Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
02 September 2016
Year-on-year drops in economic growth and a ballooning debt bubble have placed China in a debt-to-GDP “danger zone”, similar to Japan in the late 1980s, and the UK and US ahead of 2008. With a banking crisis potentially on the horizon, the International Insolvency Institute (III) gathered a selection of speakers from around the world to examine the challenges facing China and its trading partners in this new era.
23 August 2016
A recent debate in Brussels considered the virtues of different insolvency regimes in the US and EU for the purpose of choosing a centre of main interest (COMI) – and found that forum shoppers are probably best off in America.
15 August 2016
Increasing creditor participation in typically debtor-friendly Japan; new out-of-court workout rule rules in China and Korea; and Singapore’s recently announced ambition to become an international debt restructuring hub were all topics of discussion when the International Insolvency Institute (III) hosted its first-ever conference in Asia in June.
13 July 2016
The development of pre-insolvency mechanisms alongside formal tools such as schemes of arrangement has been a valuable response to complex financial issues and should be borne in mind by regulators attempting to harmonise regimes, speakers said at a conference in Brussels on 16 to 17 June.
05 July 2016
Legal uncertainty, corruption investigations and an undiversified financial system continue to affect clients’ confidence in Brazil’s 10-year-old bankruptcy laws, but a growing body of jurisprudence is gradually ironing out some of the kinks in the restructuring process, agreed lawyers at the Latin Lawyer - GRR Restructuring Summit in New York last month.
27 June 2016
Newly proposed intercompany debt regulations in the US could result in many debt instruments between related parties being characterised as equity, lawyers warned at a recent seminar, as they explored the impact of the potential changes on cross-border transactions.
23 June 2016
Daniel Carnio Costa, a bankruptcy judge at the First Bankruptcy Court of Brazil in São Paulo, called on his colleagues to ensure the social and economic benefits of corporate restructuring take precedence over the interests of the creditors and debtors, in a keynote speech at the Latin Lawyer - GRR Restructuring Summit earlier this month.
20 June 2016
Panellists speaking at the first Latin Lawyer - GRR Restructuring Summit held in New York earlier this month were split over whether Venezuelan state-owned oil company PDVSA is on track for an imminent default: but there was broad agreement that the legal aftermath will share many similarities with Argentina’s highly litigious 15-year sovereign debt battle.
16 June 2016
Lawyers representing debtors in distressed M&A deals in Latin America need to provide clearer communication strategies and valuation plans to avoid troubling creditors, guests at the first Latin Lawyer – GRR Restructuring Summit in New York heard last Monday.
15 June 2016
The traditional dichotomy between banking resolution and corporate resolution is obsolete, said speakers at a conference at the University of Reading, as they considered the practical, political and legal challenges that have distorted the development of a new regulatory landscape for financial institutions post-2008.
10 June 2016
A number of recent high-profile cross-border restructurings have brought changes to the way Latin American lawyers approach debtor-in-possession financing, but applicable laws remain “dysfunctional” according to a panel at Latin Lawyer – GRR Restructuring Summit in New York last Monday.
07 June 2016
Banks in central and eastern Europe looking to restructure or dispose of non-performing loans can help attract investors by providing high-quality data, adhering to international sales standards and trying to anticipate problems before they arise, panellists noted in Prague in March. Ultimately, though, the main driver of investment is a favourable legal environment and an experienced local servicing industry.