Following our second installment in the Winter edition of Eurofenix, we continue our series of interviews with former presidents of INSOL Europe, looking back to see just how far we have come today... Michael Thierhoff (2006-07) How has the world of insolvency changed over the past 30 years? When INSOL Europe was founded in 1981 I had just started my professional life as an audit assistant with one of the then so called Big 8 Firms. I was as far away from insolvency as one could be.

Europe's escalating debt troubles have forced the 17 euro-zone governments to begin serious talks over something that has until now has been strictly theoretical—how to turn their common currency area into a full-fledged economic union, The Wall Street Journal reported. That goal, which will entail euro-zone nations taking on responsibility for other countries' budgets and banks, lies far down a path that is beset by multiple, potentially fatal pitfalls.

EUROPEAN UPDATE: From Bondholder to Equityholder: Still a Difficult Route in Germany? (citation: Annerose Tashiro, From Bondholder to Equityholder: Still a Difficult Route in Germany?, XXXI ABI Journal 5, 44-45, 84-85, June 2012) - Annerose Tashiro

CLIENT ALERT
In Destabilizing Decision for Secured Lenders, 11th Circuit Reverses TOUSA District Court

Spain is moving closer to the financial tipping-point that could force it to ask for a bailout as the country's borrowing costs neared unsustainable levels Wednesday. The country's economic fortunes have gone from boom to bust over the past decade. Here are the main developments: BIRTH OF THE EURO -Spain is one of the 12 countries that launched single European currency in 2002. The euro is now shared by 17 countries.

28/5/2012: It's the story of the euro crisis: for every problem solved, two new ones emerge. So it is with the recapitalization of Bankia. Madrid's decision Friday to provide €19 billion ($23.78 billion) of new capital to Spain's largest domestic lender is a major step forward in confronting the country's four-year property bust. But it has left the government nursing a number of fresh headaches that it looks increasingly unable to treat on its own, The Wall Street Journal Heard on the Street blog reported. The first concerns the read-across to other Spanish banks.

Bankruptcy Client Alert
May 29, 2012

The attached GT Alert -- Supreme Court Holds that Free and Clear Sale Plan Cannot be Confirmed Without Preserving Secured Creditor’s Credit Bidding Rights -- was prepared by John B. Hutton III and G. Ray Warner. 

 

United States Supreme Court Approves Credit-Bidding in the RADLAX Case: