Corporate rescue law : an Anglo-American perspective

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Title:

Corporate rescue law : an Anglo-American perspective

Author:

McCormack, G. (Gerard)

ISBN:

9781847202741

Personal Author:

McCormack, G. (Gerard)

Publication Information:

Cheltenham : Edward Elgar, c2008.

Physical Description:

viii, 322 p. ; 24 cm.

Series:

Corporations, globalisation and the law

Corporations, globalisation, and the law.

Contents:

1. Introduction -- 2. Corporate restructuring law in the UK -- 3. Fundamental features of the US Chapter 11 -- 4. Entry routes and corporate control -- 5. The automatic stay - barring individual creditor enforcement actions -- 6. Financing the debtor -- 7. The role of employees -- 8. The restructuring plan -- 9. Conclusion

Abstract:

"This book offers an unprecedented and detailed comparative critique of Anglo-American corporate bankruptcy law. It challenges the standard characterisation that US law in the sphere of corporate bankruptcy is 'pro-debtor' and UK law is 'pro-creditor', and suggests that the traditional thesis is, at best, a potentially misleading over-simplification. Gerard McCormack offers the conclusion that there is functional convergence in practice, while acknowledging that corporate rescue, as distinct from business rescue, still plays a larger role in the US. The focus is on corporate restructurings with in-depth scrutiny of Chapter 11 of the US Bankruptcy Code and the UK Enterprise Act, and offers other comparative oversights." "Integrating theoretical and practical insights, this book will be of great interest to academics and practitioners, and also to policymakers in the DTI, Insolvency Service and regulatory bodies."--BOOK JACKET.

Subject Term:

Bankruptcy -- Great Britain.

Corporation law -- Great Britain.

Bankruptcy -- United States.

Corporation law -- United States.

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168023699883	346.41078 M131C 2008	1	Searching... Unknown

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Summary

This book offers an unprecedented and detailed comparative critique of Anglo-American corporate bankruptcy law. It challenges the standard characterisation that US law in the sphere of corporate bankruptcy is 'pro-debtor' and UK law is 'pro-creditor', and suggests that the traditional thesis is, at best, a potentially misleading over-simplification. Gerard McCormack offers the conclusion that there is functional convergence in practice, while acknowledging that corporate rescue, as distinct from business rescue, still plays a larger role in the US. The focus is on corporate restructurings with in-depth scrutiny of Chapter 11 of the US Bankruptcy Code and the UK Enterprise Act, and offers other comparative oversights.

Integrating theoretical and practical insights, this book will be of great interest to academics and practitioners, and also to policymakers in the DTI, Insolvency Service and regulatory bodies.