In this episode of the International Insolvency Institute’s Global Perspectives podcast, we delve into consensual restructuring procedures in Europe. This podcast features insights from Prof. Annika Wolf (University of Applied Sciences in Emden/Leer), David Ehmke (lawyer, Germany) and Frederic Verhoeven (Hauthoff, the Netherlands). The discussion highlighted the key differences between consensual and more formal restructuring and insolvency procedures. It explored the advantages of consensual restructuring, such as speed, flexibility, confidentiality, value preservation, and the retention of control by the affected parties. However, it also addressed the challenges, particularly in cross-border cases, where differing legal frameworks, cultural variations, and enforcement complexities can make formal mechanisms like WHOA and StaRUG more appealing. Ultimately, the podcast provides a comprehensive analysis of why, in many cases, a bad settlement is preferable to a good judgment. NextGen’s Chairperson, Adam Crane (Baker & Partners in the Cayman Islands), introduces the podcast, which is moderated by Dr. Eugenio Vaccari (Royal Holloway, University of London). The podcast was recorded in early October 2024, with information correct at the time of recording.

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