Fourteen years on from Norman Lamont’s “green shoots of economic spring”, Britain’s gross domestic product continues to grow: recession and widespread corporate failure seem to belong to another era. Today, no insolvency lawyer under the age of 35 knows what it is like to work through a slump, although many will have been involved in the protracted fallout from Barlow Clowes, BCCI, Maxwell, Polly Peck and Olympia & York. But, while the recessions of 1973-’74, 1980-’81 and 1990-’91 were frenetic times in insolvency, some business failures – Barings, Enron and Marconi – will inevitably happen, no matter how buoyant the economy.
Once misunderstood as mere legal undertakers, insolvency practitioners, like lawyers in many specialist areas, have been bombarded by a wealth of new domestic, European Union and international legislation. Combined with the inexorable rise in cross-border corporate activity, this means that even the bad times are good at the insolvency Bar.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]