Restructuring options and processes

This Overview is a guide to the Banking & Finance content within the Restructuring options and processes subtopic, with links to appropriate materials.

General issues

The key stages of a restructuring are usually:

•
stabilising the company by agreeing a standstill (for more information, see below)
•
preparing for the restructuring by conducting due diligence, reviewing the business plan and obtaining a valuation, and
•
signing and implementing the restructuring agreement (the form of which will depend upon the type of restructuring which is to be adopted)

For more information on the restructuring process, see Practice Note: Restructuring process and for more information about the initial due diligence (legal and financial) and valuations that are carried out in relation to the company, see Practice Note: Restructuring—initial steps.

It is also important to consider the position of the company's directors, including their duties to the company and to the creditors as a whole both before and after the company's insolvency.

Restructurings typically involve one or more of the following techniques:

•
a covenant waiver and reset
•
debt rescheduling
•
a debt for equity swap
•
a

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