As restructuring and cross-border insolvency issues become increasingly global, an understanding of the influence of different cultures and some of the key drivers is critical.  The INSOL panel was diverse, with members from Asia (Helena Huang, King & Wood Mallesons), North America (Renee Dailey, Morgan, Lewis & Bockius LLP), South Africa (Paul Winer, ENSafrica) and Latin America (The Honourable Judge Maria Cristina O’Reilly, National Commercial Court, Argentina).  The panel shared a number of useful observations which demonstrate the way in which different cultures can affect the process and outcome of a restructuring – here are some of the keys points: 

There has been great discussion over the course of INSOL on the various restructuring and insolvency reforms being considered or implemented globally. In the break out session ‘The good, the bad and the ugly: national and regional law reforms’, panellists drilled down into the detail of some of these reforms. The panel considered reforms in the EU (Prof. Christoph Paulus, Hamboldt-Universitat zu Berlin), the UK (Mark Craggs, Norton Rose Fulbright LLP), Singapore (Sushil Nair, Drew & Napier LLC), and the US (Donald S. Bernstein, Davis Polk & Wardwell LLP), as well as UNICTRAL’s work on harmonising and developing insolvency law globally (Jenny Clift, UNCITRAL Secretariat).