Patrick Potter’s article, “Assessing the "Logic and Limits" of Comparing European Union Preinsolvency Regimes to Chapter 11,” was published by INSOL International.
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Patrick Potter’s article, “Assessing the "Logic and Limits" of Comparing European Union Preinsolvency Regimes to Chapter 11,” was published by INSOL International. The article examines whether it is sound to treat EU pre-insolvency restructuring frameworks (PIRs) as equivalent to Chapter 11 of the U.S. Bankruptcy Code. It reviews the growing “fungibility” argument that PIRs and Chapter 11 are substantively similar and that PIRs are a cheaper, viable alternative. Through a review of legislative histories, eligibility standards, and structural features, the paper argues that the regimes were designed for different types of financial distress—PIRs for pre-insolvent debtors seeking early intervention, and Chapter 11 for debtors across the full spectrum of insolvency, including deeply distressed companies. To read more, click here.
