Abstract
In a restructuring process, the provision of new financing is both practically imperative and legally challenging. Without new financing from an investor who will invest in new generated value for the business, the entire concept of restructuring in a preventive manner will fail. For this reason, recognition within the legal framework of both the status of the new financier in terms of risk protection as compared with existing creditors and in terms of dividends once the rescue is successful are key issues which must be addressed in any legal framework. This chapter considers how this is done in the Preventive Restructuring Directive ('PRD') 2019/1023
| Original language | English (Ireland) |
|---|---|
| Title of host publication | European Preventive Restructuring Article-by-Article Commentary |
| Editors | Christoph Paulus, Reinhard Dammann |
| Place of Publication | Munich/Oxford |
| Publisher | C. H. Beck, Hart and Nomos |
| Chapter | 4 |
| Pages | 220-23717 |
| ISBN (Print) | 9783 40675350 3, 9781 50993881 0, 978 3848769551 |
| Publication status | Published - 30 Jan 2021 |
Keywords
- Preventive Restructuring, Finance
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