lxix, 778 pages : illustrations ; 26 cm
9780198725244 hardback 0198725248 hardback
"The new second edition of [this book] provides detailed legal analysis of international corporate, banking, and sovereign debt restructuring, from the perspective of both creditors and debtors. It sets out practical guidance to help practitioners, policy-makers and academics to understand current developments in debt restructuring, and provides solutions for creditors holding distressed debt and debtor options in a distressed scenario. The Corporate Debt section includes a number of very significant changes such as the UK Supreme Court decision in Eurosail and the disapproval of the 'point of no return' test for balance sheet insolvency or the endorsement of the Cheyne Finance decision on cashflow. The changes in treatment of schemes of arrangement since with the decision in Rodenstock are reflected as are the Recast European Insolvency Regulation (EIR) and the Supreme Court decision in Rubin. In the US chapter the new edition considers the limitations on bankruptcy court jurisdiction in Stern v. Marshall and, in the RadLax case, the right of secured creditors to credit bid in a sale of their collateral under a chapter 11 plan. Other significant case law includes consideration of the various safe harbour provisions of the Bankruptcy Code relating to derivative and other financial instruments and cases concerning the effect of foreign court orders in the US. In the Bank Resolution section, the UK part also has been substantially amended to reflect the new system of macro and micro prudential oversight with the establishment of the PRA, FCA, FPC, and the FSCS. Additionally it reflects changes introduced by the Financial Services Act 2012 and by the Financial Services (Banking Reform) Act 2013."-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and index.
Formatted Contents Note
Insolvency in the UK and the US The EC regulation on insolvency proceedings Out-of-court vs court-supervised restructurings The UNCITRAL model law on cross-border insolvency Legal aspects of banking regulation in the UK and US Banks in distress Banking act restructuring and insolvency procedures Resolution of US banks and other financial institutions European bank resolution regime An introduction to sovereign debt restructuring Litigation aspects of sovereign debt Transactional aspects of sovereign debt restructuring.
K1385 .D43 2016
Revision of: Debt restructuring Oxford ; New York : Oxford University Press, 2011.
Oxford, United Kingdom ; Oxford University Press, 2016.