Last month Squire Patton Boggs Moscow Office Managing Partner Sergey Treshchev spoke at the 25th Annual IBA Global Insolvency and Restructuring Conference in São Paulo, Brazil.  Sergey, who is also Co-Chair of the Legislation and Policy Subcommittee, IBA Insolvency Section, was a participant in the roundtable discussion on ‘The Impact of technology on insolvency: cryptocurrency and blockchain’.

Moderated by the Transportation and Infrastructure Industry Officer of the IBA Insolvency Section, Timothy Graulich from Davis Polk & Wardwell in New York, the roundtable featured insolvency specialists from Brazil and the US alongside Sergey.  The event was well attended by delegates who included representatives of the Supreme Court of Brazil, the Central Bank of Brazil and Brazilian financial institutions, as well as by lawyers and insolvency practitioners of many countries.

Cryptocurrency, and private and public blockchain technology,” says Sergey, “continue to evolve and transform the ways in which business is conducted. However, there are risks associated with the new technology including significant insolvency implications.  This IBA specialist roundtable gave us the opportunity to showcase our knowledge of cryptocurrency, blockchain and bankruptcy in the Russian market and our knowledge of wider, global trends in this field.”

The discussion was well received, with Otto Eduardo Fonseca Lobo, partner at Lobo & Martin and one of the organizers of the Conference, informing us: “The feedback received on the working sessions was excellent!”