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The national insolvency firm has been appointed Asia-Pacific lead of a global insolvency network, set to benefit members by offering them easier access to cross-border insolvency specialists and business referrals.
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Jirsch Sutherland joins international insolvency network
27 May 2021
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10 minute read
National insolvency specialists Jirsch Sutherland on Wednesday joined international insolvency network Global Restructuring and Insolvency Professionals (GRIP), where it will serve as lead of the Asia-Pacific region.
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Launched in 2014, the GRIP network now has member firms in 24 countries globally. Jirsch Sutherland’s appointment marks the network’s entry into the Asia-Pacific, as it moves to strengthen its foothold in the region.
The appointment emerges as an exciting opportunity for the firm, which opened talks with the network last year, said Brad Morelli, national managing partner at Jirsch Sutherland.
“We are thrilled to have joined GRIP,” Mr Morelli said. “We connected with the network in 2020 and, as a proudly independent insolvency firm, we’re also honoured to be establishing the Asia-Pacific arm.
“While Jirsch Sutherland has vast experience handling and advising on international, cross-border matters for clients, GRIP increases our international reach and resources.
“As a member, we can quickly tap into specialist knowledge and support of fellow members in jurisdictions across Europe, Canada, Central and South America, and now the Asia-Pacific.”
The network is aimed at providing foreign insolvency and restructuring firms with local expertise as matters and opportunities emerge outside of their jurisdiction, for professionals working in markets around the world.
“Knowledge of local laws, regulations, markets and customs as well as access to local resources can contribute significantly to achieving an optimal outcome for clients, whether it’s restructuring debt or getting the best price for asset sales in a liquidation,” Mr Morelli said.
“Referrers and their clients will also enjoy greater peace of mind having a trusted Jirsch Sutherland insolvency practitioner by their side, plus the expertise and knowledge of a practitioner in another jurisdiction.”
Mr Morelli said the firm’s appointment, and the network’s entry into the region, are each timely, as global supply chains continue to reel from the ripple effects of the pandemic.
“COVID-19 continues to affect supply chains and restrict travel, making owning and operating a business in another country, for many, more challenging and less feasible,” he said.
“This will lead to an increase in demand for business restructure and insolvency specialists who can handle cross-border matters.”
The appointment comes with opportunity for new business, too, Mr Morelli said, as other members of the network refer their clients to foreign firms in the face of cross-border restructuring.
“GRIP members support each other with their local knowledge and contacts, understanding of local regulatory and legal requirements, as well as varied and specialist expertise,” Mr Morelli said.
The firm will now move to select and invite insolvency specialists with independent firms to join the network.
“We will consider like-minded restructuring and insolvency practitioners with shared values and standards; positive, professional reputations; and a desire to connect with other insolvency firms internationally,” Mr Morelli said.
“Joining GRIP is a natural next step. For almost 40 years, Jirsch Sutherland has built strong relationships with referrers, business owners and directors and individuals across Australia, and now we’re looking forward to forging collaborative and honest relationships with new GRIP members across the Asia-Pacific and around the world.”
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