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Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
As we publish our fourth quarter edition of the Newswire, global economic challenges abound. The International Monetary Fund last week warned that the world economy is heading toward a potentially severe recession as central banks aggressively raise interest rates, Russia's war in Ukraine continues, and supply chain disruptions persist.
In its World Economic Outlook report, the IMF lowered its global growth forecast for next year in the face of "steep challenges" and warned that "the worst is yet to come" for many countries. "Risks to the outlook remain unusually large and to the downside…while global tightening in financing conditions could trigger widespread emerging market debt distress."
With the IMF's warning ringing in our ears, in this issue we attempt to grapple with some of the knottier issues facing the restructuring landscape. We look at a recent decision in Delaware that impacts the ability of foreign companies to restructure in the US, Australian laws dealing with financial crimes in an economic downturn, and proposals in Canada to regulate high cost loans.
Our readers will also note in this issue that we have changed the name of our group from Financial Restructuring and Insolvency to the simpler title of Restructuring. We believe this new name more clearly reflects our group's broad mandate to handle the gamut of matters from out-of-court restructurings to more formal judicial proceedings. Other than the name change, our group remains hard at work advising our clients on issues brought on by the ongoing economic turmoil.
Good reading,
Howard Seife
Global Co-Head of Restructuring
Scott Atkins
Chair, Australia
Global Co-Head of Restructuring
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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