CORE COMMITTEES: NEXTGEN
NextGen at the 25th Annual III Conference: A Global Dialogue on the Future of Insolvency Law
Report by Olya Antle – Co-Chair, NextGen Program, NextGen Class 2022
On June 8, 2025, the vibrant city of São Paulo, Brazil hosted the NextGen Program at the 25th Annual Conference of the International Insolvency Institute( III). Held at the Renaissance São Paulo Hotel, the event brought together emerging leaders in insolvency law from around the world who are shaping the future of cross-border restructuring and insolvency practice. The NextGen Program, now in its fourteenth year, offers a platform for rising professionals to engage in substantive dialogue, showcase research, and build global networks.
The day began with a warm welcome and opening remarks that set the tone for a dynamic and intellectually rich program. The NextGen
44 cohort, known for its diversity in jurisdictional
backgrounds and professional experiences, was eager to delve into the pressing issues facing the insolvency field today.
Panel 1: A Rotating Roundtable of Global Perspectives
The opening session of the NextGen Program departed from the traditional panel format and embraced a dynamic, interactive structure that fostered deeper engagement and dialogue. The session was designed as a rotating roundtable discussion, featuring five distinguished discussion leaders: Hon. Lisa Beckerman, Hon. Justice Peter J. Osborne, Hon. Elizabeth S. Stong, and Prof. Dr. Annika Wolf. Each of these senior members of the International Insolvency Institute brought unique jurisdictional and professional perspective to the table.
The roundtable format proved to be a highlight of the day, allowing for rich, multidirectional exchanges that would have been difficult to achieve in a traditional panel setting. Attendees appreciated the opportunity to engage directly with seasoned experts, pose jurisdiction-specific questions, and compare legal frameworks in real time.
Panel 2: Stay Moratorium and Substantive Consolidation
The second panel of the day tackled the complex and often contentious topics of stay moratoriums and substantive consolidation. The discussion centered on how different jurisdictions approach the temporary suspension of creditor actions during insolvency proceedings and the legal mechanisms that allow for the consolidation of debtor entities.
After exploring the tension between protecting debtor assets and preserving creditor rights, the panel featuring Kathlene Burke, Sabrina Becue, Dabin Chung and Nienke Lillington, concluded with a Q & A session, where attendees debated the implications of these doctrines in cross-border settings.
Panel 3: Comparative View of Liability Management Exercises
This panel, featuring Maja Zerjal Fink, Thiago Braga Junqueira, Sebastiaan van den Berg, and moderated by David Schiff, offered a comparative analysis of liability management exercises( LMEs) across key jurisdictions, focusing on how companies restructure debt outside of formal insolvency proceedings. The discussion explored tools such as debt exchanges, consent solicitations, and out-of-court restructurings, with panelists sharing insights from the U. S., Latin America, and Europe. Each speaker highlighted the legal frameworks and market
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