Out-of-Court Debt Restructuring

• Tác giả: Jose M Garrido
• Ngôn ngữ: eng
• Ký hiệu phân loại: 332.75 Insolvency and credit restrictions
• Thông tin xuất bản: World Bank, 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 300826
• Chủ đề: 1. ABSOLUTE PRIORITY RULES; 2. ACCURATE FINANCIAL INFORMATION; 3. ADMINISTRATION CONTRACTS; 4. AMOUNT OF DEBT; 5. ANTI-MONEY LAUNDERING

Tóm tắt

This study provides a conceptual framework for the analysis of the questions of out-of-court debt restructuring from a policy-oriented perspective. The starting point of the analysis is given by the World Bank principles for effective insolvency and creditor rights systems. The study offers an overview of out-of-court restructuring, which is not seen as fundamentally opposed to formal insolvency procedures. Actually, the study contemplates different restructuring techniques as forming a continuum to the treatment of financial difficulties. The study discusses the advantages and disadvantages of all the debt restructuring techniques, and concludes, in this regard, that a legal system may contain a number of options a menu that can cover different sets of circumstances. In the end, the law may offer a toolbox with very different instruments that the parties may use depending on the specific facts of the case. The study also provides a checklist that can be used to examine the features of a legal system that bear a direct influence on debt restructuring activities.