Chapter 1 - What are insolvency and restructuring?
This chapter is from Insolvency and Restructuring Manual (Bloomsbury Professional), which is a comprehensive guide to corporate insolvency and restructuring. It is intended to provide an introduction to the subject and to serve as an aide memoire for more experienced practitioners. The book takes the reader through the various formal insolvency processes and examines the differences between them. It reviews and explains a wide range of associated topics, including antecedent transactions, the position of directors, the rights of creditors and cross-border issues. It also deals with the wider issues involved in the restructuring of a troubled company's debts.