Global restructuring & insolvency
January 2013 | SPECIAL REPORT: Global restructuring & insolvency
Financier Worldwide Magazine
Though the financial crisis of 2008 may be fading into history, the world continues to grapple with its effects. Restructuring and insolvency advisers in particular are still dealing with the aftermath. While 2010 and 2011 saw a reduction of large filings and restructurings, as the market was buoyed by increasing liquidity, the biggest challenge now is simply keeping track of the myriad laws and regulations implemented in the past year. Countries such as Greece, Germany and Spain have updated their bankruptcy laws and the EU is seeking to harmonise insolvency processes across Europe. In the US, MF Global’s collapse has exposed the issues that remain in unwinding securities firms in the post-Lehman era. In addition, an extra layer of complexity has been added by Basel’s proposed rules on systemically important financial institutions. The fragile recovery is becoming increasingly complicated.
IN ASSOCIATION WITH
Otterbourg, Steindler, Houston & Rosen P.C.
Kirkland & Ellis LLP
Turnaround Management Association