This timely new work evaluates the law regarding pre-insolvency proceedings. Setting the law in context, the book provides a conceptual framework for ideal practice, illustrating the implications of the new regime with specific practical examples. pThe book features a comprehensive discussion of the key principles underlying restructuring proceedings and explains the purpose of, and justification for, pre-insolvency proceedings. It provides answers to a number of important issues that are still undecided and the subject of debate. pIn particular, the book provides detailed analysis of the system of voting in classes, and it offers an in-depth discussion of the appropriate criteria for confirmation and cram-down together with consideration of the little-understood underlying economic issues. It also includes analysis of the key aspects of valuation and the applicable valuation standards in the context of restructuring, much needed as the incidence of judicial valuation arises in the con