European Restructuring Strategies: Chasing Ch. 11

Law360, New York (January 24, 2012, 3:59 PM EST) -- European companies in need of restructuring are expected to make greater use of Chapter 11 in the future, especially to complete reorganizations that are largely financial as opposed to operational.

Marked differences between bankruptcy and insolvency laws in the United States and Europe make the U.S. bankruptcy system attractive to foreign companies seeking a financial restructuring. Bankruptcy and insolvency laws throughout the European Union focus primarily on liquidation and the protection of secured creditors' rights. However, the U.S. Bankruptcy Code emphasizes reorganization and rehabilitation of financially...
To view the full article, register now.