International restructuring work being driven by market prices and costs in natural resources

Changes in market prices and increasing costs are driving more international restructuring and insolvency work, says Ogier disputes lawyer William Jones.

Will, who was promoted to managing associate in the firm's Cayman Disputes Resolution team at the start of the month, says that there has been an increase in international restructuring and insolvency work in the natural resources sector.

The firm has recently been instructed on matters involving the oil, steel and coal industries, for natural resources firms operating in Africa and Asia.

Will said: "What we are seeing is a trend of firms, particularly in the natural resources sector, finding themselves in financial difficulties because of lower market prices and increased costs.

"That is leading to Cayman parent companies looking to restructure their debts in order to allow the businesses to continue to operate."

Will advises on commercial litigation and contentious restructuring and insolvency matters, and is a member of the firm's global restructuring and insolvency group.