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| Tekijä: | Bolton, P. |
| Otsikko: | Toward a statutory approach to sovereign debt restructuring: lessons from corporate bankruptcy practice around the world |
| Lehti: | IMF Staff papers
2003 : VOL. 50: Special issue, p. 41-71 |
| Asiasana: | Bankruptcy Debt management |
| Kieli: | eng |
| Tiivistelmä: | An overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on severeign debt restructuring is provided in this article. It is highlighted that there are four components of common to most bankruptcy reorganization institutions: a stay on debt collection efforts to prevent a costly run for the assets, broad enforcement of absolute priority, majority voting among creditors on the proposed reorganization plan and new higher priority financing to keep the company going while its liabilities are restructured. |
SCIMA