The 2012 guide to Restructuring & Insolvency

• Editorial: All change

  The panic of 2008 and may be well behind us, but the restructuring and insolvency lawyers are still dealing with the fallout from the crisis

• A lack of jurisdiction

  Alberto Núñez-Lagos Burguera and Teresa Camacho Artacho of Insol Europe explain how a recent Spanish court decision rebuts the presumption of the existence of an establishment

• Respect & recognition

  Harmonising global insolvency regulation is a challenging task, but Insol International president Gordon Stewart is optimistic about the prospects for more coherence in the sector. By Phil Taylor

• Bondholders’ burden

  Bail-ins are a controversial part of many bank resolution provisions. But they can serve a purpose in emergencies. By Phil Taylor

• A comprehensive framework

  Alric Ofenheimer and Marcus Benes of Eisenberger & Herzog detail the insolvency mechanisms available in Austria

• Hurdles to clear

  Thomas Felsberg of Felsberg & Associados looks at the legal and cultural changes which create obstacles to corporate restructuring in Brazil

• Prevention and reorganisation

  Guillermo Sánchez Sava and Gustavo Badilla Araya of Central Law explains Costa Rica’s provisions for prevention and reorganisation proceedings

• Privilege in bankruptcy

  Mika Salonen and Kaisa Voutilainen of Borenius Attorneys at law discuss the overlap between legal privilege and powers of bankruptcy administration in Finland

• Eircom highlights euro break-up clause tension

  The failure of Eircom's restructuring plan has highlighted tensions around the inclusion of eurozone break-up clauses in corporate contracts

• Why German restructuring reform must be bolder

  Countdown has begun to the biggest overhaul of Germany's insolvency legislation, but lawyers predict more amendments are needed if the proposed reforms are to be effective

• Greater attraction

  Richard Buttigieg, Gemma Arias and Michael Castiel of Hassans explain how a new statutory regime under Gibraltar law will affect companies and their creditors

• A new way out

  Nicholas Papapolitis of Papapolitis & Papapolitis provides a critical review of the new procedures of the Greek Bankruptcy Code

• The right remedy

  Arthur Galea Salomone and Tiziana Filletti of Galea Salomone & Associates describe Malta’s procedures for dealing with companies in financial distress

• An updated toolkit

  Juan Ferré and Stefanie Endres of Pluta Abogados provide an overview of important amendments to the Spanish Insolvency Law

• A balancing act

  Alexander Vogel, Daniel Schoch and Debora Kern of meyerlustenberger discuss the range of liabilities on de facto directors and officers under Swiss law

• Lessons from Southern Cross restructuring

  Restructuring solutions are becoming more complex, more expensive and taking longer to implement, according to Clifford Chance's restructuring team

• Get your priorities straight

  Jeffrey D Saferstein and Samuel E Lovett of Paul Weiss Rifkind Wharton & Garrison answer some key questions for creditors involved in a Chapter 11 case