The world economy is experiencing the perfect storm of inflation, interest rate increases, supply chain disruption, and a potential global recession. These conditions exert pressure on trading partners who may have nowhere to turn but each other to relieve pressure. Contract parties are experiencing requests for price increases, extended payment terms, and cancellation of some or all orders. How a contract party addresses these issues depends on the business leverage between the parties and the importance of the business relationship.
On September 15, President Biden announced a tentative deal with unions representing tens of thousands of railroad workers that helped narrowly avoid a strike that threatened to devastate the country’s delicate supply chains that have been strained since the beginning of the pandemic. Now the country awaits the outcome of the union member votes (which we may not know until mid-November), but even if the members approve the deal, the retail sector will still face empty shelves, job vacancies and surging inflation.
Introduction
The Insolvency and Bankruptcy Board of India (IBBI) on 16 September 2022 promulgated the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 (CIRP Amendment Regulations) amending the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations).
The key amendments introduced by the CIRP Amendment Regulations are as follows:
Part 1: Preventative composition as a restructuring tool
As commercial companies in the UAE grapple with increasing inflation and interest rates, constraints to supply chains and labour market challenges, it seems inevitable that the number experiencing financial distress will rise.
Nuo Ji, Lingqi Wang, Jessica Li and Sylvia Zhang, Fangda Partners
This is an extract from the 2023 edition of GRR's The Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
The UK insolvency statistics released on 2 August for Q2 2022 (1 April – 30 June 2022) make for fairly sombre, if not entirely unsurprising, reading.
An 81% increase in corporate insolvencies in England and Wales from the same period in 2021 and a 13% increase in insolvencies from Q1 2022. The worst affected sectors are reported to include food, retail and construction.
This article was first published by the Financier World Wide.
Largely due to the worldwide economic turmoil caused by the global coronavirus (COVID-19) pandemic, recent years have seen global business disruption on a grand scale – a scorched corporate landscape ripe for distressed mergers and acquisitions (M&A) practitioners to pick over.
Trends in traditional M&A activity
Jorge Luis Moreno Félix, Jose Ignacio El-Mir Arnedo, Abraham Maldonado Zenteno and Iván Neftalí Hernández, PwC
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
Introduction
Robert L Rauch, Miller Buckfire & Co
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
This 2022 review provides an overview of recent Australian Restructuring and Insolvency activity along with the laws, their application and recent trends and development in restructuring and insolvency activity.
Chapters: