As businesses transcend geographical boundaries, and in times of financial distress, it becomes more challenging to find a restructuring solution that is time and cost-efficient, providing the debtor with requisite breathing space and tools with which to effect the restructuring exercise, while ensuring the rights of creditors are adequately protected. In this context, it becomes almost inevitable that companies and creditors look further afield for the suitable forum to conduct a restructuring, and this is where forum shopping, or forum selection, comes in.
The term forum shopping frequently carries a negative connotation. Conventionally understood, it refers to a litigant commencing proceedings in a forum that offers the best tactic…
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