Consider An English Alternative To Ch. 11

Law360, New York (January 17, 2014, 5:59 PM EST) -- In the United States, a nonconsensual financial restructuring poses a very expensive problem for borrowers. Borrowers, whether under a credit agreement or an indenture, will either have to give in to the demands of nonconsenting lenders or attempt to cram them down through a Chapter 11 bankruptcy case — either option comes at a significant cost. An English scheme of arrangement may offer a third, more cost-effective option for some U.S. borrowers to consider.

The rise, in recent years, of a secondary debt trading market has...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.