Non-US Cos. Can Effectively Restructure Using Ch. 11
Law360, New York (January 28, 2014, 3:50 PM EST) -- Chapter 11 of the U.S. Bankruptcy Code is the most well-developed law of any insolvency regime in the world for helping troubled companies restructure their affairs. Some nations, like Canada and the United Kingdom, also have insolvency regimes that are very helpful for restructuring businesses, but few others do, and none of these systems is as commercially oriented as Chapter 11.
Arguably, the most appealing feature of Chapter 11 is the ability to confirm a reorganization plan with less than unanimous stakeholder support, even if...