Samenvatting

Research has been conducted by Leiden Law School into the efficacy of an instrument based on insolvency practice, ‘Harvard negotiation’ and ‘serious gaming’ aiming at better conflict management in case of (near) bankruptcy. Business rescue workout simulation games were played at different places worldwide. Serious gaming provides insight in the complexity and dynamics of (informal) reorganizations. The research further confirms that the Harvard negotiation-principles and the INSOL International Statement of Principles for a Global approach to multi-creditor workouts may provide a useful contribution to the realization of a successful (international) financial restructuring. The intervention of skilled neutrals is often significative. More focus on communication, negotiation and cooperative dispute resolution is also consistent with the initiatives of legislators and policymakers which stimulate companies to restructure at an early stage of financial distress. These developments also make ADR-skills become of more relevance to (insolvency) professionals.