Giving Effect to Debt Compromise Arrangements–Binding The Minority or out of The Money Classes of Creditors
Keyword(s):
When it comes to remedies at a pre-insolvency proceeding stage, it can be said that England and the US are two countries separated by a common law. In particular, the hardening of common law and equitable rules into clear statements that could be set out in a text book in the nineteenth century in England does not appear to have been replicated to the same extent in the US. England has a strict system of precedent and very clear notions of equitable doctrines and statutory interpretation, whereas the US has a looser approach.