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Argentina

Fernando D Hernández

"Due to the lack of adoption of structural economic changes, in the past decades Argentina has struggled to control its federal primary fiscal deficit, inflation and depreciation of the local currency..."

Australia

David Walter, Maria O'Brien

"The number of formal insolvency proceedings in Australia have been in decline in 2017 and 2018..."

Brazil

Bruno Carriço, Luiz Fernando Valente de Paiva

"Although the official data has not been released as of the time of writing, our experience was that the number of insolvency filings in 2018 was similar to the 2017 number..."

Canada

"According to statistics compiled by the Office of the Superintendant of Bankruptcy, the third quarter of 2018 saw the most significant year-to-year increase in business insolvencies for several years, with a 4.6 per cent growth in insolvency filings in Q3 2018 over Q3 2017..."

Colombia

José Vicente Zapata Lugo, Luis Alfonso Riveros, Luis Guillermo Acero

"Jose V Zapata, Luis G Acero, Luis A Riveros: According to the information issued by the Colombian Superintendency of Companies (the authority competent to resolve the majority of insolvency cases in Colombia), the past several years saw a change in trends regarding insolvency procedures, showing a substantial increase in the number of filings for these types of procedures. This trend continued until 2018..."

France

Alexis Hojabr, Saam Golshani
White & Case (Paris)

"The past year confirmed the 2017 market’s uptrend, that is, 2018 saw a tangible improvement in the global framework and resulted in a decrease in insolvency cases..."

Japan

Akira Hidaka, Hiroyasu Ueda, Kanako Watanabe

"The number of insolvency filings in Japan has been decreasing for the past several years..."

Spain

José Christian Bertram

"The trends of the past year have continued, in the sense that we are seeing more sophisticated pre-insolvency filings, which grant the company an additional period of three months to negotiate a restructuring, failing which it will have to file for insolvency within an additional month..."

Turkey

Ali Gözütok, Gökben Dirican
DİRİCAN | GÖZÜTOK | BAĞCI, No firm

"High inflation and increased foreign borrowing caused a financial crisis in Turkey starting from last August with an unprecedented crash of the Turkish lira against all major foreign currencies, such as a decrease of more than 40 per cent of its value against the US dollar..."

United Kingdom

David Ereira
Paul Hastings (London)

"The past year has been dubbed the year of the CVAs (company voluntary arrangements) as, to date, a record number of retailers such as New Look, House of Fraser, Carpetright, Mothercare and Homebase and casual dining chains (eg, Prezzo, Jamie’s Italian, Byron and Carluccio’s) have sought to implement a CVA to compromise unsecured debt..."

United States

Pedro Jimenez
Paul Hastings (New York)

"In 2017, we saw an increase in pre-packaged or pre-negotiated public company Chapter 11 restructurings with nearly one in four of the year’s total bankruptcies cases where the debtor had already negotiated at least some of the terms of its reorganisation or restructuring with a sponsor or a large majority of its creditors..."

Venezuela

Luisa Acedo, Luisa Lepervanche, Manuel Acedo Sucre
Mendoza Palacios Acedo Borjas Páez-Pumar & Cía (Caracas)

"In order to understand the Venezuelan situation in general, and, in particular, the current insolvency practice, we need to focus on the general context..."