New Financing for Distressed Businesses in the Context of Business Restructuring Law

This book focuses on the restructuring of distressed businesses, emphasizing the need for new financing during the restructuring process as well as during relaunch, and examines the role of law in encouraging creditor confidence and incentivizing lending.

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New Financing for Distressed Businesses in the Context of Business Restructuring Law

New Financing for Distressed Businesses in the Context of Business Restructuring Law

Sanford U. Mba

New Financing for Distressed Businesses in the Context of Business Restructuring Law

Sanford U. Mba Legal Studies Central European University Budapest, Hungary

ISBN 978-3-030-19748-3    ISBN 978-3-030-19749-0 (eBook) https://doi.org/10.1007/978-3-030-19749-0 © Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

To Professor Tibor Tajti, Adeline, Ugo, Nathan and the memory of James I. Mba.

Acknowledgments

As one will see, a recurring motif in this book is debt. Even the author is not spared. The difference, however (and thankfully), is that what I owe, I owe in gratitude, a world of gratitude. I am in great debt of gratitude to the Central European University (CEU), an institution devoted to academic excellence, critical thinking, and the open society, which I have had the privilege to be a part of. My deepest gratitude goes to Professor Tibor Tajti, who has been my supervisor through this research process. His direction, support, and mentorship have seen me through the program. I have thoroughly enjoyed our exchanges that extended beyond the law. Just words cannot express my heartfelt gratitude. I am truly grateful to the members of faculty and staff of the Legal Studies Department here at CEU, for their immense contributions. Professor Moschel, for his role as director of the doctoral program, who has been immensely supportive and kind. I am also grateful to Professors Karoly Bard, Renata Uitz, Catarina Sganga, Markus Petsche, and Jessica Lawrence. Also, Emeritus Prof