GLBO 2021 insights: Managing risk and race to recovery

Managing risk and race to recovery

Risk management is a timeless topic and central to protecting your company culture. Listen in and read our key quotes and takeaways from our multidisciplinary sessions held at our recent Global legal and business outlook 2021.

Key takeaways

1. Cyber security breaches: Stakeholder activism and class actions may be on the rise in a range of issues including crypto, LIBOR, ESG related topics.  Managing a company’s risk portfolio will be a key responsibility for the C-suite in 2022 and beyond.

2. EU/UK commercial disputes: With uncertain headwinds expected in 2022 and beyond, this is likely to result in more disputes erupting. For example, this could take the form of ESG related issues, with regulators taking a keen interest in greenwashing or the governance and accountability of Management Boards, for misselling and/or misrepresentation in relation to renegotiated IBOR contracts and cross-border commercial disputes with a European dimension. The latter will also give rise to further complexities of applicability of law, jurisdiction and enforcement of judgements, post-Brexit.

3. The Covid debt mountain: The level of state-guaranteed debt varies across Europe with the UK, Spain, and France at the lower end of the scale ranging between €100-140bn per country. Italy is at the upper end of the scale with over €700bn in guaranteed loans throughout the pandemic. Get up-to-date analysis on restructuring and insolvency issues in our Race to Recovery feature.