Recent years have offered slim pickings for restructuring and insolvency professionals. While there have been a few headline-grabbers – such as Polestar, Eurotunnel and GAL – major restructurings have been noticeable by their absence, and big-ticket insolvency work has all but dried up.
It is not hard to understand why, given that since the bursting of the tech bubble in 2001 there has been a liquidity explosion – a ‘wall of cash’ readily available for struggling businesses, with an ever-increasing number of players willing to provide it.
