Oxford University Press recently published a book on pre-insolvency proceedings (aptly entitled) “Pre-Insolvency Proceedings, A Normative Foundation and Framework”. It is authored by Nicolaes Tollenaar and includes a foreword from Justice Richard Snowden.
The book develops a normative foundation for pre-insolvency proceedings and provides a framework outlining what an ideal pre-insolvency procedure might look like. It discusses the key economic and legal principles underlying restructuring proceedings, the system of voting in classes, the appropriate criteria for cram down and valuation. It further offers a comparative analysis of UK schemes and the Chapter 11 plan procedure with a view to drawing on the lessons learned from each.
The book is an updated translation of the (Dutch) PhD of the author (previously presented on this blog) and is available at: https://global.oup.com/academic/product/pre-insolvency-proceedings-9780198799924?cc=nl&lang=en&