 The role of the notion of viability in corporate debt restructuring lawLydia Tsioli () Chapter 1 in Viability in Corporate Debt Restructuring Law, 2025, pp 6-40 from Edward Elgar Publishing Abstract: Chapter 1 analyses the notion of viability – its double meaning and double role – and explains why using viability (as opposed to solvency/insolvency) as a benchmark notion in the European Directive on restructuring and insolvency constitutes a prerequisite to achieving the goals aimed at with the introduction of a harmonised corporate debt restructuring framework across the EU. It subsequently explains how the proper understanding of viability dictates that insolvent, yet economically viable debtors ought not to be excluded from the Directive's scope, a suggestion which comes in contrast to the Directive's pre-insolvency scope. It concludes by suggesting that, under the proposed optimal scope, the debtor's viability should be continually assessed throughout the entirety of the restructuring process via ‘filtering mechanisms’, ‘filtering tools’ and ‘filtering safeguards’; this way, it sketches an outline of the optimal inner structure of such a framework, which will be analysed in Chapters 3–5. Keywords: Financial viability; Distress; Economic viability; Distress; Solvency; Insolvency; Preventive; Pre-insolvency scope; Commons; Anti-commons; Viability assessment (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:24119_2 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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