Oxford Business Law Blog

In a new paper, ‘Selective Corporate Restructuring Strategy’, we engage with a fundamental, but under-theorized fact: that frequently in modern corporate restructuring only selected creditors are...

Venezuela possesses many of the hallmarks of a failing, if not an already failed, state. It is facing a grave humanitarian crisis, with extremely elevated levels of poverty, widespread malnutrition...

In my new monograph, Corporate Reorganization Law and Forces of Change (OUP 2020), I argue that it is not possible to adopt a fixed or universal conceptual framework in analysing the many different...

Italy has €2.4 trillion of debt. Should it ever find itself in pressing need of restructuring it, traditional avenues for sovereign restructurings could not be used because of a number of factors...

Debt restructuring is an issue that has come to prominence in the twenty years since Centros, in large part due to the difficulties faced by companies in the aftermath of the 2007-08 global financial...

Many debtholders, whether private households, companies, or states, are caught up in high-interest long-term loans. At the same time, economic developments over the past few years have created a low-...

Several countries and regions around the world, including Singapore, the United Kingdom, and the European Union are amending their restructuring framework to implement a pre-insolvency mechanism that...

In May 2016 the Insolvency Service issued a consultation on the corporate insolvency framework in the UK (for discussion see Part I and Part 2 of an earlier OBLB blog by this author). This was...

In my most recent paper, ‘Bond workouts, distressed equity offerings and State interventionism - Analysis of the Consequences of the Inefficiency of French Law Concerning the Restructuring of Large...

In debt restructurings, the question frequently arises as to whether a lender can be considered a shadow director (de facto director) as a result of the latter's involvement in the rescue of the...

The High Court yesterday held that a Chairperson of a shareholder scheme meeting may reject votes cast against a scheme of arrangement in circumstances where the shares were acquired through an...

The scheme of arrangement has become an important tool for debt restructuring in UK and Singapore in recent years. Professor Payne wrote on this blog on 14 June and 15 June on the Insolvency Services...

Much of the post-crisis focus on debt has been on making debt safer – on restricting debt and deleveraging debtors. Insights from behavioural economics and the economics of financial crises inform us...

Insolvency law is at the center of many important issues arising in the current context of economic stagnation, the crisis of the banking sector in some EU member States and the corporate debt crisis...

We think of fairness as an intuitive concept, confident that, as the colloquial expression goes, ‘we will know it when we see it’. Substantive unfairness is usually associated with some sort of...