries and regions around the world, including Singapore, the United Kingdom, and the European Union are amending their restructuring framework to implement a pre-insolvency mechanism that looks like a US Chapter 11 reorganization. However, unlike what happens in the United States, where...

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Bibliographic Details
Main Author: Aurelio GURREA-MARTINEZ
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2019
Subjects:
Bankruptcy
Corporate Insolvency
Debt restructuring
Debtor
Debtor in possession
Reorganization
Banking and Finance Law
Business Organizations Law
Online Access:https://ink.library.smu.edu.sg/sol_research/3716
https://ink.library.smu.edu.sg/context/sol_research/article/5674/viewcontent/the_future.pdf
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Institution: Singapore Management University
Language: English
Description
Summary:Several countries and regions around the world, including Singapore, the United Kingdom, and the European Union are amending their restructuring framework to implement a pre-insolvency mechanism that looks like a US Chapter 11 reorganization. However, unlike what happens in the United States, where unsuccessful reorganizations lead to Chapter 7 liquidations, companies using this ‘de facto Chapter 11’ (DFCH11) are still allowed to use the formal reorganization procedures existing in their insolvency jurisdictions if the DFCH11 fails.

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