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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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2019
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| 在線閱讀: | 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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| 總結: | 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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