To our clients and friends

It is always a bit of a challenge to write a new and fresh introduction to the International Restructuring Newswire. So, for this issue, I decided to seek help from Copilot, the new AI-powered chat mode of Microsoft. Given the profession of many of our readers, I asked Copilot: “what are the prospects for business financial restructuring professionals given the strong US economy coupled with the geopolitical problems around the world?” I really didn’t know what kind of answer to get from our AI friend—but you can judge for yourself:

While the strong economy provides opportunities, geopolitical complexities demand vigilance. Business financial restructuring professionals must stay informed, anticipate risks, and navigate uncertainty. Their role extends beyond numbers—it’s about safeguarding businesses in a dynamic world. Remember, adaptability and foresight are their compass in uncharted waters. – [citing to a KPMG article]

Not bad, but pretty generic and obvious. We offer something different in this issue: articles providing specific analysis of recent developments in the cross-border restructuring world from our lawyers in the US, UK, Netherlands and Canada. Not to shame my friend at Copilot, but I would think the information in these articles will be of greater value as you face real problems in the nonvirtual restructuring world.

I trust that you will agree . . .

• The European Commission’s proposed directive harmonising certain aspects of insolvency law – What does it say and where does it stand?
• Chinese property developer Sunac receives Chapter 15 recognition
• English High Court confirms validity of Galapagos SA out of court restructuring
• CCAA Court's jurisdiction to suspend contractual restrictive covenants in the context of a sale process

Good reading!

Howard Seife
Global Co-Head of Restructuring
New York

Scott Atkins
Global Co-Head of Restructuring
Sydney

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