About the Book
Welcome to the 2025 edition of ICLG –
Restructuring & Insolvency. Macfarlanes
is delighted to continue to serve as the Guide’s Contributing Editor. Following on from a year of uncertainty
caused by elections around the globe, the disruption for business looks set to
continue in light of tariff wars, greater tax burdens being imposed by
governments, inflation, high interest rates and supply chain disruption, giving
rise to a growing need for advice from restructuring experts. This year’s edition contains contributions
from many leading practitioners, including an insight into the issues in
restructuring and insolvency across 22 jurisdictions. We are very grateful for their support and we
trust that you will find it valuable should you require expert help in
difficult times. Please do get in touch
with relevant contributors directly, should you need to understand the most
recent developments in any particular jurisdiction, or with me for further
detail on this Guide.
I hope that you keep well.
Table of Contents:
1 International Insolvency Institute – An Overview, Justice Kannan Ramesh, International Insolvency Institute
5 A Bankruptcy and a Brexit Walk Into a Bar: Debt Restructuring in Ireland and England, Simon Beale & Paul Keddie, Macfarlanes LLP, Tony O’Grady & Kevin Gahan, Matheson LLP
10 Directors’ Fiduciary Duties and Insolvency, Stephen D. Zide, Rick S. Horvath & Eric O. Hilmo, Dechert LLP
15 Austria, Martin Abram & Florian Cvak, Schindler Attorneys
23 Belgium, Pieter Wouters, Stibbe
30 Bermuda, Nick Miles & Michele Gavin-Rizzuto, Kennedys
40 Canada, Joe Pasquariello, Andrew Harmes & Josh Sloan, Goodmans LLP
49 England & Wales, Jat Bains & Thomas Birt, Macfarlanes LLP
57 France, Joanna Gumpelson, Philippe Dubois & Dorine Chazeau, De Pardieu Brocas Maffei A.A.R.P.I.
66 Germany, Dr. Thomas Hoffmann, Marlies Raschke, Sabrina Lux & Dr. Maik Grunenberg, Noerr Partnerschaftsgesellschaft mbB
73 Greece, Konstantinos Issaias, Eleana Nounou & Vasilianna Karakatsani, KYRIAKIDES GEORGOPOULOS Law Firm
81 Hong Kong, Eric Woo & Cloris Lai, ONC Lawyers
89 India, Pooja Mahajan & Savar Mahajan, Chandhiok & Mahajan, Advocates and Solicitors
96 Indonesia, Allova Herling Mengko, Dudi Pramedi & Adinda Annisa Madani, SANDIVA
102 Ireland, Michael Murphy, Áine Murphy & Joshua Kieran-Glennon, McCann FitzGerald LLP
110 Italy, Giovanni Bravo & Sara Piccardo, CBB Law
124 Japan, Daisuke Asai, Kanako Watanabe, Mitsuo Shimada & Mai Kurano, Anderson Mori & Tomotsune
130 Mexico, Fernando Pérez Correa Camarena, Zulima Myriam González García, María Fernanda García Zamora & Mileva Maric González González, Pérez Correa González
137 Netherlands, Daisy Nijkamp, Stibbe
145 Portugal, Catarina Guedes de Carvalho & Eva Freitas, Deloitte Legal
152 Singapore, Tham Wei Chern, Samuel Ang Rong En & Anne Lee, Fullerton Law Chambers LLC
159 Switzerland, Tanja Luginbühl & Eva Müller, Lenz & Staehelin
169 Türkiye, Levent Yetkil, Fulya Sert Topçu, Merve Mert Ergün & Serdar Şahin, Aksu Çalışkan Beygo Attorney Partnership
178 USA, Elizabeth McColm & Sean Mitchell, Paul, Weiss, Rifkind, Wharton & Garrison LLP
185 Zimbabwe, Norman Chimuka & Tonderai Sena, ChimukaMafunga Commercial Attorneys
