Currently, in many countries - both in Europe and far beyond - existing insolvency legislation is being improved. These changes are often nurtured by the wish to prevent liquidation of companies as much as possible. Legislation aimed at deferment or remission of payment is introduced or relaxed in order to give companies a chance to become viable again. A more efficient possibility - in the form of an informal reorganisation - seems to be often overlooked by the legislators. This phenomenon of Restructuring in the Shadow of the Law - during which a company, in cooperation.
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