2010 is flying by and the coming months look as though they will be really interesting for a number of reasons.
Our huge national debt must be top priority for the new Government. As well as anticipated cuts in public spending and rising interest rates, further tax increases must be on the cards if we are to address the debt problem. What is unclear is the timing of any changes and the impact on consumer spending and personal debt, once these start to bite.
England’s chances seem as good as anyone’s and on this theme, we delve into the past life of David Hudson, one of our London partners and former professional player, as he teams up with two of my other Restructuring and Recovery colleagues to form our World Cup pundit panel.
In addition to the above, we include articles on the Bribery Act, now it has gained Royal Assent; our international work on Awal, a distressed bank in Bahrain – as well as a brisk review of a number of industry sectors facing fresh challenges.
I hope you find this issue more topical and timely than ever, as we wait to see how the current uncertainty unravels.
May I take this opportunity to wish you an enjoyable summer.
Download a full pdf version of evolution: Outlook unclear (1MB)
In this issue
Beware public sector impact
We believe business distress will increase over the coming months, regardless of who forms the next government.
Hardball – HMRC and Time to Pay
The Revenue is increasingly likely to blow the final whistle on cash-strapped businesses rather than allow extra time. This could have a significant impact on lenders.
Round-the-world restructuring
Downturns and recessions affect all parts of the world – none are immune.
Scrutiny and enforcement steps up a gear in the UK and overseas
In March this year, three members of the Board of ALSTOM, a leading company in international transport and energy infrastructure, were arrested in the UK on suspicion of bribery and corruption, money laundering and false accounting. In addition, four executives at Rio Tinto were sentenced to between seven and 14 years on bribery and secrets charges in Shanghai.
From saving goals to saving businesses
Our very own London partner, David Hudson, has had his share of the limelight, having played semi-professional football for a number of years, topping his game with a three-year professional contract at Wimbledon FC.
Volcanic blow to the travel sector
The Icelandic volcanic ash crisis is yet another blow to independent travel agents and tour operators.