‘Cross-Entity Liability Arrangements and Group Restructuring’

“What do Lehman Brothers, Nortel Networks and Oi (Brazil) have in common, apart from the fact that they were or remain large multinational enterprise groups, which at some point went insolvent? They have been characterised by the integrated nature of their business, facilitated through the elaborate networks of intercompany financing arrangements. These arrangements have made the group-wide resolution of financial problems more challenging but also more desirable or even necessary in order to achieve the insolvency law goals of estate value maximization and fair and equitable treatment of creditors …” (more)

[Ilya Kokorin, Oxford Business Law Blog, 6 July]

First posted 2021-07-06 11:00:55

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