For the first time since the start of the pandemic, ABI held its annual International Insolvency & Restructuring Symposium in person, returning to London Oct. 13-14. The symposium was held in conjunction with the American College of Bankruptcy, the International Insolvency Institute (III), INSOL, IWIRC and TMA Europe, and featured many of the hottest topics in international restructurings.
Among the issues featured was whether the so-called “Texas two-step” could, and concomitantly should, be exported from the U.S., recent developments in rescue financing, recent developments on the European Directive, the effect of rising interest rates on future restructurings, and ESG issues in restructurings. There was also a panel discussing the legal issues affecting customers and other creditors in the latest cryptocurrency insolvencies cases, including Voyager and Celsius.
As the Symposium was held in London, the International Insolvency Institute presented a panel on the U.K.’s consultation period on whether to adopt UNCITRAL’s two new model laws as a complement to the Model Law on Cross-Border Insolvency — that is, the Model Law on Recognition and Enforcement of Insolvency-Related Judgments, and the Model Law on Enterprise Group Insolvency. Finally, former Delaware Chief Judge Christopher Sontchi talked with ABI President and former colleague Kevin Carey about his new position in Singapore and his decision to leave the bench in Delaware.
Stay tuned for details of 2023’s symposium, which will take place in Lisbon, Portugal!