Out-of-Court Debt Restructuring

Jose M. Garrido

No 2230 in World Bank Publications - Books from The World Bank Group

Abstract: 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.

Keywords: Finance; and; Financial; Sector; Development-Deposit; Insurance; Finance; and; Financial; Sector; Development-Debt; Markets; International; Economics; and; Trade-External; Debt; Finance; and; Financial; Sector; Development-Access; to; Finance; Finance; and; Financial; Sector; Development-Bankruptcy; and; Resolution; of; Financial; Distress (search for similar items in EconPapers)
Date: 2012
ISBN: 978-0-8213-8983-6
References: Add references at CitEc
Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbpubs:2230

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