Copyrights
Approaches to Corporate Debt Restructuring in the Wake of Financial Crises
INTERNATIONAL MONETARY FUND
Legal Department1
(In collaboration with an Inter-Departmental Working Group)
Authorized for Distribution by Sean Hagan
January 26, 2010
DISCLAIMER: The views expressed herein are those of the author(s) and should not be attributed to the IMF, its Executive Board, or its management
Contents
Executive Summary
I. Introduction
II. Economic Case for Government Intervention in Corporate Debt Restructuring
III. Approaches to Corporate Debt Restructuring
IV. Design and Implementation of A Corporate Debt Restructuring Strategy
V. Drawing Together Key Principles
Boxes
Box 1. Direct Government Subsidies
Box 2. The Use of Government Guarantees to Support the Corporate Sector
Annex
Annex A: Features of Out-of-Court Corporate Restructuring Processes