The future of reorganization procedures in the era of pre-insolvency law

Author

Aurelio GURREA-MARTINEZ, Singapore Management UniversityFollow

Publication Type

Blog Post

Version

publishedVersion

Publication Date

1-2019

Abstract

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.

Keywords

Bankruptcy, Corporate Insolvency, Debt restructuring, Debtor, Debtor in possession, Reorganization

Discipline

Banking and Finance Law | Business Organizations Law

Research Areas

Corporate, Finance and Securities Law

Publisher

Taylor & Francis (Routledge): SSH Titles - no Open Select

Citation

Aurelio GURREA-MARTINEZ. The future of reorganization procedures in the era of pre-insolvency law. (2019).
Available at: https://ink.library.smu.edu.sg/sol_research/3716

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.