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Clifford Chance have published a very interesting document on European insolvency procedures. On launching the document Mr Adrian Cohen (a partner in the restructuring and insolvency group in London) said:
"This latest edition provides an update to the developments in each of the key European jurisdictions, including how the different insolvency regimes operate in those jurisdictions. The brochure aims to assist clients assess credit risks and potential impacts of formal insolvency procedures on realising security across Europe and contains a useful comparative table on issues such as the automatic stay, the ability to cram down creditors, and potential lender liability."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...