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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

08 JUN 2012

Some News and Events from INSOL International

INSOL have published the following information, which will be of interest to blog readers:

"INSOL International Colombia One Day Seminar - Thursday 4th October 2012


INSOL International is delighted to announce that its 2012 Latin America One Day Seminar will be held in Cartagena, Colombia on Thursday 4th October 2012. 

Cartagena de Indias is a delightful resort on Colombia's Caribbean coast, a veritable treasure trove of colonial architecture and 17th-century forts. It has many fine beaches, great restaurants and an entirely walkable historic old town which was declared a UNESCO World Heritage Centre in 1984. The venue is Hotel Sofitel Cartagena Santa Clara, originally built as a monastery in 1621. The hotel is situated in the heart of Cartagena, where its walls, which acted as a shield in ancient times, combine with colonial balconies and republican structures to evoke the splendour of days gone by.

The chair of the seminar, Luis G. Velez, Superintendent of Companies in Colombia and the main organising committee are preparing a stimulating educational program. 


The educational program will be over five sessions, and include practitioner and judicial input by discussion, presentation and debate.  Topics will include recognition of Latin American proceedings in US courts; out of court restructuring; successes and problems of global asset tracing and regional case law updates.


The seminar will benefit from simultaneous translation in Spanish and English.


We anticipate that this will be an exciting and well attended seminar.  The Registration brochure and further details of the educational program and online registration is now available at  http://www.insol.org/page/254/insol-international-colombia-one-day-seminar


For further information contact Penny Robertson at pennyr@insol.ision.co.uk


INSOL International Mumbai One Day Seminar – Saturday 8th December 2012

Taj Lands End Hotel, Mumbai


Following on from the successful one day seminar held in Delhi in 2010, INSOL is holding it’s second India seminar in Mumbai at the world-renowned Taj Lands End Hotel.


The theme for the day will be Corporate Restructuring, Rescue and Rehabilitation with senior figures from within the profession both in India and overseas speaking on key issues.


To register your interest contact Penny Robertson at pennyr@insol.ision.co.uk

Save the dates in your diary now!



We are looking for applications for the Richard Turton Award

Richard Turton had a unique role in the formation and management of INSOL Europe, INSOL International, the English Insolvency Practitioners Association and R3, the Association of Business Recovery Professionals in the UK.  In recognition of his achievements these four organisations jointly created an award in memory of Richard.  The Richard Turton Award provides an educational opportunity for a qualifying participant to attend the annual INSOL Europe Conference.

In recognition of those aspects in which Richard had a special interest, the award is open to applicants who fulfil all of the following:

  • Work in and are a national of a developing or emerging nation
  • Work in or be actively studying insolvency law & Practice
  • Be under 35 years of age at the date of the application
  • Have sufficient command of spoken English to benefit from the conference technical programme
  • Agree to the conditions below

Applicants for the award are invited to write to the address below enclosing their C.V. and stating why they should be chosen in less than 200 words by the 1 July 2012.  In addition the panel requests that the applicants include the title of their suggested paper as specified below.  The applications will be adjudicated by a panel representing the four associations.


The successful applicant will

  • Be invited to attend the INSOL Europe Conference , which is being held in Brussels from the 11-14 October 2012, all expenses paid.
  • Write a paper of 3,000 words on a subject of insolvency and turnaround to be agreed with the panel.  This paper will be published in summary in one or more of the Member Associations journals and in full on their websites.
  • Be recognised at the conference and receive the Richard Turton Award Certificate.

Interested?  Let us know why you should be given the opportunity to attend the IE Conference at the recipient of the Richard Turton Award plus an overview of your paper in no more than 200 words by the 1st July to:


Richard Turton Award

C/O INSOL International

6-7 Queen Street, London EC4N 1SP

Fax: +44 (0) 20 7248 3384

E-Mail: Claireb@insol.ision.co.uk


Too old? Do a young colleague a favour and pass details of this opportunity on.


Applicants will receive notice by the 1st September 2012 of the panel's decision.



Member Association News



The Americas


American Bankruptcy Institute (ABI)




ABI will hold its Eighth Annual International Insolvency and Restructuring Symposium in Rome, Italy, on Oct. 18 at the Hotel Parco Dei Principi. The educational program has been developed to provide attendees with an interactive learning experience led by a faculty of prominent international insolvency practitioners. The advisory board for the program is chaired by Fausto Severini (the former Chief Judge of the Commercial Case in Rome) and he is joined on the board by Dr. Lodovico Zocca of Lumsa University (Rome) and Lucio and Enrica Ghia from Studio Legale Ghia (Rome).


The Symposium will include some of the world's top professionals in restructuring speaking on the industry's hottest topics. The "America Now!" session will feature Chief Bankruptcy Judge James M Peck (S.D.N.Y.), James Millstein, former Chief Restructuring Officer in the U.S. Treasury, Bryan Marsal of Alvarez & Marsal (New York) and the former CEO of Lehman Brothers Holdings, Inc., and James L Bromley, the head of restructuring at Cleary Gottlieb Steen and Hamilton (New York). On a separate panel, Jay Goffman, the head of restructuring at Skadden Arps (New York) and Alan J. Carr of Strategic Value Partners (Greenwich, Conn.) will lead a discussion on distressed investing in Europe.


For more information on attending ABI's Eighth Annual International Insolvency Symposium, please contact Elizabeth Carden at ecarden@abiworld.org. 


ABI’s latest title, Insolvency Law in Canada: A Primer for Practitioners written by Frank Spizzirri of Baker & McKenzie LLP (Toronto), provides an excellent introduction to the judicial, regulatory and legislative frameworks that characterize Canada's legal system, and touches on the major bankruptcy and insolvency themes—bankruptcy, restructurings, receiverships and selected topics—that cross all types of insolvency proceedings. It covers Canada's key insolvency statutes, including the Bankruptcy & Insolvency Act and the Companies' Creditors Arrangement Act, as well as a number of other laws that affect insolvent companies, their creditors and other stakeholders. Insolvency Law in Canada is an invaluable resource to cross-border practitioners who wish to develop a solid understanding of the law and Canadian bankruptcy practice. Insolvency Law in Canada is available for purchase in ABI’s Bookstore.



Mark November 8 on your calendars for ABI’s Mexico Cross-Border Insolvency Program set to take place at the Four Seasons in Mexico City. Top insolvency experts from the U.S. and Mexico will be providing panel discussions on the hottest cross-border issues. For more information, please contact Jenn Dugas at jdugas@abiworld.org.

Canadian Association of Insolvency and Restructuring Professionals (CAIRP)


The 2012 CAIRP Annual Conference will be held at the Fairmont Banff Springs Hotel in Banff, AB.


Dates: Tuesday August 14 to Friday August 17, 2012

Location: Banff Springs Hotel - Banff, AB


The Annual Conference Committee has reserved a block of standard Fairmont hotel rooms and suites. We have secured an exceptional rate of $239 (plus taxes and service charges). The Banff Springs will honour our special rate for three (3) days before and three (3) days after the CAIRP Conference based on availability.


Reserve your accomodations by calling the Fairmont Banff Springs at 1-403-762-2211. Refer to conference code "CAIRP2012" when booking.

For more information on the Fairmont Banff Springs Hotel, it's facilities, programs, and golf courses please go to fairmont.com/banffsprings.


To register – contact Joshua Katchen at Joshua.katchen@cairp.ca

For more details please visit our web site at www.cairp.ca


Commercial Law League of America, Bankruptcy and Insolvency Section - (CLLA ) Calendar of Events

Ethics and e-Discovery Education Event at Ravinia -- Followed by a Free Concert! -- Presented in Conjunction with the Midwest Region

Strategic Planning & Leadership Conference

Western Region Conference

CLLA Events At The NCBJ

92nd Fall Meeting in New York, Presented In Conjunction with the Eastern Region

  • Sheraton New York Hotel and Towers, New York NY
  • November 8, 2012 - November 10, 2012
  • Click for details...




International Women's Insolvency & Restructuring Confederation (IWIRC)


Join IWIRC members in Paris in the Winter Garden of the Westin-Vendome for a reception on June 20, 2012 immediately before the International Insolvency Institute’s 12th Annual Conference.  For details and to register, click hereCheck out our website, www.iwirc.com, for upcoming events at local networks around the world, including (but not limited to!):, A screening of the documentary, Miss Representation in New Jersey; Tall Ship Adventure in Chicago and a Private Tour of the National Portrait Gallary in Washington, D.C.

International Women's Insolvency and Restructuring Confederation (IWIRC)


IWIRC is committed to the connection, promotion and growth of women in insolvency and restructuring professions worldwide.  Since 1994, IWIRC has been connecting women worldwide through a global membership of more than 1000 attorneys, bankers, corporate-turnaround professionals, financial advisors and other restructuring practitioners.  The organization provides its members with relationship-building, educational, career enhancement and promotional opportunities.  For more information, visit us at www.iwirc.com.


IWIRC PMB 130 / 10332 Main Street / Fairfax, Virginia 22030-2410 USA

Tel: +1 (703) 449 1316 / Fax: +1 (703) 802 0207


Turnaround Management Association (TMA)

TMA International News and Journal of Corporate Renewal Digital Editions Now Available

TMA is excited to introduce a new app that allows you to read TMA International News and the Journal of Corporate Renewal (JCR) on your tablet and smartphone. The app can be found on the App Store or on Google Play. You also can read the publications online in an easy-to-read digital format. Check out the latest issue of the JCR or TMA International News.

Pan Pacific Rim

Hong Kong Institute of Certified Public Accountants (HKICPA)

The Hong Kong Institute of CPAs has published a new professional ethics statement for insolvency practitioners, entitled Professional Ethics in Liquidation and Insolvency. This new statement, which appears as section 500 of the Code of Ethics for Professional Accountants, updates and replaces the existing section 432 of the code, Integrity, objectivity and independence in insolvency, with effect from 1 April 2012. It adopts a principles-based approach, setting out five fundamental principles to which insolvency practitioners should adhere, the threats to compliance with the fundamental principles and the more common types of threat that insolvency practitioners may face. It also contains some examples of specific situations that may occur.


Insolvency Practitioners Assocation of  Australia (IPA)



2012 National Conference Wrap up


The National Conference continues to set new records for attendance, with just under 380 delegates, and for the breadth and quality of the technical program, and the calibre of invited speakers. This was the IPA’s nineteenth annual National Conference, and celebrated eighty years of the IPA and its precursors working to build professional excellence in the insolvency and reconstruction sector. It was hosted by the Victoria and Tasmania Division and held at the Crown Conference Centre in Melbourne’s Southbank precinct. We were delighted to have everyone from some of the most senior practitioners in the country to the most recent Graduates of our core education program attend in a range of roles from delegate, presenter and guest. Another record was set for the Conference Dinner, with just on 600 conference delegates and their guests, IPA Directors and Committee members, sponsors, staff and speakers enjoying an evening of entertainment and professional networking.


30th Annual General Meeting 2012


At the Annual General Meeting immediately preceding the Conference, our 2011 Annual Report was tabled. This included the Directors report and Financial Statements that were provided to Members with the meeting notice. At the AGM we noted the retir

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