{"id":20632,"date":"2002-10-08T13:06:00","date_gmt":"2002-10-08T13:06:00","guid":{"rendered":"https:\/\/eces.org.eg\/?p=20632"},"modified":"2024-01-10T11:09:04","modified_gmt":"2024-01-10T11:09:04","slug":"a-review-of-corporate-workout-systems","status":"publish","type":"post","link":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/","title":{"rendered":"A Review of Corporate Workout Systems"},"content":{"rendered":"\n<p><strong>Abstract:<br><\/strong>The inability of debtors to meet their obligations is a problem facing both developing and developed countries alike, particularly during financial crisis or periods of liquidity lightening. The experiences of the United Kingdom, Korea, and Mexico, reveal that financial restructuring avoids unnecessary liquidation of viable companies, an upsurge in unemployment, and a loss of productive capacities.<br>Financial restructuring approaches in each of these three countries may vary in the institutional structure but the rules have common features, and take into consideration the specific country case such as the nature of corporate debt, how much of it was denominated in foreign currency and how much was held by foreigners. New lending, interest rate reduction, convertible bonds, and debt-equity conversion were the most employed instruments in the financial restructuring of viable companies.<br>Successful financial restructuring requires: cooperation between and independent central bank, and a higher government authority to push creditors and debtors to reach a voluntary agreement, managed by a lead bank without the interference of legislative authorities. Both creditors and debtors must be ready to bear some losses, financial restructuring units within banks need to be created, and the bankruptcy law should be strengthened. An arbitration unit is required, and the company\u2019s long-term viability, based on well-defined criteria, should be assessed by an independent unit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abstract:The inability of debtors to meet their obligations is a problem facing both developing and developed countries alike, particularly during financial crisis or periods of liquidity lightening. The experiences of the United Kingdom, Korea, and Mexico, reveal that financial restructuring avoids unnecessary liquidation of viable companies, an upsurge in unemployment, and a loss of productive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65],"tags":[],"class_list":["post-20632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-working-papers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Review of Corporate Workout Systems - ECES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Review of Corporate Workout Systems - ECES\" \/>\n<meta property=\"og:description\" content=\"Abstract:The inability of debtors to meet their obligations is a problem facing both developing and developed countries alike, particularly during financial crisis or periods of liquidity lightening. The experiences of the United Kingdom, Korea, and Mexico, reveal that financial restructuring avoids unnecessary liquidation of viable companies, an upsurge in unemployment, and a loss of productive [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\" \/>\n<meta property=\"og:site_name\" content=\"ECES\" \/>\n<meta property=\"article:published_time\" content=\"2002-10-08T13:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-10T11:09:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/eces.org.eg\/wp-content\/uploads\/2002\/10\/W-P-73-En-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1606\" \/>\n\t<meta property=\"og:image:height\" content=\"2560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin-eces-staging\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin-eces-staging\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\"},\"author\":{\"name\":\"admin-eces-staging\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135\"},\"headline\":\"A Review of Corporate Workout Systems\",\"datePublished\":\"2002-10-08T13:06:00+00:00\",\"dateModified\":\"2024-01-10T11:09:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\"},\"wordCount\":222,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/eces.org.eg\/#organization\"},\"articleSection\":[\"Working Papers\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\",\"url\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\",\"name\":\"A Review of Corporate Workout Systems - ECES\",\"isPartOf\":{\"@id\":\"https:\/\/eces.org.eg\/#website\"},\"datePublished\":\"2002-10-08T13:06:00+00:00\",\"dateModified\":\"2024-01-10T11:09:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/eces.org.eg\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A Review of Corporate Workout Systems\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/eces.org.eg\/#website\",\"url\":\"https:\/\/eces.org.eg\/\",\"name\":\"ECES\",\"description\":\"The Egyptian Center For Economic Studies\",\"publisher\":{\"@id\":\"https:\/\/eces.org.eg\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/eces.org.eg\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/eces.org.eg\/#organization\",\"name\":\"ECES\",\"url\":\"https:\/\/eces.org.eg\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png\",\"contentUrl\":\"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png\",\"width\":1794,\"height\":324,\"caption\":\"ECES\"},\"image\":{\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135\",\"name\":\"admin-eces-staging\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/eces.org.eg\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g\",\"caption\":\"admin-eces-staging\"},\"sameAs\":[\"https:\/\/eces.org.eg\"],\"url\":\"https:\/\/eces.org.eg\/en\/author\/admin-eces-staging\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A Review of Corporate Workout Systems - ECES","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/","og_locale":"en_US","og_type":"article","og_title":"A Review of Corporate Workout Systems - ECES","og_description":"Abstract:The inability of debtors to meet their obligations is a problem facing both developing and developed countries alike, particularly during financial crisis or periods of liquidity lightening. The experiences of the United Kingdom, Korea, and Mexico, reveal that financial restructuring avoids unnecessary liquidation of viable companies, an upsurge in unemployment, and a loss of productive [&hellip;]","og_url":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/","og_site_name":"ECES","article_published_time":"2002-10-08T13:06:00+00:00","article_modified_time":"2024-01-10T11:09:04+00:00","og_image":[{"width":1606,"height":2560,"url":"https:\/\/eces.org.eg\/wp-content\/uploads\/2002\/10\/W-P-73-En-scaled.jpg","type":"image\/jpeg"}],"author":"admin-eces-staging","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin-eces-staging","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#article","isPartOf":{"@id":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/"},"author":{"name":"admin-eces-staging","@id":"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135"},"headline":"A Review of Corporate Workout Systems","datePublished":"2002-10-08T13:06:00+00:00","dateModified":"2024-01-10T11:09:04+00:00","mainEntityOfPage":{"@id":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/"},"wordCount":222,"commentCount":0,"publisher":{"@id":"https:\/\/eces.org.eg\/#organization"},"articleSection":["Working Papers"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/","url":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/","name":"A Review of Corporate Workout Systems - ECES","isPartOf":{"@id":"https:\/\/eces.org.eg\/#website"},"datePublished":"2002-10-08T13:06:00+00:00","dateModified":"2024-01-10T11:09:04+00:00","breadcrumb":{"@id":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/eces.org.eg\/en\/a-review-of-corporate-workout-systems\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/eces.org.eg\/"},{"@type":"ListItem","position":2,"name":"A Review of Corporate Workout Systems"}]},{"@type":"WebSite","@id":"https:\/\/eces.org.eg\/#website","url":"https:\/\/eces.org.eg\/","name":"ECES","description":"The Egyptian Center For Economic Studies","publisher":{"@id":"https:\/\/eces.org.eg\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/eces.org.eg\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/eces.org.eg\/#organization","name":"ECES","url":"https:\/\/eces.org.eg\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/","url":"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png","contentUrl":"https:\/\/eces.org.eg\/wp-content\/uploads\/2022\/12\/eces-logo-blue-text-beside.png","width":1794,"height":324,"caption":"ECES"},"image":{"@id":"https:\/\/eces.org.eg\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/eces.org.eg\/#\/schema\/person\/7981d9621302fef3e6e0a1f65d658135","name":"admin-eces-staging","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/eces.org.eg\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/53bfa8ab3f374bc6d5f1b8efd03ab8a47e7162e412c1b93b788f5fe73e2927fd?s=96&d=mm&r=g","caption":"admin-eces-staging"},"sameAs":["https:\/\/eces.org.eg"],"url":"https:\/\/eces.org.eg\/en\/author\/admin-eces-staging\/"}]}},"_links":{"self":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts\/20632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/comments?post=20632"}],"version-history":[{"count":4,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts\/20632\/revisions"}],"predecessor-version":[{"id":31319,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/posts\/20632\/revisions\/31319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/media\/31315"}],"wp:attachment":[{"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/media?parent=20632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/categories?post=20632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eces.org.eg\/en\/wp-json\/wp\/v2\/tags?post=20632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}