The Philosophy Of Insolvency Rescues

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The Philosophy Of Insolvency Rescues

The current financial crisis is likely to bring in its train a

re-examination of corporate rescue statutes as a way of protecting

the economy and it is worth reviewing where we have got to on this

topic internationally.

Insolvency does not mean insolvency proceedings.  By far

the great majority of financial problems are resolved by a private

restructuring outside the courts, known as work-outs.  Nobody

knows the proportion of work-outs to judicial rescues or

liquidations internationally, but there is no question that they

are the preferred ...

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