Corporate restructuring and corporate dissolution of companies in financial distress: Ensuring creditor protection: A comparison of the US, UK and Dutch models

Samantha Renssen*

*Corresponding author for this work

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3 Citations (Web of Science)


Where a company is in financial distress, there are two options: rescue of the (viable) company by restructuring or liquidation of the (unviable) company by dissolution. In practice, the most important restructuring procedure is the US Chapter 11. Many European jurisdictions have used Chapter 11 as a source of inspiration for the enactment of their restructuring proceedings. However, in Europe, national restructuring rules vary greatly in respect of the range of procedures available to companies in financial distress aiming at restructuring. Some European jurisdictions do not provide for formal restructuring procedures at all. Unviable companies in financial distress are too broke to restructure. In most European jurisdictions, unviable companies can be dissolved very quickly and cheaply. However, these procedures also differ from each other. Copyright (C) 2017 INSOL International and John Wiley & Sons, Ltd.

Original languageEnglish
Pages (from-to)204-228
Number of pages25
JournalInternational Insolvency Review
Issue number2
Early online date30 May 2017
Publication statusPublished - 12 Jul 2017

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