Art of the Ad Hoc

With changes in credit markets, traditional steering committees have fallen from favour in restructurings. Too slow and unwieldy. Enter the ad hoc committee. These self-formed groups of creditors take less time to set up, are more flexible, and can achieve otherwise impossible results for debtors, thanks to their ability to act unilaterally.Global Restructuring Review's The Art of the Ad Hoc fills in the blanks. In plain English, it provides a comprehensive guide on how to work successfully with these committees and illuminates an activity that has rightly been described as &quote;an art&quote;.The book draws on the collective wisdom and real-life experiences of 20 distinguished practitioners from 10 different firms to cover the topic from every angle and perspective - particularly those of committee member and debtor, with emphasis on the practical throughout.The guide is edited by three respected restructuring practitioners with extensive cross-border experience - Howard Morris, Judge James Peck and Sonya Van den Graaff - and is split into three parts: Part I explains an ad hoc committee's formation and organisation; Part II, its activities and powers; and Part III, what trading committee members may undertake.