The number financial restructuring and insolvencies is on the rise in the Asia Pacific region and despite low interest rates helping to cushion borrowers, depressed commodity prices have taken the number of global corporate defaults to their highest levels since 2008.
For lawyers, an increase in work with respect to distressed situations is only likely to continue, Herbert Smith Freehills partner Paul Apáthy told Australasian Lawyer.
The general feedback from clients in the region is that the issues are yet to peak, he said.
There is however a general feeling that the scale of the issues in many cases will require parties to grapple with underlying issues of debt sustainability sooner or later given the …
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