This paper deals with project finance restructuring in the view of future or present financial distress. We treat the occurrences of negative cash flow and negative NPV as signs of potential project distress. The solutions offered for negative cash flow are (1) restructuring debt thereby making...

The events of the last few years revealed an acute need for tools to systematically model and analyze large financial networks. Many applications of such tools include the forecasting of systemic failures and analyzing probable effects of economic policy decisions. We consider optimizing the...

The use of a restructuring regime (the CCAA) to carry out going concern sales of insolvent firms is growing in Canada. Two critical questions must be addressed when considering this phenomena. The first is whether this provides support for the view that traditional restructurings are being...

The Reform of the Bankruptcy Act carried out in Italy in 2005-2007 introduced two forms of workout agreements (out-of-court reorganization plans and court-controlled multi-party agreements). The two devices are mainly conceived as a safe harbour from fraudulent conveyance and preference law. A...