International Corporate Rescue
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Vol 23 (2026) - Issue 2
Article preview
Restructuring: 2025 in Review and Predictions for 2026
Nicholas Fortune, Partner, Orient Koci, Research Analyst, Market Intelligence, Katharina Crinson, Counsel, and Tim Lewis, Trainee Associate, Freshfields LLP, London, UKSynopsis
If recent years were marked by the development of a new generation of court-based restructuring tools, 2025 was the year they were stress-tested. Combined with the arrival of aggressive US-style liability management exercises ('LME') in Europe and litigation connected to them, the global restructuring environment is now more complex and contentious than ever. In this year-end review, we dissect these global trends and forecast the key battlegrounds for 2026 across major European jurisdictions.
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