Restructuring Plans: An emerging alternative to Chapter 11 for US companies?

James Davison, Cindi Giglio, Victoria Procter, Lydia Demnitz-King and Michael Rosella of Katten examine the growing use of UK restructuring plans by US companies as an alternative to Chapter 11, highlighting their flexible voting rules, cross-class cramdown, potential preservation of Nasdaq listings, third-party releases and Chapter 15 recognition, while noting limits including the absence of an automatic stay and established debtor-in-possession financing regime.

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