Selective Corporate Restructuring Strategy.
This article engages with a fundamental, but under‐theorised, fact: that modern UK and US corporate restructuring plans frequently impair only selected creditors, and frequently treat impaired creditors of equal rank differently. It starts from the premise that selectivity and differential treatment...
| Publicado en: | Modern Law Review Vol. 86; no. 2; pp. 436 - 465 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Mar2023
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=161788640&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 161788640 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00267961 D8H jtl: Modern Law Review issn: 00267961 maglogo: Y pubinfo: dt: Mar2023 vid: 86 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 161788640 10.1111/1468-2230.12767 ppf: 436 ppct: 29 formats: fmt: – @attributes: type: T – @attributes: type: P size: 290KB tig: atl: Selective Corporate Restructuring Strategy. aug: au: Paterson, Sarah Walters, Adrian su: Corporate reorganizations Debtor & creditor Corporate finance Capital investments Investment analysis sug: subj: Corporate reorganizations Debtor & creditor Corporate finance Capital investments Investment analysis ab: This article engages with a fundamental, but under‐theorised, fact: that modern UK and US corporate restructuring plans frequently impair only selected creditors, and frequently treat impaired creditors of equal rank differently. It starts from the premise that selectivity and differential treatment, while often justifiable, raise normative questions about the boundaries within which they ought to be permitted. It then reviews selective and differential strategies in three UK restructuring procedures, using US chapter 11 as a comparator. The core contention is that selectivity and differentiation are best regulated by the threat of independent review against a menu of relevant criteria. A menu of criteria is developed, designed to distinguish legitimate and illegitimate uses of selective and/or differential strategies, and these criteria are mapped onto the various UK restructuring law procedures and US chapter 11. The article concludes with some limited suggestions for reform directed mainly at the UK company voluntary arrangement. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: Copyright of Modern Law Review is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. item: Modern Law Review holder: Wiley-Blackwell dt: @attributes: year: 2023 holdings: @attributes: islocal: N |
|---|