IFLR asked sources to rate the leading global
reorganisation regimes. Results suggest the UK has toppled the
US as the restructuring hub of choice
One of the most frequently predicted – and somewhat
unwelcome – developments in the global financial
markets this year is that US interest rates will rise. While it
will reflect higher growth in the US, it means that companies
globally may find it more difficult to refinance their debt.
And those unable to refinance, may need to restructure.
|Which regime is optimal for
The increasingly globalised economy means that restructuring
regimes that can be applied to creditors worldwide are more
essential than ever. While no single framework exists, the two
most popular remain the UK scheme of arrangement and Chapter 11
of the US Bankruptcy Code. Those that use other processes rely
on Chapter 15 of the Bankruptcy Code to be recognised in the