July/August 2024
Feature Article
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Reforming Insolvency Frameworks to Facilitate Economic Renewal
Against the background of a nearly two-decade decline in productivity growth across Organisation for Economic Co-operation & Development (OECD) countries and rising economic uncertainties, the role of sound insolvency frameworks in business dynamism and economic renewal has attracted the attention of policymakers. In recent years, governments have reformed insolvency procedures to facilitate a swift and […]
More from this Issue
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International Restructuring In This Moment
Remedies for dealing with defaulting debtors have come a long way—physical bondage in ancient Babylon, sale into slavery in ancient Rome, and wage servitude of both debtors and families across many Eurasian and Middle Eastern legal systems were traditional punishments of defaulting debtors. Abhorrent debtor prisons, taking away freedoms, were not abolished across Europe and […] -
The Appreciating Value of Membership
In this summer of TMA activity, I want to take time to focus on two critically important aspects of what it means to be part of TMA—membership and leadership. Membership matters, and time and again we are reminded of that in so much of how all of us engage with opportunities all throughout TMA. The […] -
Passing the Torch
Summer is here and it is time for another NextGen Leadership Conference. This year’s event, held July 25 in Toronto, promises to be another great conference featuring the best and brightest up-and-coming restructuring practitioners from around the globe. This year, I’ve had the honor of serving as co-chair, alongside Pat Bellot, of the TMA Global […] -
Reforming Insolvency Frameworks to Facilitate Economic Renewal
Against the background of a nearly two-decade decline in productivity growth across Organisation for Economic Co-operation & Development (OECD) countries and rising economic uncertainties, the role of sound insolvency frameworks in business dynamism and economic renewal has attracted the attention of policymakers. In recent years, governments have reformed insolvency procedures to facilitate a swift and […] -
Investigating Insolvency Trends in India
India’s restructuring landscape has undergone substantial transformation in recent years, primarily driven by 2016’s Insolvency and Bankruptcy Code. This comprehensive statute has revolutionized the country’s approach to corporate insolvency and restructuring, offering a robust framework for the resolution of distressed assets. This single statute incorporates the corporate insolvency resolution process (CIRP) and liquidation for companies, […] -
Serbia: Bankruptcy & Reorganization In A Developing Nation
The Republic of Serbia had adopted legal regulations on companies with EU legislation in its previous reform in 2004. All EU directives regarding issues of business activity already adopted by the EU Council were included in Serbian company law. By improving the legal system around corporate reorganization, the country is taking steps to improve the […] -
A Time of Transition in the U.K. Restructuring Space
The macroeconomic picture remains difficult in the U.K., with 2023 producing more corporate insolvencies in the U.K. than any year since 1993. Likely contributing factors include the withdrawal of COVID-19 support measures, higher borrowing and operational costs, and a tightening in consumer spending. Although inflation has peaked and interest rates are expected to start falling […] -
Australian Credit Bids Practice & Trends
C redit bidding allows the creditor of a company to bid for and acquire the assets of (or shares in) that company in a restructuring, enforcement or insolvency process by using the value of the debt owed to them as all or part of the consideration for that transaction (generally by agreeing to set-off or […] -
A Promising Refinement to Restructuring & Insolvency in the UAE
The legislative framework of the United Arab Emirates comprises onshore—or mainland UAE, which follows federal, civil law—and offshore financial free zones, primarily the Abu Dhabi Global Market (ADGM) and Dubai International Financial Centre (DIFC), both of which follow common law. In total, however, there are over 40 operating free zones, each with its own regulations. […] -
The Rise of the CRO & Rescue Financing in Asia
The role of a chief restructuring officer (CRO) is well established in the North American and European markets. More recently, the appointment of a CRO has also become an essential part of the restructuring toolkit in Asia. In the dynamic world of business, companies often face periods of financial distress, operational inefficiencies, or strategic misalignment. […] -
Newcomers: July/August 2024
International Gary Lembo, Paladin Gbenga Sholotan Arizona Lindsi Weber Atlanta Shayan Taheri, Georgia State University Carolinas Charlie Bacon, SouthStar Capital Bianca Briola, Alvarez & Marsal Central Texas Arun Varanasi Chesapeake Shawn Leventhal, Huron Brady Richardson, SC&H Capital Chicago/Midwest William Clark, The Keystone Group Robin Evans, Katten Muchin Rosenman LLP Garret Fitzgerald, Uprising Solutions Enzo Hsu, […]