In & out-of-court restructurings: A critical approach to the past & present, a glimpse into the future

Abstract

This paper aims to provide an up-­‐to-­‐date insight to the law and economics of the field of restructuring. We analyze core issues such as the bankruptcy decision and the bargaining process both in and out-of-court restructurings. We focus on how the US law affects human behavior in such conditions of financial distress and we discuss about the need for a new chapter 11.