Brent Walker Group completed the largest out-of-court restructuring in the United Kingdom. After overexpansion in the 1980s, the company holds a large acquisition is financed by debt, and then faced the fall in asset prices. With the assistance of the Bank of England, the company has reached a compromise with its creditors with deferred interest and conversion of debt to equity. The case is negotiating the challenges of the creditor classes and shows the different roles of management, shareholders and directors to restructure the UK. When studied in comparison with the U.S. restructuring practice, the situation is an interesting example of international restructuring. "Hide
by Steven R. Fenster, Andrew S. Park Source: Harvard Business School 22 pages. Publication Date: February 19, 1993. Prod. #: 293078-PDF-ENG
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