A curious feature of the 'special relationship' is the recurring enthusiasm of our political leaders for Chapter 11 of the US Bankruptcy Code. They are occasionally supported by a chorus of journalists loudly proclaiming the merits of the world's best known debtor-in-possession (DIP) insolvency process. In both cases, the expressions of admiration tend to be unencumbered by much understanding or experience of the process. Their ardour is dampened by research into the subject. The flames are doused entirely by any serious consideration of the practicalities of recreating the Chapter 11 experience in the UK.
November 25, 2009 at 06:03 AM
1 minute read
The original version of this story was published on Legalweek
Dentons’ Mark Andrews argues that flag-wavers calling for Chapter 11-style procedures in the UK fail to understand the object of their affection
A curious feature of the ‘special relationship’ is the recurring enthusiasm of our political leaders for Chapter 11 of the US Bankruptcy Code. They are occasionally supported by a chorus of journalists loudly proclaiming the merits of the world’s best known debtor-in-possession (DIP) insolvency process.
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