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Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia

Corporate insolvency law aims to provide instruments of corporate survival or rescue. The revival of companies on the brink of economic collapse may involve rescue procedures that go beyond the normal managerial responses to corporations in distress and they may operate through both informal mecha...

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Main Authors: Azmi, Ruzita, Abd Razak, Adilah
Format: Article
Language:English
Published: Universiti Putra Malaysia Press 2014
Online Access:http://psasir.upm.edu.my/id/eprint/28388/1/28388.pdf
http://psasir.upm.edu.my/id/eprint/28388/
http://www.pertanika.upm.edu.my/Pertanika%20PAPERS/JSSH%20Vol.%2022%20%28S%29%20Jan.%202014/10%20Page%20161-182.pdf
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spelling my.upm.eprints.283882015-12-03T07:43:02Z http://psasir.upm.edu.my/id/eprint/28388/ Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia Azmi, Ruzita Abd Razak, Adilah Corporate insolvency law aims to provide instruments of corporate survival or rescue. The revival of companies on the brink of economic collapse may involve rescue procedures that go beyond the normal managerial responses to corporations in distress and they may operate through both informal mechanisms and formal legal procedures. Most importantly only viable companies and businesses deserve to be rescued. There are various types of rescue actions to turnaround corporate fortunes at a time of corporate crisis. This could be in the form of a broad range of restructuring activities. This article examines the informal rescue practices and mechanisms available to troubled companies in the UK and Malaysia. Some common rescue mechanisms that are discussed include sell-offs, management buy-out (MBO), debt for equity conversion, retrenchment, redundancy as well as ‘workout’ arrangements to restructure debts owed by companies to banks or creditors. Universiti Putra Malaysia Press 2014-01 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/28388/1/28388.pdf Azmi, Ruzita and Abd Razak, Adilah (2014) Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia. Pertanika Journal of Social Sciences & Humanities, 22 (spec. Jan.). pp. 161-182. ISSN 0128-7702; ESSN: 2231-8534 http://www.pertanika.upm.edu.my/Pertanika%20PAPERS/JSSH%20Vol.%2022%20%28S%29%20Jan.%202014/10%20Page%20161-182.pdf
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description Corporate insolvency law aims to provide instruments of corporate survival or rescue. The revival of companies on the brink of economic collapse may involve rescue procedures that go beyond the normal managerial responses to corporations in distress and they may operate through both informal mechanisms and formal legal procedures. Most importantly only viable companies and businesses deserve to be rescued. There are various types of rescue actions to turnaround corporate fortunes at a time of corporate crisis. This could be in the form of a broad range of restructuring activities. This article examines the informal rescue practices and mechanisms available to troubled companies in the UK and Malaysia. Some common rescue mechanisms that are discussed include sell-offs, management buy-out (MBO), debt for equity conversion, retrenchment, redundancy as well as ‘workout’ arrangements to restructure debts owed by companies to banks or creditors.
format Article
author Azmi, Ruzita
Abd Razak, Adilah
spellingShingle Azmi, Ruzita
Abd Razak, Adilah
Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia
author_facet Azmi, Ruzita
Abd Razak, Adilah
author_sort Azmi, Ruzita
title Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia
title_short Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia
title_full Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia
title_fullStr Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia
title_full_unstemmed Corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the United Kingdom and Malaysia
title_sort corporate rehabilitation: informal corporate rescue mechanisms for troubled companies in the united kingdom and malaysia
publisher Universiti Putra Malaysia Press
publishDate 2014
url http://psasir.upm.edu.my/id/eprint/28388/1/28388.pdf
http://psasir.upm.edu.my/id/eprint/28388/
http://www.pertanika.upm.edu.my/Pertanika%20PAPERS/JSSH%20Vol.%2022%20%28S%29%20Jan.%202014/10%20Page%20161-182.pdf
_version_ 1643829449611804672
score 13.211869

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