Too big to resolve? The BRRD's uneasy Italian landing

In the wake of the first assessment of the vulnerability of Europe's banks since late 2014, GRR explores what Italy's wrangles with a pile-up of non-performing loans reveal about the challenges of a single resolution directive applied across the EU's diverse banking systems.

12 September 2016

A golden age for China’s bankruptcy law?

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.

02 September 2016

The III arrives in Asia

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.

15 August 2016

Asset recovery column: Claims and relief available in cross-border bankruptcies – limitless possibilities

Ed Davis and Annette Escobar, founding member and partner at Astigarraga Davis in Miami, discuss possible claims and remedies available via adversary cases in the context of a Chapter 15 application before the US courts.

15 August 2016

Sovereign debt column: Proxies for equity

Partner Andrew Shutter of Cleary Gottlieb Steen & Hamilton in London discusses GDP warrants and other value recovery instruments designed to entice creditors to agree to a restructuring proposal.

15 August 2016

Europe column: Should the EU adopt the Model Law?

Bob Wessels, professor emeritus of international insolvency law at the University of Leiden, considers whether the European Union should adopt the UNCITRAL Model Law on cross-border insolvency.

15 August 2016

The Kindly Ones

“Mediation of restructuring and insolvency-related disputes is a growing trend,” GRR kept hearing repeatedly from practitioners at events and meetings around the world. We set out to investigate and found that, while mediation is widely encouraged and used in North America, the process seems to be quite different from what is understood as mediation in Europe - where it has yet to catch on.

15 August 2016

The man who's done it all: an interview with Dr Shinjiro Takagi

Widely regarded as the father of Japan’s modern insolvency and restructuring laws, Dr Shinjiro Takagi has been a lawyer, a judge, an academic and an adviser to a multimillion-pound corporation. Now, at 80, he’s jetting off to pursue fresh professional interests with the law firm Morgan Lewis – outside of Japan.

01 August 2016

Big, old and in retail – a recipe for confusion

Older, established retail brands in the UK have been suffering in recent years and could now face further negative effects from Brexit. Against this backdrop, Claire Williams, an associate at Debevoise & Plimpton, looks at how retention of title clauses in retailers’ contracts with suppliers can complicate matters, particularly in the absence of cross-border harmonisation for these legal instruments.

25 July 2016

BRUSSELS: protecting the wealth of Europe

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.

13 July 2016

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