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Part I Corporate Debt Restructuring, 3 Out-of-Court vs Court-Supervised Restructurings

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: 27 February 2024

Bank resolution and insolvency — Credit — Debt — Securities and Exchange Commission (SEC) — Exchange controls and the International Monetary Fund Agreement

Chapter 3 highlights the various avenues through which restructurings can occur in the UK and US, and provides the reader with a framework for understanding both the out-of-court and in-court restructuring process. This chapter discusses typical out-of-court approaches in the UK and US and the advantages and disadvantages of such tactics. Chapter 3 includes a detailed summary of the court-supervised chapter 11 process in the US, including events that typically lead to a chapter 11 filing, the chapter 11 plan and confirmation process, section 363 sales, and COVID-19’s effects on restructurings. It also includes a detailed analysis of the multiple restructuring tools available in the UK, including new tools which have been introduced by the Corporate Governance and Insolvency Act 2020.

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