The UK was considered to be the most-effective insolvency regime amongst the global participants surveyed. This is some consolation given the potentially adverse implications that Brexit may have on the UKs share of the global restructuring market.
Offshore access to funding, and the cost and speed of hearings remain challenging. These issues were cited as challenges back in 2015 and remain the areas where offshore jurisdictions are rated less strongly.
Although our research reveals a general preference to instruct local advisors, 60% of respondents said the presence of cross border aspects would have a significant influence on their decision to instruct counsel or insolvency practitioners based onshore.
For further insights into cross border insolvencies, download the full report.