Richter Partner Paul van Eyk only Canadian to participate in World Bank discussion on insolvency reform

Press Release
October 27, 2016

Richter Partner Paul van Eyk only Canadian to participate in World Bank discussion on insolvency reform

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Richter Partner Paul van Eyk only Canadian to participate in World Bank discussion on insolvency reform

TORONTO (ON), October 27, 2016 – Richter Partner Paul van Eyk had the unique honour to join the World Bank Insolvency and Creditor/Debtor Regimes (ICR) working group at their latest meeting in Washington. As a Fellow of INSOL, Paul was one of a limited number of professionals invited and Richter was the only financial advisory firm from North America present at its meeting in Washington, DC. The ICR Task Force and working groups’ mission is to improve insolvency reform in developing nations.

Having been asked to join by the Global Lead for Credit Infrastructure, Paul was one of only roughly 45 representatives that took part in the meeting. Representatives were from: the US, Mexico, Columbia, Argentina, the Netherlands, the UK, Russia, Belgium, Austria, Australia, India, South Korea and South Africa. The delegates consisted of lawyers, bankers, judges, government officials, university professors, and financial advisory professionals.

During its meeting in Washington, the group examined the thought ware of the World Bank on dealing with credit defaults in developing countries which rely heavily on micro-economies. In such economies, securing as little as a $1,000 loan can be difficult for new entrepreneurs. With the proper practices in place, granting access to such loans could be a key driver of market growth – and increase economic stability in areas needed most.

The World Bank’s Task Force and guests discussed a framework that was developed over the past 18 months by leading universities around the world, including the University of British Columbia. The framework was open for discussion with the attendees and topics ranged from debtor and creditor rights, to costs of restructuring, navigating out-dated government regulations, and issues management.

As a leading firm in the space of insolvency and restructuring, Richter was honoured to participate in the global discussion and continues to provide superior financial advisory services to entrepreneurs around the world.  

About Richter’s Insolvency & Restructuring Consulting services  

Richter is a leader in the field of financial reorganization and insolvency with a track record for finding solutions to complex problems. Our team has been involved in some of Canada’s most significant restructurings and receives referrals from banks, law firms and government institutions across North America. For more information, visit our services page.

About Paul van Eyk

Paul van Eyk has been involved in financial advisory services for domestic and international clients for over 15 years. He is a specialist in financial advisory including insolvency and restructuring, turnaround consulting, investigative and forensic accounting, and due diligence. Paul has managed a number of engagements across a variety of industries such as mining, financial services, gaming and casinos, construction and engineering, life sciences, manufacturing, aerospace, food and beverage, and automotive.

Paul has served as an expert witness in both Canadian and U.S. insolvency proceedings and has led high-profile, complex and precedent-setting restructurings such as Barzel Industries, Japan Airlines, CPI Plastics, and Comstock Engineering. Paul is a Fellow of INSOL, Gold Medallist of the National Insolvency Exam and is part of the technical committee for INSOL’s Tenth World Congress, taking place in Australia in 2017. Read Paul’s full bio here.

Contact
For more information, please contact Janna Petersen, 416-488-2345 ext. 2304, jpetersen@richter.ca.