IPs predict an increase in cross-border insolvencies
Recent research has found that approximately two thirds of insolvency practitioners in the UK expect the number of insolvencies involving offshore jurisdictions to increase over the next three years, as a result of an uplift in activity in financial services.
Many IPs are of the opinion that courts in different jurisdictions should collaborate more in order to make cross-border insolvencies fairer and more efficient.
The Cayman Islands have been identified as having the most effective insolvency laws, followed by the British Virgin Islands and Hong Kong.
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