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The US Bankruptcy Code (Code) does not require a company to be insolvent to seek relief from creditors and reorganise as a going concern.

The company may seek relief from creditors only in cases of suspension of debt payment obligation (PKPU), not in cases of bankruptcy.

The Debtor Rehabilitation and Bankruptcy Act (DRBA) governs bankruptcy proceedings and reorganisation proceedings in Korea. In this response, bankruptcy proceeding refers to the liquidation proceeding prescribed under the DRBA, reorganisation proceeding refers to the reorganisation proceeding prescribed under the DRBA, and insolvency proceeding refers collectively to a bankruptcy proceeding and a reorganisation proceeding

A debtor in financial distress – either insolvent or with negative equity – can request a moratorium and initiate composition proceedings by submitting a provisional restructuring plan to the competent composition court. The latter will, upon a summary examination of its merits, grant a provisional moratorium if it comes to the conclusion that a composition plan may be achievable. It will reject the moratorium, if it finds that there are obvious indications that the plan will most likely fail. The moratorium is first granted on a provisional basis with a maximum duration of four months and is not published if the debtor so requests and the interests of the creditors and other third parties, if any, are sufficiently protected. The court can grant a final moratorium of four to six months (which needs to be published), provided it considers the chances of achieving a composition agreement are sufficiently realistic. If the restructuring during the (provisional) moratorium is successful and no composition agreement is necessary, the debtor can file for a suspension of the moratorium and thus no composition proceedings follow.

Shadow banking. Alternative credit providers. Direct lending. Call it what you will, funding by non-traditional lenders has increased as quickly as post-crisis reforms reined in banks’ ability to provide credit. Here is IFLR's guide to the latest developments

Banglalink’s five-year high yield offering is the first-ever international bond offering from the country. Here's how it was done

The first Korean Basel III-compliant bond has set an important benchmark for Asia’s growing regulatory capital market

US Congress and regulators taking steps boost liquidity in the small cap market

India’s new Companies Act rules allow more investors to be solicited but also introduces heightened disclosure requirements