About the Book
This second edition provides updated and practical analysis of restructuring under English and New York Law.Since the publication of the previous edition, certain areas of restructuring law have received particular attention. Waivers, amendments, and standstills, and in particular "snooze and lose" and "yank the bank" provisions have continued to develop in the last five years as well as other refinements from the US which are being
increasingly used in Europe. The mechanisms for giving effect to debt compromise arrangements, either through Schemes of Arrangement or Chapter 11 pre-packs, have also developed significantly on recent years.
There has been a great deal of debate surrounding restructuring and insolvency law in Europe following the recast EC Regulation on Insolvency Proceedings and further developments in various European jurisdictions. The second edition has been thoroughly updated to cover these, and all other major developments in the field to provide a complete and up-to-date guide to restructuring on both sides of the Atlantic. This work provides detailed analysis of areas associated with
company restructures including tax and shareholder claims, employee and trade union matters, and pension scheme issues. Additionally the new edition features new or developed chapters on key areas of
practical development such as private equity's role in restructuring and specific issues relating to financial institutions, energy, property, airlines and shipping. With coverage of techniques available to both stressed and distressed companies, as well as looking at specialist markets and key stakeholders, The Law and Practice of Restructuring in the UK and US is an invaluable guide for banking, finance, and insolvency practitioners and their clients, and both financial institutions
and companies looking to restructure debt, and global accountancy firms and law and business schools worldwide.
Table of Contents:
1: Christopher Mallon, Ray C. Schrock, and Shai Y. Waisman: Introduction
2: Scott V. Simpson, Jay M. Goffman, and Matthew Barr: Emergency Sales in the US and the UK
3: James McDonald, Danny Tricot, Richard Ho, and Maria Protopapa: US and UK Tender Offers, Exchange Offers and Other Out-of-Court Restructurings
4: Christopher Mallon and Ray C. Schrock: Duties of Directors and Management of Distressed Companies
5: James L. Bromley, Jane VanLare, Kara Hailey, Victor Chiu, and Pete Coulton: Arriving at a Compromise with, and identifying Key Stakeholders: Waivers, Amendments and Standstills, Participations, Debt Buy-backs, Inter-Creditor Agreements and Make-Whole Provisions.
6: Gabriel Moss QC, Daniel Bayfield, Adam Al-Attar, Howard Seife, and Andrew Rosenblatt: Giving Effect to Debt Compromise Arrangements - Binding the Minority or Out of the Money Classes of Creditors
7: Ray C. Schrock and Christopher Mallon: Private Equity's Emerging Role in Preventing and Participating in Restructurings
8: Jeffrey D. Saferstein and Dominic McCahill: Venue and Forum Selection in the US and UK
9: Ray C. Schrock: Restructuring Issues in Financial Institutions, Energy, Property, Airline and Shipping Concerns in the UK and US
10: Philip Ridgway, Stuart J. Goldring, and Max A. Goodman: Tax Issues in Restructuring
11: Philip Hertz, Mark Poulton, Gabrielle Ruiz, and Shai Y. Waisman,: Compromising Shareholder Claims both Generally and in Listed Companies
12: Michael Sippitt, Nick Huffer, Julie Lanz, and Eric Ivester: Employees and Trade Unions
13: Alastair Meeks and Paul J. Wessel: Pension Scheme Trustees and Regulators
14: Christopher Mallon, Ray C. Schrock, Maurice Horwitz, and Shai Y. Waisman: Cross-Border Issues
About the Author :
Chris Mallon is a Partner and the Co-Head of the Corporate Restructuring Department in Europe at Skadden, Arps, Slate, Meagher & Flom (UK) LLP and has played a lead role in growing the firm's corporate restructuring practice in Europe. Chris was a contributor to ollier on Bankruptcy 15e (LexisNexis looseleaf) and speaks regularly on restructuring issues in Europe and the US.
Shai Waisman is Chief Executive Officer of Prime Clerk, is a widely recognized expert on restructuring and bankruptcy. Before joining Prime Clerk, Shai was a partner in the Business Finance & Restructuring department of Weil, Gotshal & Manges, where he led some of the largest and most complicated restructurings in history, including Lehman Brothers, American Airlines, Global Crossing, Loral Space & Communications and Steve & Barry's.
Ray Schrock is Co-Chair of the Business Finance & Restructuring Department at Weil, Gotshal & Manges LLP and has extensive experience leading complex, corporate international and U.S. restructuring matters. Mr. Schrock has represented debtors, non-debtor parent companies and affiliates, financial institutions, private equity funds, hedge funds, portfolio companies, secured and unsecured creditors and other major stakeholders in numerous in-court and out-of-court restructuring
matters.
Review :
...this is a masterful work that conveys what it promises to do and, for that reason, should be of use to practitioners and stakeholders in the restructuring environment.
It contains an outstanding selection of cases, primarily from courts based in the US, the UK, Australia and Europe. This case study approach makes the book not only more actual and effortless to read, but also extremely valuable for the prospective audience, who are given direct guidelines on how to address the problems they face in their daily practice. It represents a welcome support for all those who practise and deal with insolvency and restructuring matters under the UK and/or the US law.
An authoritative and highly regarded text which contains a wealth of legal expertise presented by, in addition to the authors, thirty-five expert contributors, all of whom offer the benefits of their extensive experience in this field. Highly readable, easily navigable and copiously footnoted, this handy and helpful volume belongs in the library of every transatlantic practitioner.
