Insolvency law, restructuring law and modern financial markets

Sarah Paterson

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: The finance market has undergone rapid change in developed Western economies in the last decade. In much of Europe the concentrated finance market in which a small group of banks controlled the flow of finance to large and small companies has given way to a dispersed creditor economy. In both Europe and the US there has been an explosion of secured credit and the market for buying and selling debt of distressed companies has matured so that those holding the debt of a financially distressed company will, in many cases, not be the lenders who originally advanced the funds.

Keywords: Insolvency law; restructuring law; Chapter 11 (search for similar items in EconPapers)
JEL-codes: F3 G3 (search for similar items in EconPapers)
Pages: 3 pages
Date: 2015
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