Expedited Debt Restructuring: An International Comparative Analysis

A number of recent economic crises have catalyzed revision and amendment of insolvency law regimes around the world. The upshot generally is that expedited debt restructuring procedures are now widely available, primarily through the limitation of court intervention, and the ever-feared problem of holdout creditors has been greatly diminished.

The mechanisms involved, however, vary considerably from one country to the next, so that, in order to take advantage of expedited debt restructuring, company lawyers must be aware of currently applicable insolvency laws in many different jurisdictions. Providing that awareness in practical detail is the purpose of this book. Thirteen national jurisdictions are covered in depth. There are also general chapters on the global impact of merger legislation in the European Union and the United States, tax regimes, and private international law.

Among the salient factors discussed in context as they arise are the following:-

• a company’s debt-to-equity ratio;
• the role of hedge funds;
• the role of private equity firms;
• and currency mismatches.

The authors each an expert in his or her own country’s insolvency law regime provide precise information on the eligibility requirements, restrictions, and other provisions of the laws they discuss. They also analyze the important relevant cases in their jurisdictions.