To our clients and friends

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!

• UK restructuring plans: What does the future hold following the English Court of Appeal’s landmark ruling in Adler?
• Garuda Indonesia’s restructuring recognised in Singapore: The SICC delivers its first insolvency judgment
• The cross-border restructuring of Diebold Nixdorf: US Chapter 11 meets Dutch WHOA meets US Chapter 15
• Proprietary trading: Decision in Canada highlights the broad scope of receivership remedies in cross-border securities transactions
• UK restructuring plan: Cramming up a super-senior creditor class in a unitranche structure
• Year in review: Significant US Chapter 15 decisions in 2023
• ESG and directors’ duties: Are they compatible?
• Insolvency law reform and capacity building in emerging markets update on our experience in Armenia and Bhutan

Good reading,

Howard Seife
Global Co-Head of Restructuring
New York

Scott Atkins
Global Co-Head of Restructuring
Sydney

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