A slowdown in the global economy, rising interest rates and inflationary pressures put insolvency issues at the forefront of the regulatory debate.

On 11-12 November 2022, the Chicago-Kent Law School, together with the International Insolvency Institute, organized the 4^th International and Comparative Insolvency Symposium to discuss the challenges faced by governments, companies and people caused by a slowdown in the global economy, rising inflationary pressures and lower consumer demand. The full programme is available here.

Dr Eugenio Vaccari (Lecturer in Law at Royal Holloway, University of London) presented a paper with Professor Laura N Coordes (Arizona State University). Professor Yseult Marique (University of Essex), co-investigator in the project, joined virtually.

Their paper looked at the treatment of municipalities, councils and local entities in distress. The presentation provided the rationale for and primary features of principles and guidelines underpinning a potential model law for the treatment of distressed local public entities (LPEs). In the presentation and the underpinning article, which will be published next year by the Chicago-Kent Law Review, Dr Vaccari and his co-authors contended that a model law for LPE distress should take a modular approach, outlining alternative options that can be tailored to different jurisdictions’ distinct legal traditions and cultures.