The third webinar was titled “Legislative Reforms & News Trends in Insolvency Law” and was featured by policy makers.

Speakers included:

• Catherine Bridge Zoller. Senior Counsel, European Bank for Reconstruction & Development
• Andrés Martínez. Senior Financial Sector Specialist, World Bank
• Rodrigo Olivares-Caminal. Chair in Banking and Finance, QMUL. Of Counsel, Kepler-Karst
• Prof. Em. Christoph G. Paulus. Associate Member of South Square (London) and Of Counsel at White & Case (Germany)
• Ignacio Tirado. Secretary General, UNIDROIT – International Institute for the Unification of Private Law

The main findings were that when reforming bankruptcy processes, public officials need to listen to the private sector, because sometimes reforms are carried out with very little consultations. Policymakers need to be aware of the issues and bottlenecks experienced in their jurisdictions, so the solutions are tailored to the specific needs of the country and are not just a copy-paste from another country’s legislation. In this regard, it is critical to have processes that assess specifically SMEs companies, as most laws are designed for large companies. In these cases, the difficulty relies on how to make insolvency processes more expedient, while guaranteeing creditor’s rights.