Chapter 11 Insolvency Rules
With the potential for a serious downturn questions are being asked as to whether European insolvency regimes are in a position to deal with the consequences.
Capital structures have become very much more complex and the current Enterprise Act does not allow for a venue to conduct a valuation fight. Nor does it provide for a stay or freezing of past debts to allow a company breathing room to prepare a turnaround plan or address core issues.
It is these aspects of the current system that prompted David Cameron to raise the issue at the CBI employers' group recently.
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