Effective Turnaround for SMEs:Interaction between Insolvency Proceedings and Retrenchment Strategies

2021 ◽  
Vol 2021 (1) ◽  
pp. 15473
Author(s):  
Rachid Achbah ◽  
Marc Frechet
Author(s):  
Nicolaes Tollenaar

This book develops a normative foundation and framework for pre-insolvency proceedings. The book features a comprehensive discussion of the key principles underlying restructuring proceedings and explains the purpose of, and justification for, pre-insolvency proceedings. It deals with all-important issues such as class composition, cross-class cramdown, and valuation. A comparative analysis and critique of UK schemes of arrangement and the US Chapter 11 procedure is also included, identifying the strengths and weaknesses of each.


2021 ◽  
Vol 18 (3) ◽  
pp. 377-397
Author(s):  
Marta Flores

Abstract After Brexit, the United Kingdom will become a third State to all effects. As far as insolvency is related, this will imply substantial changes regarding the recognition and enforcement of the UK insolvency proceedings. This paper purports to analyze the consequences a Hard-Brexit will have on insolvency-related matters, by describing the effects that should be expected with regard to the recognition in Spain of each of the proceedings that the UK legislation foresees for financially distressed debtors, namely administration, winding-up, voluntary agreements, bankruptcy and schemes of arrangement (which are dealt with separately due to their hybrid nature).


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