Publication
Essential Corporate News – Week ending 1 November 2024
On 30 October 2024, the Chancellor of the Exchequer delivered the Autumn Budget 2024.
Those of us practicing in the insolvency world are often called upon to make plans based on predictions as to the future of the global economy. As recently reported in the Wall Street Journal, the International Monetary Fund sees 2024 growth at 3.2 percent, up from an earlier forecast of 2.9 percent. The improved outlook owes mainly to the continued strength of the US economy. The IMF, however, suggests that prospects for longer-term are far less rosy: “By 2030, the world economy is likely to be growing 2.8 percent a year—a full percentage point less” than in recent years. According to the IMF, that is largely due to slower growth in the labor supply because of aging populations in much of the world. In addition, geopolitical risks posed by elections and conflicts between states have inevitable knock-on effects on the global economy.
All the more reason for insolvency practitioners to stay current on restructuring news throughout the world. In this issue our lawyers bring you up to date on developments in the UK, Singapore and the Netherlands as well as insolvency reform in Armenia and Bhutan. And don’t miss our annual review of cross-border cases in Chapter 15 in the US.
Good reading and look forward to seeing many of you at the upcoming INSOL International conference in San Diego!
Good reading,
Howard Seife
Global Co-Head of Restructuring
New York
Scott Atkins
Global Co-Head of Restructuring
Sydney
Publication
On 30 October 2024, the Chancellor of the Exchequer delivered the Autumn Budget 2024.
Publication
In a recent decision, the English High Court struck out what it described as a ‘hopeless and abusive’ claim that amounted to a de facto challenge to an award issued in a London-seated LMAA arbitration.
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