Finance partners Ed Smith and Donald Lowe and Knowledge Counsel James Bell recently wrote a chapter on Private Equity Restructuring.
The chapter explores how the traditional English law restructuring toolkit has measured up to the needs of stakeholders in companies currently experiencing financial distress. The authors review changes in the shape of the leveraged buyout market, which has seen an influx of new finance providers and also significant erosion in the customary protections afforded to lenders. The chapter also considers the likely impact of forthcoming reforms to the UK's restructuring framework. These changed dynamics will impact significantly on the course of future restructurings.
This chapter first appeared in Private Equity: A Transactional Analysis (Fourth edition, 2020), published by Globe Law and Business.
