Insolvency Bitesize - January 2023

Welcome to our first Insolvency Bitesize edition for 2023

Reflecting on the year that has gone reveals an intensification of the challenges faced by advanced economies and emerging markets alike. As we embark on a new year, the twin shadows of lockdown and conflict loom large for business. The era of easy global money is over. The posturing of geopolitics and the stuttering of complex global supply chains are forcing a reassessment of the merits of globalisation strategies with inevitable implications for entrepreneurial activity.

In this edition, we consider what this might mean for 2023. We highlight two standout legal decisions for last year, update you on the Insolvency Service’s final evaluation report on the CIGA reforms and cast a glance to the EU’s new proposed directive on insolvency law harmonisation. Its proposed new pre-pack proceeding might not be what secured creditors expect.

Whatever lies ahead, 2023 promises to be a year full of change and opportunity. We look forward to updating on legal developments in further editions of Insolvency Bitesize.

As ever, please get in touch with any questions you may have.