The Law and Practice of restructuring in the Uk and US

Christopher Mallon, Shai y. Waisman and ray C. Schrock (editors) (2nd edition) (2017, oUP, oxford), 503pp, £195, ISBN 978-0-19-875539-5.

This text takes as its essential foundation the need to bring together issues affecting restructuring practice in the two jurisdictions where most cross-border businesses of a certain magnitude will have acquired debt, more often than not in both jurisdictions at the same time. For a financial restructuring to be successful, due attention must be paid to the laws in London and New York, where most such transactions occur, laws which are
stipulated to govern most debt instruments. Though both jurisdictions are ostensibly common-law ones, the differences in underlying theory and practice have led inspired the authors to put together a compendium of the issues most likely to feature in a debt restructuring as well as a consideration of the position of key stakeholders in the process. Acknowledgement of the international dimension of debt restructurings is also very much a natural feature of this work, consisting of 14 chapters written by a selection of key practitioners in both the UK and US.

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