Lydia Tsiolis work is a brilliant weaving of theory and practice. By analyzing how laws respond to debtor viability from beginning to end of a restructuring, it offers a clear guiding objective. The comparison of US and European laws is both detailed, insightful, and practical. Practitioners and academics will benefit greatly from this book. -- Kenneth Ayotte, UC Berkeley School of Law, USA An efficient corporate insolvency regime should facilitate the effective reorganization of viable businesses and the speedy liquidation of non-viable firms. Therefore, the success of an insolvency system ultimately depends on understanding the concept of viability and the different mechanisms to separate viable and non-viable firms examined by Dr. Tsioli in this fascinating book. -- Aurelio Gurrea-Martķnez, Singapore Management University This is a remarkable achievement. Lydia Tsioli provides a comprehensive and rigorous analysis of the concept of viability in its various emanations across the restructuring frameworks of the US, the UK, and the EU. Unmatched in its originality of thought, the book constitutes comparative work at its very best. -- Michael Schillig, Kings College London, UK This book is a must-read for everyone interested in a deeper understanding of the choice between restructuring and liquidation in financial distress. Lydia Tsioli provides the first comprehensive investigation of business viability a key concept underpinning restructuring and insolvency laws. -- Felix Steffek, University of Cambridge, UK
