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Corporate rescue: a game of three halves

Finch, Vanessa (2012) Corporate rescue: a game of three halves. Legal Studies, 32 (2). pp. 302-324. ISSN 1748-121X

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Abstract

Three connected processes make up the UK corporate rescue regime: the formal, legal regime, informal approaches and the quasi-formal system, as exemplified by the pre-packaged administration. These three processes not only operate through different procedures but they are also attuned to the pursuit of different objectives and values, they are subject to different controls and they involve different roles for, and relationships between, the parties affected by corporate rescues. A number of negative and identifiable consequences flow from such divergences. An understanding of the tensions between these three systems and an awareness of the challenges posed by transition through different procedures does, however, help to explain many of the deficiencies of current corporate rescue processes and it also provides an enhanced basis for considering current proposals for reforming restructuring and working towards an improved rescue regime.

Item Type: Article
Official URL: http://onlinelibrary.wiley.com/journal/10.1111/(IS...
Additional Information: © 2012 The Author
Library of Congress subject classification: K Law > K Law (General)
K Law > KD England and Wales
Sets: Departments > Law
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 23 May 2012 10:51
URL: http://eprints.lse.ac.uk/43841/

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