To our clients and friends

Welcome to our latest issue of the International Restructuring Newswire.

"Change is inevitable in music—things change."
– John Coltrane

What legendary jazz musician John Coltrane said about music holds equally true in the restructuring world. Changes in restructuring laws and strategies are inevitable. Practitioners need to be ever vigilant of changes that will have an enormous impact on how to effectively restructure distressed companies.

In this issue, we help to keep you abreast of new developments in a variety of jurisdictions, places where Norton Rose Fulbright advises its clients on the leading cross-border restructurings. In the Netherlands, we look at new cases with far-reaching consequences using the Dutch Scheme (WHOA). Our article on the UK discusses new cross-border jurisdictional techniques based on newly incorporated English companies. How Singapore courts deal with insolvency and cryptocurrencies and evolving techniques in the US for liability management are also covered in this issue. Finally, we look at how Australia's Parliament is embracing change in its far-reaching review of Australia's insolvency laws.

• Cryptocurrency: A perspective from Singapore
• Liability management transactions: Providing new capital and laying the groundwork to cramdown of those left behind
• Restructuring of Royal IHC: New developments under the Dutch WHOA
• Navigating cross-border issues in UK restructuring plans: The lessons from Adler
• Embracing change: A timely "root and branch" review of the effectiveness of Australia's restructuring and insolvency laws

Good reading! And we hope to see many of you at the upcoming INSOL International conference in Tokyo in September.

Howard Seife
Global Co-Head of Restructuring
New York

Scott Atkins
Global Co-Head of Restructuring
Sydney

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