Amid the changing environment brought on the COVID-19 pandemic, ongoing issues in insolvency around the globe have continued to play out in recent months. In Europe, the UK made its long-anticipated break with the European Union, while Germany and the Netherlands have each enacted into law an EU...
For decades, companies in financial distress in Europe have faced different and at times difficult local laws for restructuring in each member state of the European Union. In most member states, only insolvency regimes offering court-led proceedings have been available. Such proceedings have not...
The UK left the European Union on 31 January 2020. The transitional period, during which EU law continued to apply to the UK and the UK was, in many respects, still treated as an EU member state, ended at 11 p.m. on 31 December 2020 (IPCD). At the 11th hour, the EU and the UK agreed to terms of a...
As 2020 comes to a close, we look back on a year that started much differently than it will end. It started with a high at the 2020 DIC and in a strange twist of unexpected fate, will close on an even higher note because of TMA Innovation. Few words can express my gratitude to a leadership,...
One of my favorite pastimes at the end of the year is perusing retrospective reviews of noteworthy and historical events from the prior 12 months. Even back when I was in elementary school, I loved to review the various Top 10 lists on television and radio (the internet was not quite a thing yet)...
Since the enactment of the U.S. Bankruptcy Code in 1978, there have been myriad economic cycles that have necessitated modifications in the way lending and restructuring communities operate, but nothing like the changes required by the onset of the coronavirus pandemic. This month’s JCR touches on...
How did you gravitate into turnaround and restructuring work? Aiello: Before I became I lawyer, I worked for a Big Four accounting firm, and I developed a financial services background from that. I did a lot of corporate investigations and fraud investigations, anti-money laundering reviews, anti-...
Peter Drucker famously stated, “Culture eats strategy for breakfast.” Strategies are like sand slipping between a CEO’s fingers in the economic roller coaster of 2020, where a pandemic, massive government stimulus, upheaval of work and home life, and restrictions on travel have changed how business...
The COVID-19 pandemic has brought about dramatic economic and social change in the world, most particularly in human behavior, due largely to concerns about the threat to human health. The restructuring community has been no less affected, and U.S. Bankruptcy Courts have not escaped the wave of...
Rent has presented a complicated puzzle during the pandemic for numerous landlords and tenants, and the solutions—inside and outside of Chapter 11—have been unconventional. As foot traffic evaporated due to restrictions prompted by health and safety regulations, and revenue fell precipitously as...
