International Insolvency Focus Group |
| Licensed Insolvency Practitioner Norman Cowan of Wilder Coe LLP has spoken out about insolvency and the global credit crunch at a recent conference in Luxembourg. Addressing other business owners in the joint presentation with representatives from Druces & Atlee Solicitors, Norman outlined current circumstances and economic forecasts before going on to identify early warning signs of a business in financial difficulty.
The conference was hosted by Integra International, a global alliance of independent business advisers. Norman touched upon the concept of ‘Stagflation’, a term first coined by former Conservative MP and Chancellor of the Exchequer Iain McLeod, to denote a condition of slow economic growth and relatively high unemployment accompanied by a rise in prices. Norman went on to look at the cross border complexities of business insolvencies that, in an increasingly global market, are no longer the remit of just the largest conglomerates. He advised on ways firms can exchange information about the differing regulations of each sovereign country in relation to insolvency matters. Norman said: “The world has until recently been fortunate to enjoy, generally speaking, a buoyant global market. In the current economic climate, however, inevitably some businesses will be unable to trade and become insolvent. It is my understanding that the mission of Integra International is to assist in issues of cross border insolvency of which clients of its members are involved, allowing members to request assistance from specialists in insolvency to enable them to better represent and advise the client.” In conjunction with Druces Atlee, Norman is heading up a focus group within Integra to assist with the international issues, provide advice on local laws and currencies and make enquiries as to the recoverability of a debt. For more information contact Norman at Wilder Coe LLP on 020 7724 6060 |
