Corporate rescue law--an Anglo-American perspective
By: Gerard McCormack.
Series: Corporations, globalisation and the law; Corporations, globalisation, and the law
Publisher: E. Elgar; Edward Elgar
Published: 2008
Place of publication: Cheltenham; Northampton, MA
Language: eng
Number of pages: 322
ISBN-13: 9781847202741
Subjects: Bankruptcy -- Great Britain.; Corporate reorganizations -- Great Britain.; Bankruptcy -- United States.; Corporate reorganizations -- United States.
Description: This book offers an unprecedented and detailed comparative critique of Anglo-American corporate bankruptcy law. It challenges the standard characterisation that US law in the sphere of corporate bankruptcy is 'pro-debtor' and UK law is 'pro-creditor', and suggests that the traditional thesis is, at best, a potentially misleading over-simplification. Gerard McCormack offers the conclusion that there is functional convergence in practice, while acknowledging that corporate rescue, as distinct from business rescue, still plays a larger role in the US. The focus is on corporate restructurings with in-depth scrutiny of Chapter 11 of the US Bankruptcy Code and the UK Enterprise Act, and offers other comparative oversights.
Notes: Includes bibliographical references and index.