A statutory debt restructuring procedure offers a range of advantages contingent on the specific context. Firstly, it effectively mitigates the "holdout" risk, creating hurdles for a minority of creditors seeking to obstruct a restructuring deal. This fortifies the restructuring process and ensures a more coherent and expedited resolution, whether through contracts or legal mandates. By doing so, it minimizes deadweight losses, ultimately favoring both borrowers and lenders involved in sovereign debt restructuring.

Secondly, the procedure aims to instill order, predictability, and speed in the restructuring process. This systematic approach facilitates the preservation of asset values and the protection of creditors' rights, ensuring a fair and structured mechanism. Notably, debt restructuring can lead to reduced interest rates, subsequently freeing up cash and fostering financial savings. This financial relief can greatly aid borrowers and lenders alike, enhancing their financial flexibility and organizational capacity.

Furthermore, the procedure enhances overall financial organization and flexibility, offering a structured and foreseeable framework for debt restructuring. Ultimately, it stands to benefit both borrowers and lenders by minimizing risks, optimizing efficiency, potentially lowering interest rates, and fostering improved financial organization. The advantages of a statutory debt restructuring procedure thus underscore the positive impact it can have on all stakeholders involved.