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Part I Corporate Debt Restructuring, 1 Insolvency in the UK and the US

Rodrigo Olivares-Caminal, Randall D. Guynn, Alan W. Kornberg, Sarah Paterson, Dalvinder Singh

From: Debt Restructuring (3rd Edition)

Rodrigo Olivares-Caminal, Alan Kornberg, Sarah Paterson, Dalvinder Singh, Eric McLaughlin

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 04 March 2024

Subject(s):
Bank resolution and insolvency — Debt — Breach of statutory duty

Chapter 1 provides an overview of a comparative approach between the US and English models of financial restructuring. This chapter includes a brief summary of the duties of a company’s directors in promoting a restructuring in the US. Further, through synthesis of case law and statutes, Chapter 1 summarizes the state of the law in the US for fraudulent conveyances, preference actions, and safe harbours as they relate to certain financial transactions that occur prior to a restructuring. Similarly, it includes analysis of directors’ duties in distress in restructuring in the UK and of the UK transaction avoidance regime in a restructuring context.

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