Legal Issues in Restructurings

Richard Marney () and Timothy Stubbs ()
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Timothy Stubbs: Dentons

Chapter Chapter 11 in Corporate Debt Restructuring in Emerging Markets, 2021, pp 253-324 from Springer

Abstract: Abstract The chapter gives a high-level review of recurrent key legal issues in emerging markets restructurings. Whilst many of the issues have been touched on in prior chapters in the book, the reader is given the opportunity to consider these legal issues in greater detail. The discussion covers the interface of multiple legal systems, the INSOL II Principles, the rule of law, the nature of local legal systems, standstill agreements, confidentiality and bank secrecy, term sheets, governing law and dispute resolution, antecedent transactions, availability and jurisdictional hurdles of international hubs for judicial restructurings (USA, UK, and Singapore), debt to equity swaps, equity creditors, third-party credit support, new money, syndicated lenders, bondholders and liability management, secured lenders, vicarious liability, wrongful trading, overlay restructuring agreements and overlay wind-down agreements.

Keywords: Antecedent transaction; Balance sheet; Bank secrecy; Bankruptcy; Borrower; Confidentiality; Consensual restructuring; Coordinating committee; Corporate debt; Debt; Debtor; Debt to equity conversion; Cash flow; COVID-19; Credit analysis; Credit checks; DFI (development finance institution); Distressed debt; Equity creditors; Emerging market; Frontier market; Holdout lender; Hybrid restructuring; INSOL II; INSOL principles; Insolvency; Judicial restructuring; Lender leadership; New money; Non-performing loans; Pre-insolvency; Rescue proceeding; Restructure; Restructuring; Restructuring plan; Rogue lender; Scheme of arrangement; Shadow director; Shareholder(s); Standstill; Steering committee; US Chapter 11; Vicarious liability; Wind-down; Workout (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-81306-2_11

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DOI: 10.1007/978-3-030-81306-2_11

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