‘Disclosure Requirements in Corporate Debt Restructuring via Schemes of Arrangement: A Comparative Approach’

“Creditors often face significant information asymmetry when debtor companies seek to restructure their debts. In the United Kingdom, it is mandatory for debtor companies, seeking to invoke the courts’ jurisdiction to restructure their debts via schemes of arrangement (schemes), to disclose material information in the explanatory statement to enable the creditors to make an informed decision as to how to exercise their votes in creditors’ meetings …” (more)

[Wai Yee Wan and Casey Watters, Oxford Business Law Blog, 25 May]

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