# Corporate workout

> Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Corporate_workout
> Markdown URL: https://mediated.wiki/source/Corporate_workout.md
> Source: https://en.wikipedia.org/wiki/Corporate_workout
> Source revision: 916181118
> License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/)

'''Corporate workout''' refers to financial rescue of a firm that is outside formal [bankruptcy](/source/bankruptcy) and [insolvency](/source/insolvency) law.<ref>Azmi, Ruzita. "Corporate Workout: The Corporate Debt Restructuring Committee Revisited." International Corporate Rescue 8:5 (2011).</ref> Also known as '''out-of-court debt restructuring''', corporate workout practices aim to remedy or avoid [foreclosure](/source/foreclosure) and bankruptcy.<ref>Brown, Bowman, Brian Nordwall, and Michael L. Ashner. "Corporate, Securities and Banking Law Aspects of Workouts." U. Miami L. Rev. 32 (1977).</ref> The debtors, creditors as well as the main shareholder and bondholders voluntarily participate in the workouts in order to make rearrangements concerning financial investments and rescheduling and restructuring debt. As a way of response to corporate crisis, corporate workout arrangements were widely seen in the aftermath of the [Asian financial crisis in 1997](/source/1997_Asian_financial_crisis).

==See also==
*[Restructuring](/source/Restructuring)
*[Debt restructuring](/source/Debt_restructuring)
*[Compromise agreement](/source/Compromise_agreement)
*[Creditor](/source/Creditor)
*[Debt](/source/Debt)
*[Insolvency](/source/Insolvency)
*[Voluntary redundancy](/source/Voluntary_redundancy)

==References==
{{Reflist}}

==Further reading==
*Low, Linda. "Asian crisis, corporate and financial restructuring, and transformation of traditional Chinese enterprises." R''ethinking Chinese Transnational Enterprises: Cultural Affinity and Business Strategies'' 7 (2002): 240.
*Mako, William P. "Emerging-Market and Crisis Applications for Out-of-Court Workouts: Lessons from East Asia." ''Corporate Restructuring'' (2005): 99.

Category:Debt
Category:Restructuring

---
Adapted from the Wikipedia article [Corporate workout](https://en.wikipedia.org/wiki/Corporate_workout) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Corporate_workout?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.