Debt Workouts for Corporates, Bank and Countries: Some Common Themes - speech by David Clementi

In a speech delivered at the Sixth World Congress of INSOL International in London on 19 July, David Clementi, Deputy Governor of the Bank of England, discusses recent developments in debt work-out arrangements for corporate, bank and sovereign borrowers.
Published on 19 July 2001

The subject is directly relevant to the Bank of England’s responsibility for financial stability. In the corporate sector, Mr Clementi argues that “Insolvency procedures which are predictable, equitable and transparent, can maximise overall value for creditors and avoid the costs and wider economic disruption involved in unnecessary corporate liquidations."

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